State of New Jersey Common Pension Fund D Sells 39,847 Shares of Cisco Systems, Inc. $CSCO

Key Points

• State of New Jersey Common Pension Fund D trimmed its Cisco stake by 2.9%, selling 39,847 shares and now holds 1,352,454 shares valued at about $104.18 million.
• Company insiders sold a total of 46,431 Cisco shares in the past three months (≈$3.57 million), including EVP Oliver Tuszik and EVP Thimaya K. Subaiya, signaling notable insider selling activity.
• Cisco raised its quarterly dividend to $0.42 ($1.68 annual, 1.9% yield) and beat quarterly earnings/revenue estimates with revenue up 9.7%, while analysts maintain a consensus "Moderate Buy" and an average price target of $89.81.

State of New Jersey Common Pension Fund D lessened its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,352,454 shares of the network equipment provider's stock after selling 39,847 shares during the period. State of New Jersey Common Pension Fund D's holdings in Cisco Systems were worth $104,180,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CSCO. Marquette Asset Management LLC bought a new stake in Cisco Systems in the third quarter valued at $25,000. Board of the Pension Protection Fund bought a new position in Cisco Systems in the fourth quarter worth about $31,000. Cedar Mountain Advisors LLC lifted its holdings in Cisco Systems by 115.7% in the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider's stock worth $32,000 after buying an additional 251 shares during the period. Joseph Group Capital Management bought a new stake in Cisco Systems during the 4th quarter valued at approximately $38,000. Finally, Holos Integrated Wealth LLC purchased a new position in shares of Cisco Systems during the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Oliver Tuszik sold 3,132 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total value of $249,745.68. Following the completion of the sale, the executive vice president owned 188,613 shares of the company's stock, valued at approximately $15,040,000.62. The trade was a 1.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,744 shares of the stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $77.07, for a total value of $134,410.08. Following the transaction, the executive vice president directly owned 156,693 shares in the company, valued at $12,076,329.51. The trade was a 1.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 46,431 shares of company stock valued at $3,574,820. Company insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 0.0%

NASDAQ:CSCO opened at $89.54 on Thursday. The firm has a 50-day simple moving average of $81.20 and a two-hundred day simple moving average of $77.83. The firm has a market cap of $353.65 billion, a P/E ratio of 31.53, a P/E/G ratio of 3.33 and a beta of 0.83. Cisco Systems, Inc. has a fifty-two week low of $57.68 and a fifty-two week high of $90.45. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The company had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The firm's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.94 earnings per share. Analysts predict that Cisco Systems, Inc. will post 3.4 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd were paid a dividend of $0.42 per share. The ex-dividend date was Thursday, April 2nd. This represents a $1.68 annualized dividend and a yield of 1.9%. This is an increase from Cisco Systems's previous quarterly dividend of $0.41. Cisco Systems's dividend payout ratio (DPR) is currently 58.95%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CSCO. DZ Bank upgraded Cisco Systems to a "strong-buy" rating in a research note on Friday, February 13th. BNP Paribas Exane increased their price objective on Cisco Systems from $86.00 to $87.00 and gave the stock an "outperform" rating in a report on Thursday, February 12th. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, April 16th. HSBC boosted their target price on shares of Cisco Systems from $74.00 to $77.00 and gave the company a "hold" rating in a report on Friday, February 13th. Finally, Wall Street Zen lowered shares of Cisco Systems from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $89.81.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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