Harel Insurance Investments & Financial Services Ltd. Boosts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 151.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,380 shares of the network equipment provider’s stock after purchasing an additional 25,523 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in Cisco Systems were worth $2,140,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC increased its position in Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after buying an additional 59,466,550 shares during the period. Norges Bank acquired a new position in Cisco Systems during the fourth quarter worth approximately $2,028,781,000. Morgan Stanley increased its position in Cisco Systems by 17.4% during the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after buying an additional 9,160,347 shares during the period. Barclays PLC increased its position in Cisco Systems by 83.6% during the second quarter. Barclays PLC now owns 14,544,909 shares of the network equipment provider’s stock worth $752,554,000 after buying an additional 6,621,125 shares during the period. Finally, State Street Corp increased its position in Cisco Systems by 2.2% during the first quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock worth $9,664,544,000 after buying an additional 4,061,022 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Down 2.1 %

Shares of CSCO stock opened at $48.49 on Monday. The business’s fifty day moving average price is $49.25 and its 200 day moving average price is $50.41. Cisco Systems, Inc. has a 1-year low of $45.56 and a 1-year high of $58.19. The firm has a market capitalization of $196.35 billion, a PE ratio of 14.74, a P/E/G ratio of 2.78 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. Cisco Systems’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 earnings per share. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.15 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. Shareholders of record on Thursday, April 4th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.30%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 48.63%.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Morgan Stanley assumed coverage on Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 target price on the stock. Melius Research reissued a “hold” rating and issued a $55.00 target price on shares of Cisco Systems in a report on Monday, January 8th. Barclays boosted their target price on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, Piper Sandler boosted their target price on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.03.

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.