Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in Cisco Systems by 9.6% in the first quarter, now owning 1,207,368 shares worth approximately $74.5 million.
• Cisco Systems reported a quarterly EPS of $0.99, slightly exceeding analyst expectations, with revenues increasing 7.6% year-over-year to $14.67 billion.
• In recent analyst reports, Cisco received multiple overweight ratings, with target prices ranging from $70.00 to $78.00, suggesting a consensus "Moderate Buy" rating.

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 9.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,207,368 shares of the network equipment provider's stock after selling 127,900 shares during the quarter. Cisco Systems accounts for 0.9% of Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings, making the stock its 20th largest holding. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Cisco Systems were worth $74,507,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CSCO. Brighton Jones LLC increased its position in Cisco Systems by 49.5% during the 4th quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after buying an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after acquiring an additional 2,474 shares during the period. Ontario Teachers Pension Plan Board grew its holdings in Cisco Systems by 42.6% during the fourth quarter. Ontario Teachers Pension Plan Board now owns 14,746 shares of the network equipment provider's stock worth $873,000 after acquiring an additional 4,406 shares during the period. Jump Financial LLC boosted its position in Cisco Systems by 408.5% during the fourth quarter. Jump Financial LLC now owns 109,566 shares of the network equipment provider's stock worth $6,486,000 after purchasing an additional 88,018 shares in the last quarter. Finally, Finward Bancorp purchased a new position in Cisco Systems during the fourth quarter worth approximately $206,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CSCO shares. CICC Research assumed coverage on Cisco Systems in a research report on Monday, July 14th. They issued an "outperform" rating and a $78.00 target price on the stock. Wolfe Research assumed coverage on Cisco Systems in a research report on Tuesday, July 8th. They set a "peer perform" rating on the stock. UBS Group lifted their price objective on Cisco Systems from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 5th. KeyCorp assumed coverage on Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective on the stock. Finally, Wells Fargo & Company lifted their price objective on Cisco Systems from $75.00 to $83.00 and gave the stock an "overweight" rating in a research report on Thursday. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $74.53.

Cisco Systems Trading Down 4.5%

Shares of NASDAQ CSCO traded down $3.10 during trading on Friday, reaching $66.20. The stock had a trading volume of 40,854,477 shares, compared to its average volume of 20,656,640. Cisco Systems, Inc. has a fifty-two week low of $47.85 and a fifty-two week high of $72.55. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.01. The business's 50-day moving average price is $67.98 and its 200-day moving average price is $63.36. The company has a market cap of $262.15 billion, a P/E ratio of 25.27, a PEG ratio of 3.67 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.01. The company had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a return on equity of 27.02% and a net margin of 18.45%. Cisco Systems's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.87 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 22nd. Stockholders of record on Friday, October 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Friday, October 3rd. Cisco Systems's payout ratio is presently 62.60%.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president directly owned 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 77,731 shares of company stock worth $5,021,519. Corporate insiders own 0.01% of the company's stock.

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.