Oregon Public Employees Retirement Fund Decreases Stake in Cisco Systems, Inc. (CSCO)
Oregon Public Employees Retirement Fund lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% during the second quarter, Holdings Channel reports. The institutional investor owned 1,432,197 shares of the network equipment provider’s stock after selling 97,300 shares during the period. Cisco Systems makes up 0.8% of Oregon Public Employees Retirement Fund’s portfolio, making the stock its 17th largest position. Oregon Public Employees Retirement Fund’s holdings in Cisco Systems were worth $44,828,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Dodge & Cox acquired a new position in shares of Cisco Systems during the fourth quarter worth about $1,950,935,000. Norges Bank acquired a new position in shares of Cisco Systems during the fourth quarter worth about $1,306,395,000. Boston Partners boosted its position in shares of Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after buying an additional 23,002,159 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Cisco Systems by 1,032.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 8,822,459 shares of the network equipment provider’s stock worth $266,816,000 after buying an additional 8,043,558 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of Cisco Systems during the fourth quarter worth about $134,343,000. Hedge funds and other institutional investors own 75.30% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at 31.42 on Monday. The company has a market cap of $157.10 billion, a price-to-earnings ratio of 15.95 and a beta of 1.24. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60. The company’s 50-day moving average is $31.99 and its 200-day moving average is $32.31.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $11.94 billion for the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post $2.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Wednesday, July 5th. Cisco Systems’s payout ratio is currently 58.29%.
A number of research analysts have recently issued reports on CSCO shares. Zacks Investment Research cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Morgan Stanley upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $33.45 to $39.00 in a report on Monday, May 15th. Credit Suisse Group upgraded shares of Cisco Systems from an “underperform” rating to an “outperform” rating and boosted their price target for the stock from $27.00 to $40.00 in a report on Thursday, April 27th. Deutsche Bank AG boosted their price target on shares of Cisco Systems from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 23rd. Finally, Barclays PLC restated an “overweight” rating on shares of Cisco Systems in a report on Saturday, April 22nd. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $35.29.
In other news, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Karen Walker sold 7,802 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the sale, the senior vice president now owns 178,577 shares in the company, valued at approximately $5,587,674.33. The disclosure for this sale can be found here. In the last quarter, insiders have sold 396,179 shares of company stock worth $12,503,407. Company insiders own 0.11% of the company’s stock.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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