Cisco Systems, Inc. (NASDAQ:CSCO) Stake Lessened by Harfst & Associates Inc.

Harfst & Associates Inc. lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,679 shares of the network equipment provider’s stock after selling 661 shares during the period. Cisco Systems comprises about 0.6% of Harfst & Associates Inc.’s investment portfolio, making the stock its 22nd largest position. Harfst & Associates Inc.’s holdings in Cisco Systems were worth $1,996,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. McCarthy Asset Management Inc. boosted its holdings in Cisco Systems by 87.8% in the second quarter. McCarthy Asset Management Inc. now owns 494 shares of the network equipment provider’s stock worth $26,000 after purchasing an additional 231 shares during the period. Lake Point Wealth Management acquired a new position in shares of Cisco Systems during the second quarter valued at $36,000. Stuart Chaussee & Associates Inc. boosted its holdings in shares of Cisco Systems by 43.2% during the first quarter. Stuart Chaussee & Associates Inc. now owns 716 shares of the network equipment provider’s stock valued at $37,000 after acquiring an additional 216 shares during the period. Arcadia Investment Management Corp MI boosted its holdings in shares of Cisco Systems by 48.4% during the second quarter. Arcadia Investment Management Corp MI now owns 705 shares of the network equipment provider’s stock valued at $37,000 after acquiring an additional 230 shares during the period. Finally, ShoreHaven Wealth Partners LLC boosted its holdings in shares of Cisco Systems by 55.2% during the first quarter. ShoreHaven Wealth Partners LLC now owns 776 shares of the network equipment provider’s stock valued at $40,000 after acquiring an additional 276 shares during the period. Institutional investors and hedge funds own 71.92% of the company’s stock.

Shares of CSCO stock opened at $55.89 on Tuesday. Cisco Systems, Inc. has a 12 month low of $35.28 and a 12 month high of $60.27. The firm has a market cap of $235.73 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 3.01 and a beta of 0.91. The stock has a 50 day moving average of $56.62 and a 200-day moving average of $53.66. The company has a quick ratio of 1.43, a current ratio of 1.49 and a debt-to-equity ratio of 0.22.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Tuesday, August 17th. The network equipment provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Cisco Systems had a return on equity of 30.82% and a net margin of 21.26%. The company had revenue of $13.13 billion during the quarter, compared to analyst estimates of $13.04 billion. During the same period in the previous year, the company earned $0.80 earnings per share. The company’s quarterly revenue was up 8.0% compared to the same quarter last year. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.08 EPS for the current fiscal year.

In other news, EVP Geraldine Elliott sold 50,000 shares of the stock in a transaction on Wednesday, August 25th. The stock was sold at an average price of $59.40, for a total transaction of $2,970,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Prat Bhatt sold 468 shares of the stock in a transaction on Monday, September 13th. The stock was sold at an average price of $58.35, for a total value of $27,307.80. The disclosure for this sale can be found here. Insiders sold 64,529 shares of company stock valued at $3,827,391 over the last 90 days. 0.02% of the stock is currently owned by corporate insiders.

Several equities research analysts recently weighed in on CSCO shares. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $55.00 to $59.00 and gave the stock a “hold” rating in a report on Tuesday, August 24th. DZ Bank reiterated a “hold” rating and issued a $51.00 price target on shares of Cisco Systems in a research report on Thursday, May 27th. Citigroup boosted their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, August 19th. Morgan Stanley cut shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $57.00 to $59.00 in a research report on Thursday, September 9th. Finally, Piper Sandler boosted their price target on shares of Cisco Systems from $53.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, September 16th. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average price target of $58.90.

About Cisco Systems

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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

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