Cisco Systems, Inc. (NASDAQ:CSCO) Shares Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 187,281 shares of the network equipment provider’s stock after purchasing an additional 19,633 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Cisco Systems were worth $11,087,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $26,000. Navigoe LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $30,000. Campbell Capital Management Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $31,000. Finally, Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $36,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CSCO shares. Rosenblatt Securities dropped their price target on shares of Cisco Systems from $80.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, April 22nd. StockNews.com cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, March 5th. Evercore ISI dropped their price objective on shares of Cisco Systems from $75.00 to $67.00 and set an “outperform” rating for the company in a report on Monday, April 28th. Piper Sandler dropped their price objective on shares of Cisco Systems from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.05.

Cisco Systems Stock Up 3.2%

Shares of Cisco Systems stock opened at $61.67 on Tuesday. The company has a market capitalization of $245.34 billion, a P/E ratio of 26.93, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a 50 day moving average of $58.73 and a 200 day moving average of $59.51.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were given a $0.41 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.66%. Cisco Systems’s dividend payout ratio is 71.62%.

Cisco Systems declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. The trade was a 1.07% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 in the last 90 days. 0.01% of the stock is owned by insiders.

Cisco Systems 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.