Cisco Systems, Inc. $CSCO Stock Holdings Trimmed by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 454,708 shares of the network equipment provider’s stock after selling 5,333 shares during the period. Cisco Systems makes up about 3.4% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 6th biggest holding. Marble Harbor Investment Counsel LLC’s holdings in Cisco Systems were worth $31,548,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. raised its holdings in shares of Cisco Systems by 89.4% in the 2nd quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock worth $28,000 after purchasing an additional 193 shares during the period. Legacy Investment Solutions LLC purchased a new position in Cisco Systems in the second quarter valued at approximately $28,000. Pandora Wealth Inc. purchased a new position in Cisco Systems in the first quarter valued at approximately $31,000. Nova Wealth Management Inc. acquired a new position in Cisco Systems during the first quarter valued at approximately $31,000. Finally, Brown Shipley& Co Ltd purchased a new stake in Cisco Systems during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CSCO shares. HSBC reissued a “hold” rating and issued a $69.00 target price on shares of Cisco Systems in a research note on Friday, August 15th. William Blair raised Cisco Systems to a “hold” rating in a research report on Thursday, August 14th. Wells Fargo & Company boosted their price objective on Cisco Systems from $75.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Evercore ISI increased their target price on Cisco Systems from $72.00 to $74.00 and gave the company an “in-line” rating in a research note on Thursday, August 14th. Finally, Morgan Stanley raised their target price on Cisco Systems from $73.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $75.50.

Cisco Systems Stock Down 0.5%

Shares of NASDAQ CSCO opened at $71.71 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $74.84. The stock’s 50-day simple moving average is $69.33 and its 200-day simple moving average is $67.16. The firm has a market cap of $282.59 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 3.00 and a beta of 0.95.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. Cisco Systems had a return on equity of 27.06% and a net margin of 18.45%.The firm had revenue of $14.67 billion during the quarter, compared to analyst estimates of $14.63 billion. During the same quarter last year, the firm earned $0.87 EPS. Cisco Systems’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Insider Activity at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,061 shares of the stock in a transaction on Friday, August 15th. The shares were sold at an average price of $66.60, for a total transaction of $603,462.60. Following the transaction, the insider directly owned 237,405 shares in the company, valued at $15,811,173. This represents a 3.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 7,511 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $66.84, for a total transaction of $502,035.24. Following the transaction, the executive vice president directly owned 161,467 shares of the company’s stock, valued at approximately $10,792,454.28. This represents a 4.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 82,965 shares of company stock worth $5,559,996. 0.01% of the stock is currently owned by insiders.

Cisco Systems Company 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.