Board of the Pension Protection Fund Increases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Board of the Pension Protection Fund boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 134.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,400 shares of the network equipment provider's stock after acquiring an additional 7,100 shares during the period. Board of the Pension Protection Fund's holdings in Cisco Systems were worth $765,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Navigoe LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new position in shares of Cisco Systems in the fourth quarter worth $26,000. JDM Financial Group LLC lifted its position in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter valued at $30,000. Finally, Campbell Capital Management Inc. purchased a new stake in Cisco Systems during the 4th quarter worth about $31,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $68.95 on Friday. The business's 50-day simple moving average is $62.31 and its 200 day simple moving average is $61.02. The company has a market cap of $273.04 billion, a P/E ratio of 28.14, a PEG ratio of 4.08 and a beta of 0.88. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.25.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.38%. Cisco Systems's dividend payout ratio is presently 66.94%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the transaction, the executive vice president now directly owns 174,669 shares in the company, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider now directly owns 257,162 shares of the company's stock, valued at $16,450,653.14. The trade was a 3.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,335 shares of company stock valued at $6,271,054. 0.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on CSCO shares. Piper Sandler upped their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. New Street Research reissued a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Finally, Rosenblatt Securities increased their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $69.53.

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.

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.