Pensionfund Sabic Acquires 13,000 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Pensionfund Sabic grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 30.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 55,500 shares of the network equipment provider’s stock after buying an additional 13,000 shares during the period. Cisco Systems accounts for 0.9% of Pensionfund Sabic’s portfolio, making the stock its 26th largest position. Pensionfund Sabic’s holdings in Cisco Systems were worth $3,286,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. West Financial Advisors LLC lifted its holdings in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Quarry LP increased its position in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the period. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the third quarter valued at about $40,000. Capital Performance Advisors LLP bought a new stake in shares of Cisco Systems in the third quarter worth about $51,000. Finally, FSA Wealth Management LLC bought a new position in Cisco Systems during the 3rd quarter valued at approximately $56,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 1.1 %

NASDAQ CSCO traded up $0.62 on Monday, hitting $59.48. 2,155,619 shares of the stock were exchanged, compared to its average volume of 12,270,168. The stock has a fifty day moving average price of $58.31 and a two-hundred day moving average price of $52.76. The firm has a market capitalization of $236.89 billion, a P/E ratio of 25.53, a P/E/G ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $60.23.

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

Cisco Systems Announces Dividend

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

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Citigroup increased their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. UBS Group upped their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Finally, Evercore ISI increased their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.95.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is currently owned by company insiders.

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.