Healthcare of Ontario Pension Plan Trust Fund Sells 915,390 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Healthcare of Ontario Pension Plan Trust Fund lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 34.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,716,940 shares of the network equipment provider’s stock after selling 915,390 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Cisco Systems were worth $81,572,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new stake in shares of Cisco Systems during the second quarter worth approximately $25,000. Quarry LP lifted its stake in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the period. Retirement Group LLC boosted its position in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems during the second quarter worth $36,000. Finally, Redmont Wealth Advisors LLC bought a new stake in Cisco Systems in the first quarter valued at about $41,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CSCO. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Jefferies Financial Group reduced their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Evercore ISI upped their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Piper Sandler reiterated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus price target of $55.00.

Cisco Systems Price Performance

Shares of CSCO opened at $52.62 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company’s fifty day simple moving average is $49.38 and its 200 day simple moving average is $48.22. The company has a market cap of $212.00 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $54.58.

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

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.04%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems 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 sale, 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 SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 over the last ninety days. Insiders own 0.02% of the company’s stock.

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.