Achmea Investment Management B.V. grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 89.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 587,389 shares of the network equipment provider's stock after purchasing an additional 276,757 shares during the period. Achmea Investment Management B.V.'s holdings in Cisco Systems were worth $34,773,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. State Street Corp raised its holdings in Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC raised its holdings in Cisco Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider's stock worth $5,075,320,000 after acquiring an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider's stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares during the last quarter. FMR LLC raised its holdings in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock worth $1,107,930,000 after acquiring an additional 216,632 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on CSCO. Wells Fargo & Company restated an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Piper Sandler reaffirmed a "neutral" rating on shares of Cisco Systems in a research report on Thursday, March 6th. The Goldman Sachs Group lifted their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Citigroup reaffirmed an "overweight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.63.
Check Out Our Latest Research Report on CSCO
Insider Activity at Cisco Systems
In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value 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. This trade represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the completion of the transaction, the chief financial officer now directly owns 335,605 shares of the company's stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,547 shares of company stock valued at $4,275,553 over the last 90 days. Insiders own 0.01% of the company's stock.
Cisco Systems Stock Down 1.3 %
Shares of NASDAQ CSCO traded down $0.79 during midday trading on Thursday, reaching $59.67. 16,443,608 shares of the company's stock traded hands, compared to its average volume of 20,217,436. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock's 50 day simple moving average is $61.75 and its 200-day simple moving average is $57.63. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a market cap of $237.38 billion, a price-to-earnings ratio of 26.06, a P/E/G ratio of 4.16 and a beta of 0.79.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.75%. Cisco Systems's dividend payout ratio is presently 71.62%.
Cisco Systems announced that its board has authorized a share buyback program 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 programs are typically a sign that the company's board of directors believes its shares are undervalued.
About Cisco Systems
(
Free Report)
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.
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