State of Alaska Department of Revenue Has $33.95 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

State of Alaska Department of Revenue trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 28.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 573,436 shares of the network equipment provider’s stock after selling 227,432 shares during the period. State of Alaska Department of Revenue’s holdings in Cisco Systems were worth $33,946,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Morse Asset Management Inc bought a new position in Cisco Systems in the third quarter valued at approximately $798,000. HighVista Strategies LLC acquired a new position in shares of Cisco Systems in the 3rd quarter valued at $1,698,000. GAMMA Investing LLC grew its stake in shares of Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after purchasing an additional 10,813 shares during the period. Commerzbank Aktiengesellschaft FI increased its holdings in Cisco Systems by 10.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after purchasing an additional 162,544 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Cisco Systems in the third quarter valued at about $502,000. 73.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on CSCO shares. Morgan Stanley upped their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research note on Tuesday, December 17th. Bank of America lifted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Piper Sandler upped their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, UBS Group lifted their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.72.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 58,188 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $3,345,228.12. Following the transaction, the executive vice president now directly owns 219,100 shares in the company, valued at approximately $12,596,059. This represents a 20.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares in the company, valued at approximately $21,001,901.86. This represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $62.57 on Thursday. The firm has a 50-day moving average price of $59.52 and a two-hundred day moving average price of $54.77. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.71. The company has a market capitalization of $249.20 billion, a P/E ratio of 26.85, a P/E/G ratio of 4.51 and a beta of 0.84. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the previous year, the firm earned $0.98 earnings per share. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.56%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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.