Sumitomo Life Insurance Co. Has $2.12 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Sumitomo Life Insurance Co. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,800 shares of the network equipment provider’s stock after selling 907 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Cisco Systems were worth $2,119,000 as of its most recent SEC filing.

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

Cisco Systems Stock Up 0.6 %

NASDAQ CSCO opened at $59.43 on Wednesday. The business has a fifty day moving average price of $59.25 and a two-hundred day moving average price of $54.23. The stock has a market capitalization of $236.70 billion, a PE ratio of 25.51, a PEG ratio of 4.59 and a beta of 0.84. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $62.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

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

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. UBS Group lifted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Barclays raised their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Morgan Stanley upped their target price on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Finally, BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Tuesday. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $62.72.

Insider Buying and Selling

In other news, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This trade represents a 1.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last 90 days. Insiders own 0.01% of the company’s stock.

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.