Elo Mutual Pension Insurance Co Has $17.65 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Elo Mutual Pension Insurance Co raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 371,544 shares of the network equipment provider’s stock after purchasing 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 filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Gilbert & Cook Inc. increased its stake in Cisco Systems by 1.1% in the fourth quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock valued at $1,183,000 after acquiring an additional 264 shares during the period. Gryphon Financial Partners LLC lifted its position in shares of Cisco Systems by 104.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock worth $1,177,000 after purchasing an additional 11,767 shares in the last quarter. Sachetta LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth approximately $306,000. CreativeOne Wealth LLC lifted its position in shares of Cisco Systems by 3.5% during the fourth quarter. CreativeOne Wealth LLC now owns 36,868 shares of the network equipment provider’s stock worth $1,863,000 after purchasing an additional 1,239 shares in the last quarter. Finally, Nemes Rush Group LLC lifted its position in shares of Cisco Systems by 1.4% during the fourth quarter. Nemes Rush Group LLC now owns 222,050 shares of the network equipment provider’s stock worth $11,218,000 after purchasing an additional 3,156 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction that occurred 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 directly owns 47,182 shares in the company, valued at $2,376,085.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CSCO shares. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Finally, Barclays reduced their price objective on shares of 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 analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and an average target price of $55.89.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $50.61 on Wednesday. The firm has a 50-day moving average of $48.25 and a 200-day moving average of $47.99. 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. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $56.28.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.16%. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

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.