Hartland & Co. LLC Has $2.16 Million Position in Cisco Systems, Inc. (CSCO)

Hartland & Co. LLC reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 64,247 shares of the network equipment provider’s stock after selling 5,289 shares during the period. Hartland & Co. LLC’s holdings in Cisco Systems were worth $2,161,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Barnett & Company Inc. increased its holdings in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC increased its holdings in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in Cisco Systems in the second quarter valued at about $104,000. Grove Bank & Trust increased its holdings in Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 2,120 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares in the last quarter. 75.42% of the stock is owned by hedge funds and other institutional investors.

In related news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the sale, the insider now owns 712,736 shares in the company, valued at $26,014,864. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rebecca Jacoby sold 75,021 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the sale, the senior vice president now owns 257,476 shares in the company, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is owned by company insiders.

A number of brokerages have issued reports on CSCO. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $44.00 target price on shares of Cisco Systems in a report on Wednesday, January 10th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $44.00 target price on shares of Cisco Systems in a report on Monday. Nomura raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 target price for the company in a report on Monday. Instinet increased their target price on shares of Cisco Systems from $39.53 to $46.00 and gave the company a “buy” rating in a report on Monday. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a $33.00 target price on shares of Cisco Systems in a report on Tuesday, October 24th. Eleven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $40.19.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $40.60 on Tuesday. Cisco Systems, Inc. has a 1 year low of $30.36 and a 1 year high of $42.98. The stock has a market cap of $195,421.38, a P/E ratio of 18.22, a P/E/G ratio of 3.55 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business earned $0.61 earnings per share. Cisco Systems’s revenue was down 1.7% compared to the same quarter last year. analysts forecast that Cisco Systems, Inc. will post 2.23 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Friday, January 5th were given a dividend of $0.29 per share. The ex-dividend date was Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a yield of 2.86%. Cisco Systems’s dividend payout ratio (DPR) is currently 60.10%.

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About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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