Varma Mutual Pension Insurance Co Has $34.17 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Varma Mutual Pension Insurance Co lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 719,160 shares of the network equipment provider’s stock after selling 78,353 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Cisco Systems were worth $34,167,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CSCO. Summit Securities Group LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $25,000. Retirement Group LLC grew its position in Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Cisco Systems during the 2nd quarter worth $36,000. Tidemark LLC bought a new position in Cisco Systems during the 4th quarter worth $41,000. Finally, Redmont Wealth Advisors LLC acquired a new position in Cisco Systems in the 1st quarter valued at $41,000. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The disclosure for this sale can be found here. Insiders sold a total of 71,944 shares of company stock worth $3,566,120 over the last three months. 0.02% of the stock is owned by company insiders.

Cisco Systems Trading Down 1.3 %

NASDAQ CSCO traded down $0.63 on Friday, reaching $48.50. The company had a trading volume of 21,040,496 shares, compared to its average volume of 19,646,146. The firm has a market cap of $195.40 billion, a price-to-earnings ratio of 16.33, a P/E/G ratio of 3.98 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.09. The business has a 50 day moving average of $47.84 and a two-hundred day moving average of $47.93.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the prior year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is currently 53.87%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CSCO shares. Piper Sandler restated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the company from $46.00 to $58.00 in a report on Friday, August 16th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Thursday, August 15th. Finally, Barclays cut their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus price target of $55.89.

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 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.