Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 108.7% during the 3rd quarter, Holdings Channel reports. The fund owned 3,582,670 shares of the network equipment provider’s stock after purchasing an additional 1,865,730 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cisco Systems were worth $190,670,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CSCO. China Universal Asset Management Co. Ltd. raised its stake in Cisco Systems by 226.9% in the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after buying an additional 18,339 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new stake in Cisco Systems in the first quarter valued at $233,000. New Covenant Trust Company N.A. acquired a new stake in Cisco Systems in the first quarter valued at $149,000. Montchanin Asset Management LLC acquired a new stake in Cisco Systems in the first quarter valued at $258,000. Finally, Advisory Resource Group raised its stake in Cisco Systems by 20.3% in the first quarter. Advisory Resource Group now owns 84,530 shares of the network equipment provider’s stock valued at $4,219,000 after buying an additional 14,283 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Price Performance

Shares of CSCO opened at $59.59 on Wednesday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $59.64. The stock’s 50 day moving average is $55.35 and its two-hundred day moving average is $50.32. The firm has a market capitalization of $237.33 billion, a PE ratio of 25.58, a P/E/G ratio of 4.38 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Analyst Ratings Changes

CSCO has been the topic of a number of research analyst reports. Piper Sandler lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Jefferies Financial Group cut their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Morgan Stanley lifted their target price on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 1.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 339,479 shares of company stock valued at $19,490,991 in the last quarter. 0.01% of the stock is currently owned by corporate insiders.

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.