BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $45.24 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 13.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 764,211 shares of the network equipment provider's stock after purchasing an additional 91,961 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Cisco Systems were worth $45,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Navigoe LLC acquired a new stake in Cisco Systems in the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems during the fourth quarter worth $30,000. Finally, Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $31,000. Institutional investors own 73.33% of the company's stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. The trade was a 1.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,239 shares of company stock valued at $2,181,437. 0.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on CSCO. Citigroup upped their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Piper Sandler increased their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. StockNews.com raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. The Goldman Sachs Group upped their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and an average target price of $68.00.

Cisco Systems Stock Down 0.8%

CSCO opened at $63.42 on Wednesday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The stock has a market cap of $252.30 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company's 50-day moving average price is $58.89 and its two-hundred day moving average price is $59.81.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. Cisco Systems's revenue was up 11.4% on a year-over-year basis. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.

Cisco Systems Announces Dividend

The company also recently declared 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 2.59%. Cisco Systems's payout ratio is 66.94%.

Cisco Systems Company 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.

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