Caisse DE Depot ET Placement DU Quebec Boosts Stake in Cisco Systems, Inc. (NASDAQ:CSCO)
Caisse DE Depot ET Placement DU Quebec boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 20.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,648,841 shares of the network equipment provider’s stock after acquiring an additional 2,449,522 shares during the quarter. Cisco Systems accounts for about 2.0% of Caisse DE Depot ET Placement DU Quebec’s investment portfolio, making the stock its 5th biggest position. Caisse DE Depot ET Placement DU Quebec owned about 0.36% of Cisco Systems worth $757,931,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. United Bank acquired a new position in shares of Cisco Systems during the first quarter worth approximately $645,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Cisco Systems by 32.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock valued at $236,593,000 after purchasing an additional 1,040,607 shares during the last quarter. Roundview Capital LLC grew its stake in shares of Cisco Systems by 13.1% during the first quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock valued at $588,000 after purchasing an additional 1,221 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of Cisco Systems by 21.5% during the first quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after purchasing an additional 2,079 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in shares of Cisco Systems by 8.1% during the first quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after purchasing an additional 182,857 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on CSCO shares. Piper Sandler decreased their price target on shares of Cisco Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, November 16th. Tigress Financial raised their price objective on shares of Cisco Systems from $73.00 to $76.00 and gave the company a “buy” rating in a research note on Friday, September 22nd. DZ Bank cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price objective on the stock. in a research note on Friday, November 17th. StockNews.com assumed coverage on shares of Cisco Systems in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, UBS Group reduced their price objective on shares of Cisco Systems from $55.00 to $54.00 and set a “neutral” rating on the stock in a research note on Thursday, November 16th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $58.38.
View Our Latest Research Report on CSCO
Cisco Systems Stock Up 0.2 %
Shares of NASDAQ:CSCO traded up $0.12 during midday trading on Friday, reaching $48.38. 16,039,943 shares of the company were exchanged, compared to its average volume of 22,705,564. Cisco Systems, Inc. has a fifty-two week low of $45.56 and a fifty-two week high of $58.19. The company has a quick ratio of 1.34, a current ratio of 1.47 and a debt-to-equity ratio of 0.15. The stock has a fifty day simple moving average of $51.35 and a two-hundred day simple moving average of $52.35. The firm has a market cap of $196.59 billion, a PE ratio of 14.62, a P/E/G ratio of 2.29 and a beta of 0.91.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The business had revenue of $14.67 billion for the quarter, compared to analyst estimates of $14.63 billion. During the same period last year, the business posted $0.77 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.4 earnings per share for the current year.
Cisco Systems Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Thursday, January 4th will be paid a $0.39 dividend. The ex-dividend date is Wednesday, January 3rd. This represents a $1.56 annualized dividend and a yield of 3.22%. Cisco Systems’s payout ratio is currently 47.13%.
Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,022 shares of Cisco Systems stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the sale, the executive vice president now directly owns 169,396 shares in the company, valued at approximately $9,523,443.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 24,579 shares of Cisco Systems stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $47.99, for a total value of $1,179,546.21. Following the completion of the transaction, the executive vice president now owns 210,395 shares of the company’s stock, valued at approximately $10,096,856.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,022 shares of Cisco Systems stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total transaction of $169,896.84. Following the sale, the executive vice president now directly owns 169,396 shares of the company’s stock, valued at approximately $9,523,443.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,766 shares of company stock worth $1,646,712. Insiders own 0.02% of the company’s stock.
Cisco Systems Profile (Free Report)
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.
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