Norinchukin Bank The Buys 14,341 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Norinchukin Bank The grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 225,593 shares of the network equipment provider’s stock after acquiring an additional 14,341 shares during the period. Norinchukin Bank The’s holdings in Cisco Systems were worth $13,355,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems in the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. acquired a new position in Cisco Systems in the 4th quarter valued at approximately $30,000. Campbell Capital Management Inc. acquired a new position in Cisco Systems in the 4th quarter valued at approximately $31,000. Highline Wealth Partners LLC lifted its holdings in shares of Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after purchasing an additional 260 shares during the period. Finally, Synergy Investment Management LLC acquired a new position in shares of Cisco Systems during the fourth quarter worth $36,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Down 0.1 %

NASDAQ CSCO opened at $55.73 on Friday. The stock’s 50-day simple moving average is $60.69 and its two-hundred day simple moving average is $59.08. The company has a market capitalization of $221.69 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. 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 (NASDAQ:CSCO) last posted its quarterly earnings results 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%. Research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a share repurchase 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 shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.94%. Cisco Systems’s payout ratio is presently 71.62%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CSCO. UBS Group raised their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. The Goldman Sachs Group increased their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Wells Fargo & Company reiterated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Finally, Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.58.

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.