PGGM Investments Sells 56,877 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

PGGM Investments reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 17.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 268,999 shares of the network equipment provider’s stock after selling 56,877 shares during the period. PGGM Investments’ holdings in Cisco Systems were worth $13,590,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. California Public Employees Retirement System increased its position in shares of Cisco Systems by 25.0% during the fourth quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock worth $947,262,000 after acquiring an additional 3,753,165 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the third quarter worth about $179,207,000. Capital Wealth Planning LLC increased its position in shares of Cisco Systems by 7,074.3% during the third quarter. Capital Wealth Planning LLC now owns 3,271,642 shares of the network equipment provider’s stock worth $175,883,000 after acquiring an additional 3,226,040 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Cisco Systems by 32.7% during the fourth quarter. Pacer Advisors Inc. now owns 7,749,370 shares of the network equipment provider’s stock worth $391,498,000 after acquiring an additional 1,909,597 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of Cisco Systems by 3.8% during the third quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after acquiring an additional 1,847,682 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 in the last quarter. Insiders own 0.02% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CSCO. Citigroup began coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. Piper Sandler upped their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Tuesday, April 9th. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. Finally, StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $55.53.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded down $0.24 on Friday, hitting $47.86. 14,658,910 shares of the company traded hands, compared to its average volume of 16,851,638. The firm’s 50-day simple moving average is $48.94 and its 200 day simple moving average is $50.04. The company has a current ratio of 1.37, a quick ratio of 1.26 and a debt-to-equity ratio of 0.14. The company has a market cap of $193.79 billion, a P/E ratio of 14.55, a P/E/G ratio of 2.76 and a beta of 0.87. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The company had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS. Analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Wednesday, April 3rd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is 48.63%.

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.