Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Lowered by IBM Retirement Fund

IBM Retirement Fund cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 105,961 shares of the network equipment provider’s stock after selling 2,014 shares during the quarter. Cisco Systems accounts for 0.6% of IBM Retirement Fund’s portfolio, making the stock its 23rd largest position. IBM Retirement Fund’s holdings in Cisco Systems were worth $4,942,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the business. Permanens Capital L.P. bought a new stake in Cisco Systems during the fourth quarter worth about $31,000. Lion Street Advisors LLC purchased a new stake in Cisco Systems during the 1st quarter worth approximately $31,000. Bourgeon Capital Management LLC purchased a new stake in Cisco Systems during the 1st quarter worth approximately $32,000. Avondale Wealth Management increased its holdings in Cisco Systems by 238.0% during the 1st quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock worth $39,000 after purchasing an additional 707 shares during the last quarter. Finally, Efficient Wealth Management LLC purchased a new stake in Cisco Systems during the 1st quarter worth approximately $44,000. Institutional investors own 71.52% of the company’s stock.

Shares of CSCO traded up $0.22 during midday trading on Wednesday, hitting $45.85. The stock had a trading volume of 953,309 shares, compared to its average volume of 25,811,290. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $58.26. The business has a 50-day simple moving average of $45.98 and a two-hundred day simple moving average of $44.30. The firm has a market cap of $196.00 billion, a P/E ratio of 18.10, a price-to-earnings-growth ratio of 3.01 and a beta of 0.98. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.69 by $0.10. The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.87 billion. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. During the same period last year, the company posted $0.78 earnings per share. On average, analysts expect that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 22nd. Investors of record on Monday, July 6th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.14%. The ex-dividend date of this dividend is Thursday, July 2nd. Cisco Systems’s dividend payout ratio is currently 50.53%.

CSCO has been the subject of a number of recent research reports. Argus restated a “buy” rating on shares of Cisco Systems in a research note on Thursday, March 26th. Raymond James boosted their price target on Cisco Systems from $48.00 to $49.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Piper Sandler boosted their price target on Cisco Systems from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $48.00 to $55.00 in a research report on Tuesday, June 16th. Finally, Wells Fargo & Co boosted their price target on Cisco Systems from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $50.35.

In related news, CAO Prat Bhatt sold 5,703 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $44.87, for a total transaction of $255,893.61. Following the completion of the sale, the chief accounting officer now directly owns 85,613 shares in the company, valued at $3,841,455.31. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.03% 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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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