iA Global Asset Management Inc. Has $40.95 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

iA Global Asset Management Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 49.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 691,755 shares of the network equipment provider's stock after purchasing an additional 229,823 shares during the period. Cisco Systems makes up approximately 0.7% of iA Global Asset Management Inc.'s holdings, making the stock its 26th largest position. iA Global Asset Management Inc.'s holdings in Cisco Systems were worth $40,952,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in Cisco Systems in the 4th quarter valued at $560,722,000. FMR LLC grew its holdings in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider's stock valued at $362,907,000 after purchasing an additional 5,223,800 shares during the period. National Bank of Canada FI raised its stake in shares of Cisco Systems by 79.6% in the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider's stock valued at $477,463,000 after purchasing an additional 3,975,028 shares in the last quarter. Finally, State Street Corp lifted its position in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

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Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer now owns 736,120 shares of the company's stock, valued at $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by insiders.

Cisco Systems Trading Up 1.1 %

CSCO traded up $0.67 during mid-day trading on Monday, reaching $60.97. The stock had a trading volume of 28,313,023 shares, compared to its average volume of 18,050,558. The stock has a market capitalization of $242.56 billion, a P/E ratio of 26.62, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm's fifty day simple moving average is $62.00 and its two-hundred day simple moving average is $58.25.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data 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%. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.69%. The ex-dividend date is Thursday, April 3rd. Cisco Systems's dividend payout ratio is currently 71.62%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CSCO shares. BNP Paribas upgraded shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective for the company in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, February 13th. Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Piper Sandler reissued a "neutral" rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Rosenblatt Securities raised Cisco Systems from a "neutral" rating to a "buy" rating and boosted their price target for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $66.63.

Cisco Systems Company 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.