Lansforsakringar Fondforvaltning AB publ Invests $78.59 Million in Cisco Systems, Inc. (NASDAQ:CSCO)

Lansforsakringar Fondforvaltning AB publ bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,327,516 shares of the network equipment provider's stock, valued at approximately $78,589,000. Cisco Systems makes up about 0.9% of Lansforsakringar Fondforvaltning AB publ's holdings, making the stock its 23rd biggest holding.

Other hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. bought a new stake in Cisco Systems in the fourth quarter worth $26,000. Navigoe LLC bought a new stake in Cisco Systems in the fourth quarter worth $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems in the fourth quarter worth $26,000. JDM Financial Group LLC increased its position in Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the fourth quarter worth $30,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president now owns 181,186 shares in the company, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 41,616 shares of company stock worth $2,640,095. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Down 0.4%

Shares of CSCO stock traded down $0.24 during mid-day trading on Friday, hitting $62.81. 25,829,006 shares of the stock traded hands, compared to its average volume of 20,244,721. The stock has a market cap of $248.73 billion, a P/E ratio of 27.43, a P/E/G ratio of 4.16 and a beta of 0.89. The stock's fifty day moving average is $59.30 and its two-hundred day moving average is $60.12. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

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

Cisco Systems declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. UBS Group boosted their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Piper Sandler boosted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Finally, New Street Research reiterated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $68.00.

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.