State of New Jersey Common Pension Fund D Reduces Position in Cisco Systems, Inc. (NASDAQ:CSCO)

State of New Jersey Common Pension Fund D lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,303,299 shares of the network equipment provider’s stock after selling 12,764 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.06% of Cisco Systems worth $116,363,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Waddell & Associates LLC increased its position in Cisco Systems by 0.8% during the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock worth $1,328,000 after purchasing an additional 191 shares in the last quarter. Sax Wealth Advisors LLC increased its position in Cisco Systems by 3.6% during the 3rd quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock worth $306,000 after purchasing an additional 196 shares in the last quarter. Onyx Bridge Wealth Group LLC increased its position in Cisco Systems by 3.8% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 5,385 shares of the network equipment provider’s stock worth $290,000 after purchasing an additional 197 shares in the last quarter. Winch Advisory Services LLC increased its position in Cisco Systems by 19.3% during the 3rd quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock worth $66,000 after purchasing an additional 199 shares in the last quarter. Finally, Benin Management CORP increased its position in Cisco Systems by 0.5% during the 3rd quarter. Benin Management CORP now owns 37,543 shares of the network equipment provider’s stock worth $2,018,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.5 %

Shares of CSCO traded down $0.24 during midday trading on Friday, reaching $47.86. 14,657,974 shares of the stock were exchanged, compared to its average volume of 19,353,209. Cisco Systems, Inc. has a 12-month low of $45.56 and a 12-month high of $58.19. The firm has a 50 day simple moving average of $48.95 and a 200-day simple moving average of $50.11. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The company has a market cap of $193.79 billion, a price-to-earnings ratio of 14.62, a P/E/G ratio of 2.79 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same period last year, the business earned $0.76 EPS. The firm’s revenue was down 5.9% compared to the same quarter last year. Research analysts forecast that Cisco Systems, Inc. will post 3.13 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th were given a $0.40 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 3.34%. The ex-dividend date was Wednesday, April 3rd. Cisco Systems’s payout ratio is currently 48.63%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Piper Sandler upped their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Morgan Stanley initiated coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $55.53.

Insiders Place Their Bets

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 in the last three months. Company insiders own 0.02% of the company’s stock.

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. 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.