Public Sector Pension Investment Board Buys 19,800 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Public Sector Pension Investment Board increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 12.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 175,424 shares of the network equipment provider’s stock after purchasing an additional 19,800 shares during the quarter. Public Sector Pension Investment Board’s holdings in Cisco Systems were worth $9,336,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Cisco Systems in the 2nd quarter valued at about $25,000. Quarry LP increased its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC raised its stake in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems in the second quarter valued at approximately $36,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the 3rd quarter valued at about $40,000. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 339,479 shares of company stock worth $19,490,991 over the last ninety days. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.1 %

CSCO opened at $59.21 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.87. The company’s 50 day moving average price is $55.83 and its two-hundred day moving average price is $50.52. The firm has a market capitalization of $235.82 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 4.42 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.98 earnings per share. As a group, research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.70%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CSCO. Morgan Stanley increased their target price on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Thursday, November 14th. Jefferies Financial Group lowered their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, August 15th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Wells Fargo & Company raised their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.94.

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.