Zurcher Kantonalbank Zurich Cantonalbank Has $157.27 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 141.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,656,617 shares of the network equipment provider’s stock after purchasing an additional 1,555,117 shares during the period. Cisco Systems comprises 0.4% of Zurcher Kantonalbank Zurich Cantonalbank’s holdings, making the stock its 29th largest position. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Cisco Systems worth $157,272,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Schwarz Dygos Wheeler Investment Advisors LLC raised its position in Cisco Systems by 3.6% in the 4th quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 7,367 shares of the network equipment provider’s stock valued at $436,000 after buying an additional 254 shares during the last quarter. Taika Capital LP raised its holdings in shares of Cisco Systems by 446.4% in the fourth quarter. Taika Capital LP now owns 74,908 shares of the network equipment provider’s stock valued at $4,435,000 after purchasing an additional 61,199 shares during the last quarter. Sound View Wealth Advisors Group LLC raised its holdings in shares of Cisco Systems by 4.4% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 44,862 shares of the network equipment provider’s stock valued at $2,656,000 after purchasing an additional 1,871 shares during the last quarter. Enterprise Financial Services Corp boosted its holdings in Cisco Systems by 7.2% during the fourth quarter. Enterprise Financial Services Corp now owns 15,012 shares of the network equipment provider’s stock worth $889,000 after purchasing an additional 1,003 shares during the last quarter. Finally, AlphaQuest LLC boosted its holdings in Cisco Systems by 2,271.8% during the fourth quarter. AlphaQuest LLC now owns 34,201 shares of the network equipment provider’s stock worth $2,025,000 after purchasing an additional 32,759 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $63.94 on Monday. The firm has a market cap of $254.37 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The business’s 50 day moving average is $61.63 and its 200-day moving average is $57.44. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.56%. Cisco Systems’s payout ratio is 71.62%.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 11,808 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total value of $760,080.96. Following the transaction, the executive vice president now owns 200,191 shares in the company, valued at approximately $12,886,294.67. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,348 shares of company stock valued at $4,318,181 in the last quarter. Company insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. The Goldman Sachs Group boosted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research report on Thursday. Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research report on Thursday. Finally, BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $66.63.

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.