Ontario Teachers Pension Plan Board Sells 45,398 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Ontario Teachers Pension Plan Board reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 81.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,340 shares of the network equipment provider’s stock after selling 45,398 shares during the period. Ontario Teachers Pension Plan Board’s holdings in Cisco Systems were worth $550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. China Universal Asset Management Co. Ltd. increased its holdings in Cisco Systems by 226.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after acquiring an additional 18,339 shares during the last quarter. EntryPoint Capital LLC boosted its stake in shares of Cisco Systems by 67.1% during the 1st quarter. EntryPoint Capital LLC now owns 1,452 shares of the network equipment provider’s stock worth $72,000 after purchasing an additional 583 shares during the period. Guardian Capital Advisors LP raised its position in Cisco Systems by 9.0% in the 1st quarter. Guardian Capital Advisors LP now owns 7,067 shares of the network equipment provider’s stock worth $338,000 after purchasing an additional 582 shares during the period. 1832 Asset Management L.P. lifted its stake in Cisco Systems by 87.8% in the first quarter. 1832 Asset Management L.P. now owns 153,514 shares of the network equipment provider’s stock worth $7,662,000 after purchasing an additional 71,783 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC raised its holdings in shares of Cisco Systems by 7.7% in the first quarter. Steel Grove Capital Advisors LLC now owns 48,474 shares of the network equipment provider’s stock worth $2,419,000 after buying an additional 3,466 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CSCO. Tigress Financial boosted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Evercore ISI boosted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Morgan Stanley lifted their price target on shares of Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Finally, Jefferies Financial Group decreased their target price 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. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

Cisco Systems Trading Up 0.1 %

Shares of NASDAQ CSCO opened at $57.59 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a market cap of $229.81 billion, a PE ratio of 24.71, a P/E/G ratio of 4.63 and a beta of 0.83. The company has a 50-day moving average of $54.84 and a two-hundred day moving average of $50.05. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

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 paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 342,858 shares of company stock worth $19,661,157. Company insiders own 0.01% of the company’s stock.

Cisco Systems Company 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.