Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 29,487 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 847,547 shares of the network equipment provider’s stock after selling 29,487 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Cisco Systems were worth $50,175,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems in the fourth quarter worth about $26,000. Campbell Capital Management Inc. bought a new stake in shares of Cisco Systems in the 4th quarter worth approximately $31,000. Highline Wealth Partners LLC increased its position in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after buying an additional 260 shares in the last quarter. Synergy Investment Management LLC purchased a new position in Cisco Systems during the fourth quarter valued at $36,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems in the third quarter worth $40,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $61.12 on Thursday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The firm has a market capitalization of $243.15 billion, a price-to-earnings ratio of 26.69, 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. The firm has a 50 day moving average of $61.89 and a 200 day moving average of $57.97.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is presently 71.62%.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction on 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 completion of the sale, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Morgan Stanley lifted their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. 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 report on Tuesday, January 28th. Finally, Barclays reiterated 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 issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems 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.