Nissay Asset Management Corp Japan ADV Grows Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Nissay Asset Management Corp Japan ADV increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 910,361 shares of the network equipment provider’s stock after purchasing an additional 34,557 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Cisco Systems were worth $54,267,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Nan Shan Life Insurance Co. Ltd. raised its holdings in shares of Cisco Systems by 63.1% during the fourth quarter. Nan Shan Life Insurance Co. Ltd. now owns 485,832 shares of the network equipment provider’s stock valued at $28,761,000 after purchasing an additional 188,000 shares during the last quarter. Nearwater Capital Markets Ltd bought a new stake in Cisco Systems during the fourth quarter valued at approximately $19,536,000. NorthRock Partners LLC grew its position in Cisco Systems by 306.5% during the fourth quarter. NorthRock Partners LLC now owns 56,450 shares of the network equipment provider’s stock valued at $3,342,000 after buying an additional 42,562 shares during the period. Northwest Quadrant Wealth Management LLC boosted its position in shares of Cisco Systems by 5.5% in the fourth quarter. Northwest Quadrant Wealth Management LLC now owns 10,796 shares of the network equipment provider’s stock worth $639,000 after purchasing an additional 564 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of Cisco Systems by 19.1% during the 4th quarter. Nuveen Asset Management LLC now owns 15,496,389 shares of the network equipment provider’s stock valued at $917,386,000 after purchasing an additional 2,483,776 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $61.78 on Wednesday. The company has a market capitalization of $245.78 billion, a price-to-earnings ratio of 26.98, a PEG ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The firm’s 50-day moving average is $58.70 and its 200 day moving average is $59.53. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

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

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

Analysts Set New Price Targets

Several research analysts recently weighed in on CSCO shares. The Goldman Sachs Group upped their target price on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Rosenblatt Securities dropped their target price on shares of Cisco Systems from $80.00 to $63.00 and set a “buy” rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. dropped their target price on shares of Cisco Systems from $73.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 17th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Piper Sandler dropped their target price 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. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.05.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now directly owns 335,605 shares in the company, valued at $21,616,318.05. This represents a 5.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 66,547 shares of company stock worth $4,275,553. Insiders own 0.01% 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.