State of New Jersey Common Pension Fund D Trims Stock Position in Cisco Systems, Inc. $CSCO

State of New Jersey Common Pension Fund D decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,352,454 shares of the network equipment provider’s stock after selling 39,847 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Cisco Systems were worth $104,180,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marquette Asset Management LLC purchased a new stake in shares of Cisco Systems in the 3rd quarter worth $25,000. Board of the Pension Protection Fund purchased a new stake in Cisco Systems in the fourth quarter worth about $31,000. Cedar Mountain Advisors LLC raised its stake in shares of Cisco Systems by 115.7% in the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock worth $32,000 after buying an additional 251 shares during the period. Joseph Group Capital Management bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $38,000. Finally, Holos Integrated Wealth LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $41,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jeetendra I. Patel sold 11,248 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the sale, the insider owned 262,776 shares in the company, valued at approximately $19,970,976. This represents a 4.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 2,179 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $77.74, for a total transaction of $169,395.46. Following the transaction, the senior vice president owned 28,807 shares in the company, valued at $2,239,456.18. This trade represents a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 46,431 shares of company stock worth $3,574,820. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Saturday, March 14th. Erste Group Bank cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. UBS Group boosted their price target on Cisco Systems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Citigroup boosted their target price on shares of Cisco Systems from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Finally, DZ Bank upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, February 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $89.81.

Cisco Systems Price Performance

Cisco Systems stock opened at $89.54 on Thursday. Cisco Systems, Inc. has a 52-week low of $57.68 and a 52-week high of $90.45. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The firm’s fifty day moving average is $81.20 and its 200 day moving average is $77.83. The company has a market cap of $353.65 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.33 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business had revenue of $15.35 billion during the quarter, compared to analysts’ expectations of $15.11 billion. During the same period last year, the company posted $0.94 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.4 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd were issued a $0.42 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. Cisco Systems’s dividend payout ratio (DPR) is presently 58.95%.

Cisco Systems Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.