Marble Harbor Investment Counsel LLC Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Marble Harbor Investment Counsel LLC lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 461,762 shares of the network equipment provider’s stock after selling 1,100 shares during the quarter. Cisco Systems accounts for about 2.6% of Marble Harbor Investment Counsel LLC’s portfolio, making the stock its 9th largest position. Marble Harbor Investment Counsel LLC’s holdings in Cisco Systems were worth $21,938,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Swedbank AB purchased a new position in Cisco Systems in the first quarter worth about $840,538,000. FIL Ltd boosted its holdings in shares of Cisco Systems by 47.1% in the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after purchasing an additional 6,054,748 shares during the period. Natixis increased its position in shares of Cisco Systems by 438.4% during the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after purchasing an additional 4,010,228 shares during the last quarter. Wellington Management Group LLP raised its holdings in Cisco Systems by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after buying an additional 3,314,330 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after buying an additional 2,906,357 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Jefferies Financial Group reduced their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, August 15th. Finally, StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus target price of $55.89.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 in the last 90 days. Insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $49.80 on Monday. The firm has a market cap of $200.63 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 3.87 and a beta of 0.83. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $56.47. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company’s 50 day moving average is $48.05 and its 200 day moving average is $47.96.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business posted $1.01 EPS. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Cisco Systems 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.