Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Reduced by Hartford Investment Management Co.

Hartford Investment Management Co. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 6.3% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 272,722 shares of the network equipment provider’s stock after selling 18,254 shares during the period. Hartford Investment Management Co.’s holdings in Cisco Systems were worth $13,778,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Kathleen S. Wright Associates Inc. bought a new stake in Cisco Systems in the third quarter worth approximately $27,000. Valued Wealth Advisors LLC bought a new stake in Cisco Systems in the fourth quarter worth approximately $32,000. Fortis Capital Advisors LLC bought a new stake in Cisco Systems in the fourth quarter worth approximately $34,000. Hibernia Wealth Partners LLC acquired a new stake in shares of Cisco Systems in the third quarter worth $42,000. Finally, VitalStone Financial LLC acquired a new stake in shares of Cisco Systems in the second quarter worth $45,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders sold 19,441 shares of company stock worth $972,080 in the last quarter. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded down $0.07 during mid-day trading on Wednesday, reaching $48.89. 6,223,224 shares of the stock were exchanged, compared to its average volume of 19,585,910. The company has a market cap of $197.96 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 2.27 and a beta of 0.87. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The firm has a 50-day simple moving average of $49.65 and a 200 day simple moving average of $50.71. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same quarter last year, the company posted $0.76 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.16 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.27%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is 47.42%.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of analyst reports. Wells Fargo & Company initiated coverage on shares of Cisco Systems in a research note on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective for the company. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. UBS Group boosted their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, February 12th. Melius cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Barclays upped their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.42.

View Our Latest Stock Analysis on CSCO

About Cisco Systems

(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.

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

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