Nan Shan Life Insurance Co. Ltd. Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)
Nan Shan Life Insurance Co. Ltd. boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 911,000 shares of the network equipment provider’s stock after buying an additional 89,400 shares during the quarter. Nan Shan Life Insurance Co. Ltd.’s holdings in Cisco Systems were worth $40,767,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Costello Asset Management INC purchased a new position in Cisco Systems during the fourth quarter valued at approximately $26,000. Bainco International Investors purchased a new position in Cisco Systems during the fourth quarter valued at approximately $30,000. Goodwin Investment Advisory purchased a new position in Cisco Systems during the fourth quarter valued at approximately $31,000. Legal Advantage Investments Inc. purchased a new position in Cisco Systems during the fourth quarter valued at approximately $47,000. Finally, Ellevest Inc. increased its holdings in Cisco Systems by 33.2% during the third quarter. Ellevest Inc. now owns 1,478 shares of the network equipment provider’s stock valued at $58,000 after buying an additional 368 shares during the period. 70.62% of the stock is currently owned by institutional investors.
In other Cisco Systems news, CEO Charles Robbins sold 8,497 shares of Cisco Systems stock in a transaction on Wednesday, February 17th. The shares were sold at an average price of $46.20, for a total value of $392,561.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Chandler sold 3,024 shares of Cisco Systems stock in a transaction on Friday, February 12th. The shares were sold at an average price of $47.21, for a total transaction of $142,763.04. The disclosure for this sale can be found here. Insiders have sold 75,530 shares of company stock valued at $3,338,858 over the last 90 days. 0.02% of the stock is currently owned by insiders.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.03. Cisco Systems had a net margin of 21.76% and a return on equity of 32.64%. During the same quarter in the prior year, the firm earned $0.77 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th will be given a dividend of $0.37 per share. The ex-dividend date is Monday, April 5th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 3.26%. Cisco Systems’s payout ratio is currently 49.32%.
Several brokerages recently issued reports on CSCO. Piper Sandler lifted their price objective on shares of Cisco Systems from $45.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research note on Friday, November 13th. Credit Suisse Group raised their target price on shares of Cisco Systems from $41.00 to $46.00 and gave the company a “neutral” rating in a research note on Wednesday, February 10th. The Goldman Sachs Group restated a “neutral” rating and issued a $50.00 target price on shares of Cisco Systems in a research note on Wednesday, February 10th. Finally, Smith Barney Citigroup raised their target price on shares of Cisco Systems from $43.00 to $45.00 in a research note on Friday, November 13th. Sixteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $48.63.
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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