Canada Pension Plan Investment Board Has $256.45 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Canada Pension Plan Investment Board boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 81.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,331,911 shares of the network equipment provider's stock after purchasing an additional 1,949,145 shares during the quarter. Canada Pension Plan Investment Board owned about 0.11% of Cisco Systems worth $256,449,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the last quarter. Norges Bank acquired a new stake in Cisco Systems in the fourth quarter valued at $3,297,905,000. Nordea Investment Management AB grew its holdings in Cisco Systems by 1.2% during 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 in the last quarter. Franklin Resources Inc. increased its position in shares of Cisco Systems by 7.0% in the 3rd quarter. Franklin Resources Inc. now owns 18,214,461 shares of the network equipment provider's stock worth $988,499,000 after purchasing an additional 1,195,469 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Cisco Systems by 18.0% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 13,880,257 shares of the network equipment provider's stock valued at $821,711,000 after purchasing an additional 2,114,994 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value 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 approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company'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 transaction, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock valued at $4,275,553 in the last three months. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

Shares of CSCO traded down $0.04 during mid-day trading on Friday, reaching $55.73. The company had a trading volume of 15,874,222 shares, compared to its average volume of 20,149,900. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market capitalization of $221.69 billion, a P/E ratio of 24.33, a P/E/G ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company's 50-day moving average is $60.69 and its 200-day moving average is $59.08.

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 the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its Board of Directors has initiated a stock 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 buy up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.94%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's payout ratio is 71.62%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Melius Research upgraded Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Piper Sandler decreased their price target on shares of Cisco Systems from $72.00 to $60.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. UBS Group raised their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. BNP Paribas raised Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price target on the stock in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Cisco Systems from $73.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price of $65.58.

Cisco Systems Profile

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.