B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 34,599 shares of the network equipment provider’s stock, valued at approximately $1,683,000.
A number of other large investors have also recently bought and sold shares of CSCO. Bank of New York Mellon Corp raised its holdings in shares of Cisco Systems by 193,168.7% in the third quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock worth $5,095,693,000 after buying an additional 104,687,754 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in shares of Cisco Systems by 3,130.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 68,193,317 shares of the network equipment provider’s stock worth $1,574,000 after buying an additional 66,082,350 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Cisco Systems by 36.0% in the fourth quarter. Fisher Asset Management LLC now owns 27,338,574 shares of the network equipment provider’s stock worth $1,184,580,000 after buying an additional 7,238,755 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Cisco Systems by 11.2% in the fourth quarter. Geode Capital Management LLC now owns 64,506,078 shares of the network equipment provider’s stock worth $2,790,865,000 after buying an additional 6,516,314 shares during the last quarter. Finally, APG Asset Management N.V. raised its holdings in shares of Cisco Systems by 28.5% in the fourth quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after buying an additional 2,472,300 shares during the last quarter. 74.60% of the stock is owned by institutional investors.
NASDAQ:CSCO opened at $54.75 on Friday. The firm has a market capitalization of $240.45 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 2.87 and a beta of 1.21. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $57.56. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a dividend of $0.35 per share. The ex-dividend date is Wednesday, July 3rd. This represents a $1.40 annualized dividend and a yield of 2.56%. Cisco Systems’s dividend payout ratio is presently 59.83%.
CSCO has been the subject of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a report on Thursday, May 16th. Goldman Sachs Group cut shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and raised their price target for the stock from $58.00 to $62.00 in a report on Tuesday, April 16th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $60.00 price target on shares of Cisco Systems in a report on Wednesday. Bank of America set a $62.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Thursday, May 16th. Finally, Morgan Stanley raised their price target on shares of Cisco Systems from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $55.92.
In other news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $53.56, for a total value of $3,749,200.00. Following the sale, the chief financial officer now owns 349,122 shares in the company, valued at $18,698,974.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Wesley G. Bush bought 10,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was bought at an average price of $55.74 per share, for a total transaction of $557,400.00. Following the transaction, the director now owns 3,017 shares of the company’s stock, valued at $168,167.58. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 95,129 shares of company stock worth $5,159,754. 0.03% of the stock is owned by company insiders.
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Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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