Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Dai ichi Life Insurance Company Ltd

Dai ichi Life Insurance Company Ltd lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 35.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,467 shares of the network equipment provider’s stock after selling 234,436 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Cisco Systems were worth $22,909,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. China Universal Asset Management Co. Ltd. grew its stake in shares of Cisco Systems by 226.9% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after buying an additional 18,339 shares during the period. Redwood Investment Management LLC grew its position in shares of Cisco Systems by 291.7% during the 1st quarter. Redwood Investment Management LLC now owns 43,728 shares of the network equipment provider’s stock valued at $2,182,000 after buying an additional 32,563 shares during the last quarter. Tidal Investments LLC grew its position in Cisco Systems by 4.6% in the 1st quarter. Tidal Investments LLC now owns 361,722 shares of the network equipment provider’s stock worth $18,049,000 after purchasing an additional 15,778 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in Cisco Systems in the 1st quarter worth about $233,000. Finally, Alethea Capital Management LLC bought a new position in shares of Cisco Systems in the first quarter valued at approximately $470,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the subject of several recent research reports. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Jefferies Financial Group lowered their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Wells Fargo & Company increased their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Barclays raised their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $59.94.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. This trade represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 342,858 shares of company stock worth $19,661,157 over the last quarter. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $58.74 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The stock’s 50 day simple moving average is $55.17 and its two-hundred day simple moving average is $50.24. The company has a market cap of $233.95 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 4.37 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.72%. Cisco Systems’s payout ratio is 68.67%.

Cisco Systems Company Profile

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.