National Pension Service increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,119,577 shares of the network equipment provider’s stock after purchasing an additional 157,419 shares during the quarter. Cisco Systems accounts for about 0.8% of National Pension Service’s investment portfolio, making the stock its 27th largest holding. National Pension Service owned about 0.08% of Cisco Systems worth $157,780,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Beach Investment Management LLC. acquired a new stake in Cisco Systems in the second quarter worth $1,030,000. Community Bank N.A. increased its position in Cisco Systems by 2.6% in the second quarter. Community Bank N.A. now owns 163,114 shares of the network equipment provider’s stock worth $5,103,000 after buying an additional 4,109 shares during the period. Comerica Bank increased its position in Cisco Systems by 5.4% in the second quarter. Comerica Bank now owns 2,476,698 shares of the network equipment provider’s stock worth $78,907,000 after buying an additional 127,035 shares during the period. Allegis Investment Advisors LLC acquired a new stake in Cisco Systems in the second quarter worth $309,000. Finally, Camden National Bank increased its position in Cisco Systems by 16.5% in the second quarter. Camden National Bank now owns 6,986 shares of the network equipment provider’s stock worth $219,000 after buying an additional 991 shares during the period. Hedge funds and other institutional investors own 77.65% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $45.16 on Wednesday. Cisco Systems, Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $46.16. The firm has a market capitalization of $219,437.94, a P/E ratio of 20.52, a PEG ratio of 3.06 and a beta of 1.10. The company has a current ratio of 2.43, a quick ratio of 2.38 and a debt-to-equity ratio of 0.49.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.92%. The ex-dividend date of this dividend is Wednesday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio (DPR) is presently -362.50%.
Cisco Systems announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of research analysts recently issued reports on the company. Argus reaffirmed a “buy” rating and set a $50.00 target price (up from $44.00) on shares of Cisco Systems in a report on Friday, February 16th. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $44.13 target price on the stock. in a report on Monday, February 19th. MKM Partners lifted their target price on Cisco Systems to $48.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 target price (up from $46.00) on shares of Cisco Systems in a report on Friday, February 16th. Finally, Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday, February 21st. Ten equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $44.04.
In related news, Director M Michele Burns sold 12,126 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $45.37, for a total value of $550,156.62. Following the sale, the director now owns 74,479 shares of the company’s stock, valued at approximately $3,379,112.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arun Sarin sold 14,189 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total value of $625,734.90. The disclosure for this sale can be found here. Insiders have sold a total of 116,566 shares of company stock worth $4,636,938 in the last three months. 0.05% of the stock is owned by insiders.
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Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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