Cisco Systems, Inc. (NASDAQ:CSCO) Stake Reduced by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 46.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,946,124 shares of the network equipment provider’s stock after selling 2,546,843 shares during the period. Canada Pension Plan Investment Board owned approximately 0.07% of Cisco Systems worth $147,041,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its holdings in shares of Cisco Systems by 4.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 161,602 shares of the network equipment provider’s stock valued at $8,164,000 after purchasing an additional 6,691 shares in the last quarter. Blackston Financial Advisory Group LLC purchased a new stake in Cisco Systems in the 4th quarter worth about $301,000. Smith Anglin Financial LLC boosted its position in Cisco Systems by 5.9% during the 4th quarter. Smith Anglin Financial LLC now owns 4,677 shares of the network equipment provider’s stock worth $236,000 after acquiring an additional 259 shares during the period. IFG Advisory LLC grew its stake in Cisco Systems by 1.6% during the 4th quarter. IFG Advisory LLC now owns 74,873 shares of the network equipment provider’s stock valued at $3,783,000 after acquiring an additional 1,189 shares in the last quarter. Finally, Bouchey Financial Group Ltd increased its holdings in shares of Cisco Systems by 19.0% in the 4th quarter. Bouchey Financial Group Ltd now owns 6,274 shares of the network equipment provider’s stock valued at $317,000 after purchasing an additional 1,000 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock worth $1,908,923 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on CSCO shares. Barclays increased their price objective on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 17th. Citigroup started coverage on shares of Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective for the company. Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Wednesday, June 5th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $55.00 to $60.00 in a report on Monday, April 15th. Finally, Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Stock Up 1.4 %

Shares of CSCO stock traded up $0.64 during trading on Friday, reaching $47.88. The company’s stock had a trading volume of 16,104,858 shares, compared to its average volume of 17,948,308. Cisco Systems, Inc. has a one year low of $44.95 and a one year high of $58.19. The business has a fifty day moving average price of $46.73 and a 200-day moving average price of $48.37. The company has a market cap of $192.90 billion, a price-to-earnings ratio of 16.12, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same quarter last year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. Analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date was Friday, July 5th. Cisco Systems’s 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.