Vestcor Inc Reduces Holdings in Cisco Systems, Inc. $CSCO

Vestcor Inc trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 399,745 shares of the network equipment provider’s stock after selling 9,019 shares during the quarter. Cisco Systems makes up 0.8% of Vestcor Inc’s investment portfolio, making the stock its 16th largest position. Vestcor Inc’s holdings in Cisco Systems were worth $27,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after acquiring an additional 24,562 shares during the period. Revolve Wealth Partners LLC grew its stake in shares of Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after purchasing an additional 2,474 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in Cisco Systems by 7.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 10,178 shares of the network equipment provider’s stock valued at $706,000 after purchasing an additional 712 shares during the period. Schnieders Capital Management LLC. raised its position in Cisco Systems by 3.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 13,974 shares of the network equipment provider’s stock valued at $969,000 after purchasing an additional 519 shares during the last quarter. Finally, Legacy Investment Solutions LLC purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $28,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $78.64 on Monday. Cisco Systems, Inc. has a 12 month low of $52.11 and a 12 month high of $88.18. The firm has a market capitalization of $310.62 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.97 and a beta of 0.87. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The business has a fifty day simple moving average of $77.96 and a two-hundred day simple moving average of $74.19.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $15.35 billion for the quarter, compared to the consensus estimate of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 EPS. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be paid a dividend of $0.42 per share. The ex-dividend date is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. Cisco Systems’s dividend payout ratio (DPR) is presently 58.95%.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research analyst reports. Bank of America boosted their target price on Cisco Systems from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $90.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, February 9th. Wall Street Zen raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. BNP Paribas Exane lifted their target price on shares of Cisco Systems from $86.00 to $87.00 and gave the company an “outperform” rating in a research note on Thursday, February 12th. Finally, Argus raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.55.

Insider Transactions at Cisco Systems

In related news, Director Kristina M. Johnson sold 13,481 shares of the company’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $77.13, for a total value of $1,039,789.53. Following the transaction, the director owned 61,630 shares in the company, valued at $4,753,521.90. The trade was a 17.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 2,179 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total transaction of $169,395.46. Following the completion of the transaction, the senior vice president owned 28,807 shares in the company, valued at approximately $2,239,456.18. This represents a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 75,677 shares of company stock worth $5,811,211 over the last quarter. Corporate insiders own 0.01% of the company’s stock.

About Cisco Systems

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.