Healthcare of Ontario Pension Plan Trust Fund Has $1.30 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 95.0% during the second quarter, HoldingsChannel reports. The firm owned 30,586 shares of the network equipment provider’s stock after selling 585,664 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cisco Systems were worth $1,304,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSCO. Vanguard Group Inc. raised its position in shares of Cisco Systems by 8.9% during the first quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock worth $20,568,578,000 after purchasing an additional 30,181,146 shares during the period. State Street Corp raised its position in shares of Cisco Systems by 2.2% during the first quarter. State Street Corp now owns 190,142,222 shares of the network equipment provider’s stock worth $10,602,330,000 after purchasing an additional 4,017,068 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Cisco Systems by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after purchasing an additional 3,087,294 shares during the period. Caisse DE Depot ET Placement DU Quebec raised its position in shares of Cisco Systems by 47.4% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 8,848,048 shares of the network equipment provider’s stock worth $493,367,000 after purchasing an additional 2,846,557 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Cisco Systems by 14.0% during the first quarter. Swiss National Bank now owns 18,267,620 shares of the network equipment provider’s stock worth $1,018,602,000 after buying an additional 2,249,600 shares in the last quarter. Institutional investors and hedge funds own 71.71% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research reports. Bank of America reiterated a “buy” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Wednesday, November 16th. Barclays downgraded Cisco Systems from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $56.00 to $46.00 in a report on Wednesday, September 21st. Rosenblatt Securities decreased their price objective on Cisco Systems from $53.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 17th. Cowen increased their price objective on Cisco Systems from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Finally, Piper Sandler increased their price objective on Cisco Systems from $43.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $53.63.

Cisco Systems Stock Performance

CSCO opened at $48.57 on Friday. Cisco Systems, Inc. has a 12-month low of $38.60 and a 12-month high of $64.29. The stock has a market cap of $199.57 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.35 and a beta of 1.00. The business has a 50 day moving average of $43.15 and a 200-day moving average of $44.35. The company has a quick ratio of 1.34, a current ratio of 1.45 and a debt-to-equity ratio of 0.19.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.02. The company had revenue of $13.63 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Cisco Systems had a return on equity of 31.68% and a net margin of 22.00%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the firm posted $0.73 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.17 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Prat Bhatt sold 19,168 shares of Cisco Systems stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $848,759.04. Following the completion of the sale, the senior vice president now directly owns 38,158 shares of the company’s stock, valued at approximately $1,689,636.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cisco Systems news, COO Maria Martinez sold 4,674 shares of Cisco Systems stock in a transaction on Monday, September 12th. The stock was sold at an average price of $46.40, for a total value of $216,873.60. Following the completion of the transaction, the chief operating officer now directly owns 273,307 shares of the company’s stock, valued at approximately $12,681,444.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prat Bhatt sold 19,168 shares of Cisco Systems stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total value of $848,759.04. Following the completion of the transaction, the senior vice president now directly owns 38,158 shares of the company’s stock, valued at $1,689,636.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,262 shares of company stock valued at $2,422,160. Insiders own 0.02% of the company’s stock.

Cisco Systems Profile

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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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

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