211,000 Shares in Cisco Systems, Inc. (NASDAQ:CSCO) Bought by Harber Asset Management LLC

Harber Asset Management LLC bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 211,000 shares of the network equipment provider’s stock, valued at approximately $11,229,000. Cisco Systems makes up approximately 3.4% of Harber Asset Management LLC’s holdings, making the stock its 15th largest holding.

Several other hedge funds also recently added to or reduced their stakes in CSCO. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the second quarter worth about $25,000. West Financial Advisors LLC raised its position in shares of Cisco Systems by 116.6% in the 3rd 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 period. Quarry LP lifted its holdings in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in shares of Cisco Systems during the third quarter worth $40,000. Finally, Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter valued at about $36,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total value of $291,542.13. Following the sale, the senior vice president now owns 51,931 shares in the company, valued at $3,101,838.63. This represents a 8.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 344,360 shares of company stock valued at $19,782,533. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.4 %

NASDAQ:CSCO opened at $59.43 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.87. The company has a market cap of $236.70 billion, a PE ratio of 25.51, a P/E/G ratio of 4.41 and a beta of 0.85. The business’s 50 day moving average is $55.83 and its two-hundred day moving average is $50.54.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Piper Sandler lifted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Barclays increased their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Wells Fargo & Company increased their price target on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Rosenblatt Securities increased their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $59.94.

About Cisco Systems

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.