Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by PGGM Investments

PGGM Investments cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 17.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 268,999 shares of the network equipment provider’s stock after selling 56,877 shares during the quarter. PGGM Investments’ holdings in Cisco Systems were worth $13,590,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of CSCO. Unique Wealth Strategies LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth $1,430,000. Dohj LLC boosted its position in shares of Cisco Systems by 20.6% in the fourth quarter. Dohj LLC now owns 9,430 shares of the network equipment provider’s stock worth $476,000 after buying an additional 1,610 shares during the period. Alexander Randolph Advisory Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter worth $2,854,000. Delta Investment Management LLC boosted its position in shares of Cisco Systems by 33.1% in the fourth quarter. Delta Investment Management LLC now owns 15,699 shares of the network equipment provider’s stock worth $793,000 after buying an additional 3,902 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Cisco Systems in the fourth quarter worth $543,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.24 during trading on Friday, reaching $47.86. The company’s stock had a trading volume of 14,658,910 shares, compared to its average volume of 16,851,638. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The business’s fifty day moving average price is $48.94 and its 200-day moving average price is $50.04. The firm has a market cap of $193.79 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 2.76 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 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.34%. Cisco Systems’s payout ratio is presently 48.63%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. UBS Group raised their target price on Cisco Systems from $54.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, February 12th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Melius Research reissued a “hold” rating and set a $55.00 price objective on shares of Cisco Systems in a research report on Monday, January 8th. Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Finally, Barclays lifted their price objective on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.53.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at $16,424,550. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction that occurred 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 sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred on Monday, March 11th. The shares were 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 in the company, valued at $16,424,550. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 over the last three months. Company insiders own 0.02% of the company’s stock.

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.