State of New Jersey Common Pension Fund D Has $116.36 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

State of New Jersey Common Pension Fund D reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,303,299 shares of the network equipment provider’s stock after selling 12,764 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Cisco Systems were worth $116,363,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CSCO. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Cisco Systems in the third quarter worth approximately $27,000. Valued Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $32,000. Morton Brown Family Wealth LLC increased its position in shares of Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares during the last quarter. Bourgeon Capital Management LLC increased its position in shares of Cisco Systems by 3,500.0% during the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the last quarter. Finally, Rakuten Securities Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $43,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Citigroup began coverage on Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target for the company. Barclays increased their price objective on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Morgan Stanley initiated coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target on the stock. Wells Fargo & Company initiated coverage on Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target on the stock. Finally, Melius Research restated a “hold” rating and set a $55.00 price target on shares of Cisco Systems in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $55.53.

Cisco Systems Stock Down 0.5 %

Cisco Systems stock traded down $0.24 during trading hours on Friday, hitting $47.86. 14,657,974 shares of the stock traded hands, compared to its average volume of 19,353,209. The firm’s 50-day moving average price is $48.95 and its two-hundred day moving average price is $50.11. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The company has a market cap of $193.79 billion, a PE ratio of 14.62, a PEG ratio of 2.79 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. On average, research analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.34%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s payout ratio is presently 48.63%.

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.