Harvest Fund Management Co. Ltd Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Harvest Fund Management Co. Ltd boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 27.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 237,564 shares of the network equipment provider’s stock after purchasing an additional 50,841 shares during the period. Cisco Systems comprises 0.6% of Harvest Fund Management Co. Ltd’s portfolio, making the stock its 25th biggest holding. Harvest Fund Management Co. Ltd’s holdings in Cisco Systems were worth $14,050,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in Cisco Systems in the fourth quarter worth about $26,000. Campbell Capital Management Inc. purchased a new position in Cisco Systems in the fourth quarter worth about $31,000. Highline Wealth Partners LLC boosted its position in Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the last quarter. Synergy Investment Management LLC purchased a new position in Cisco Systems in the fourth quarter worth about $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems in the third quarter worth about $40,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $60.30 on Wednesday. The stock has a market capitalization of $239.89 billion, a PE ratio of 26.33, a P/E/G ratio of 4.16 and a beta of 0.79. The business has a 50 day simple moving average of $61.86 and a two-hundred day simple moving average of $57.94. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.72%. Cisco Systems’s payout ratio is 71.62%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CSCO shares. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Morgan Stanley raised their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. UBS Group raised their price objective on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.