Canada Pension Plan Investment Board decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 33.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 319,110 shares of the network equipment provider’s stock after selling 157,700 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Cisco Systems were worth $16,511,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of CSCO. Altshuler Shaham Ltd acquired a new stake in shares of Cisco Systems during the first quarter worth about $32,000. Fortis Capital Advisors LLC acquired a new position in Cisco Systems in the fourth quarter valued at approximately $34,000. Tucker Asset Management LLC acquired a new position in Cisco Systems in the first quarter valued at approximately $35,000. Nordwand Advisors LLC acquired a new position in Cisco Systems in the first quarter valued at approximately $40,000. Finally, Trivant Custom Portfolio Group LLC acquired a new position in Cisco Systems in the first quarter valued at approximately $44,000. Institutional investors and hedge funds own 72.21% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Bank of America boosted their price target on Cisco Systems from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, September 13th. StockNews.com initiated coverage on Cisco Systems in a research report on Thursday, October 5th. They set a “buy” rating for the company. Raymond James cut Cisco Systems from a “market perform” rating to an “underperform” rating in a research report on Monday, October 30th. Piper Sandler boosted their price target on Cisco Systems from $51.00 to $53.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Finally, Oppenheimer reiterated an “outperform” rating and set a $58.00 price target on shares of Cisco Systems in a research report on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $59.58.
Cisco Systems Price Performance
CSCO stock opened at $53.28 on Thursday. Cisco Systems, Inc. has a 1 year low of $44.30 and a 1 year high of $58.19. The firm has a market capitalization of $216.04 billion, a P/E ratio of 17.36, a P/E/G ratio of 2.32 and a beta of 0.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27. The business’s 50-day moving average is $53.74 and its two-hundred day moving average is $52.26.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The business had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. During the same quarter in the prior year, the business posted $0.77 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. Analysts anticipate that Cisco Systems, Inc. will post 3.57 earnings per share for the current fiscal year.
Cisco Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Thursday, January 4th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.93%. Cisco Systems’s payout ratio is currently 50.81%.
In other news, SVP Maria Victoria Wong sold 6,186 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $54.65, for a total value of $338,064.90. Following the transaction, the senior vice president now owns 64,493 shares in the company, valued at approximately $3,524,542.45. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Maria Victoria Wong sold 6,186 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $54.65, for a total transaction of $338,064.90. Following the transaction, the senior vice president now owns 64,493 shares in the company, valued at approximately $3,524,542.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 3,022 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total value of $169,896.84. Following the transaction, the executive vice president now owns 169,396 shares in the company, valued at approximately $9,523,443.12. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,859 shares of company stock worth $2,309,352. 0.02% of the stock is currently owned by insiders.
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 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.
- Five stocks we like better than Cisco Systems
- How to Invest in Small Cap Stocks
- Buffett’s latest portfolio additions, trims, and cuts in Q3
- How to Invest in Grocery Stores
- 5 reasons TJX Companies will hit new highs in 2024
- Which Wall Street Analysts are the Most Accurate?
- Game-changing news for Ambarella puts the market in reversal
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.