Tredje AP fonden Decreases Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Tredje AP fonden reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 213,926 shares of the network equipment provider’s stock after selling 11,260 shares during the period. Tredje AP fonden’s holdings in Cisco Systems were worth $12,664,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CSCO. Mainstream Capital Management LLC bought a new stake in shares of Cisco Systems during the 4th quarter valued at $132,000. Morse Asset Management Inc purchased a new position in shares of Cisco Systems during the 3rd quarter valued at $798,000. HighVista Strategies LLC purchased a new position in shares of Cisco Systems during the 3rd quarter valued at $1,698,000. GAMMA Investing LLC lifted its stake in Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in Cisco Systems in the 3rd quarter worth $502,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CSCO has been the topic of several recent research reports. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the stock from $66.00 to $80.00 in a research note on Thursday, February 13th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group increased their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Finally, Piper Sandler restated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 over the last 90 days. Insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

CSCO opened at $59.67 on Friday. The company’s 50 day simple moving average is $61.75 and its 200 day simple moving average is $57.63. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock has a market capitalization of $237.38 billion, a PE ratio of 26.06, a P/E/G ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.75%. Cisco Systems’s payout ratio is presently 71.62%.

Cisco Systems declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.