Great Lakes Retirement Inc. Purchases 770 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Great Lakes Retirement Inc. boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,223 shares of the network equipment provider’s stock after acquiring an additional 770 shares during the quarter. Great Lakes Retirement Inc.’s holdings in Cisco Systems were worth $1,022,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the company. State Street Corp raised its stake in Cisco Systems by 1.4% in the second quarter. State Street Corp now owns 187,505,879 shares of the network equipment provider’s stock worth $9,701,554,000 after buying an additional 2,626,429 shares in the last quarter. Morgan Stanley raised its position in shares of Cisco Systems by 17.4% in the 4th quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock worth $2,943,593,000 after acquiring an additional 9,160,347 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its position in shares of Cisco Systems by 112,307.0% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares in the last quarter. FMR LLC grew its stake in Cisco Systems by 3.2% in the third quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after purchasing an additional 1,790,717 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Cisco Systems by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after purchasing an additional 3,087,294 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of Cisco Systems stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. Insiders have sold 19,441 shares of company stock worth $972,080 in the last three months. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.25 during trading on Thursday, hitting $50.02. The company’s stock had a trading volume of 6,955,403 shares, compared to its average volume of 19,742,605. The company has a 50-day moving average of $49.78 and a 200-day moving average of $50.94. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The firm has a market cap of $202.54 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 2.24 and a beta of 0.87. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The company’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.76 EPS. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.16 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.20%. Cisco Systems’s dividend payout ratio is 47.42%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Melius Research reaffirmed a “hold” rating and set a $55.00 target price on shares of Cisco Systems in a research note on Monday, January 8th. Barclays boosted their price target on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Melius cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, Piper Sandler increased their target price on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.42.

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.