OVERSEA CHINESE BANKING Corp Ltd Has $2.83 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

OVERSEA CHINESE BANKING Corp Ltd boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,570 shares of the network equipment provider's stock after purchasing an additional 4,619 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd's holdings in Cisco Systems were worth $2,825,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp boosted its position in shares of Cisco Systems by 1.7% during 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 buying an additional 3,241,682 shares during the period. Geode Capital Management LLC raised its stake in Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider's stock valued at $5,075,320,000 after acquiring an additional 1,262,017 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Cisco Systems by 2.1% during 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 period. FMR LLC grew its stake in shares of Cisco Systems by 10.1% in the third 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. Finally, Nordea Investment Management AB increased its holdings in shares of Cisco Systems by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock valued at $1,107,930,000 after purchasing an additional 216,632 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler reaffirmed a "neutral" rating on shares of Cisco Systems in a report on Thursday, March 6th. BNP Paribas raised shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price target for the company in a research note on Tuesday, January 28th. Citigroup reiterated an "overweight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Rosenblatt Securities raised Cisco Systems from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $66.63.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of the company's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares of the company's stock, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,547 shares of company stock valued at $4,275,553. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Trading Up 1.1 %

Shares of CSCO traded up $0.67 during midday trading on Monday, hitting $60.97. The stock had a trading volume of 28,313,023 shares, compared to its average volume of 18,050,480. The business has a 50-day simple moving average of $61.95 and a two-hundred day simple moving average of $58.17. The firm has a market cap of $242.56 billion, a P/E ratio of 26.62, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted 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%. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently declared 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 represents a $1.64 annualized dividend and a yield of 2.69%. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems's payout ratio is presently 71.62%.

Cisco Systems announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management 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.