Nexus Investment Management ULC Has $31.06 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Nexus Investment Management ULC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 600,235 shares of the network equipment provider’s stock after buying an additional 1,000 shares during the period. Cisco Systems accounts for 3.4% of Nexus Investment Management ULC’s investment portfolio, making the stock its 9th biggest position. Nexus Investment Management ULC’s holdings in Cisco Systems were worth $31,056,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CSCO. Steward Financial Group LLC bought a new position in Cisco Systems in the 4th quarter valued at $26,000. Altshuler Shaham Ltd bought a new stake in shares of Cisco Systems during the 1st quarter worth $32,000. Fortis Capital Advisors LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth $34,000. Carmel Capital Partners LLC bought a new stake in shares of Cisco Systems during the 1st quarter worth $35,000. Finally, Tucker Asset Management LLC bought a new stake in shares of Cisco Systems during the 1st quarter worth $35,000. 72.21% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,158 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $55.15, for a total value of $119,013.70. Following the sale, the executive vice president now owns 173,618 shares in the company, valued at $9,575,032.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 2,158 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $55.15, for a total transaction of $119,013.70. Following the sale, the executive vice president now owns 173,618 shares in the company, valued at $9,575,032.70. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 6,186 shares of the stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $54.65, for a total transaction of $338,064.90. Following the sale, the senior vice president now owns 64,493 shares in the company, valued at approximately $3,524,542.45. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,438 shares of company stock worth $2,948,779. 0.02% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

CSCO stock opened at $56.04 on Friday. Cisco Systems, Inc. has a 1 year low of $38.60 and a 1 year high of $58.19. The company has a market cap of $227.23 billion, a P/E ratio of 18.25, a PEG ratio of 2.49 and a beta of 0.97. The firm has a 50-day moving average of $54.10 and a 200 day moving average of $51.08. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. The company had revenue of $15.20 billion during the quarter, compared to the consensus estimate of $15.05 billion. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. Cisco Systems’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.58 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Tuesday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 50.81%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Piper Sandler lifted their price objective on shares of Cisco Systems from $51.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, August 17th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $55.00 to $62.00 in a research report on Wednesday, July 19th. Morgan Stanley boosted their price target on shares of Cisco Systems from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 17th. Evercore ISI boosted their price target on shares of Cisco Systems from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. Finally, 51job reissued an “initiates” rating on shares of Cisco Systems in a research note on Friday, June 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average price target of $59.43.

About Cisco Systems

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.