Hara Capital LLC Takes $125,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Markets Daily

Hara Capital LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,343 shares of the network equipment provider’s stock, valued at approximately $125,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Summit Securities Group LLC acquired a new stake in Cisco Systems in the 2nd quarter worth approximately $25,000. Quarry LP raised its position in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the 2nd quarter worth $36,000. Finally, Iron Horse Wealth Management LLC grew its stake in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CSCO shares. Barclays decreased their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Piper Sandler restated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Tigress Financial increased their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Thirteen analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $56.74.

View Our Latest Analysis on CSCO

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of CSCO stock traded up $0.04 during trading hours on Thursday, hitting $57.91. The company had a trading volume of 2,112,092 shares, compared to its average volume of 18,907,045. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $58.08. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm’s fifty day moving average is $53.00 and its 200 day moving average is $49.27. The firm has a market capitalization of $231.10 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 4.60 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The business’s revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.76%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 62.99%.

Cisco Systems Profile

(Free Report)

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.

Further Reading

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