Elo Mutual Pension Insurance Co Purchases 257 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

18 Sep 2024, 18:26 by Renee Jackson · The Cerbat Gem

Elo Mutual Pension Insurance Co increased its position in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 0.1% during the second quarter, HoldingsChannel.com reports. The firm owned 371,544 shares of the network equipment provider’s stock after acquiring an additional 257 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Cisco Systems were worth $17,652,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Blair William & Co. IL increased its position in shares of Cisco Systems by 9.2% during the 2nd quarter. Blair William & Co. IL now owns 697,285 shares of the network equipment provider’s stock valued at $33,128,000 after purchasing an additional 58,987 shares during the last quarter. O Brien Greene & Co. Inc boosted its stake in Cisco Systems by 5.0% in the 2nd quarter. O Brien Greene & Co. Inc now owns 151,139 shares of the network equipment provider’s stock worth $7,181,000 after purchasing an additional 7,131 shares during the period. Elkhorn Partners Limited Partnership bought a new position in Cisco Systems in the 2nd quarter worth approximately $166,000. Vanguard Personalized Indexing Management LLC boosted its stake in Cisco Systems by 9.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 378,002 shares of the network equipment provider’s stock worth $17,616,000 after purchasing an additional 31,114 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Cisco Systems by 4.7% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 149,542 shares of the network equipment provider’s stock valued at $7,105,000 after acquiring an additional 6,761 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock worth $3,509,049 in the last three months. 0.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, August 15th. Jefferies Financial Group reduced their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, Barclays cut their target price on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $55.89.

Get Our Latest Stock Analysis on Cisco Systems

Cisco Systems Stock Down 0.8 %

NASDAQ CSCO opened at $50.61 on Wednesday. The business has a fifty day moving average price of $48.25 and a 200 day moving average price of $47.99. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $56.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The company has a market cap of $203.90 billion, a P/E ratio of 17.04, a P/E/G ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the company earned $1.01 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. Research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 53.87%.

Cisco Systems Company Profile

(Free Report)

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.