Nan Shan Life Insurance Co. Ltd. Has $28.76 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Nan Shan Life Insurance Co. Ltd. raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 63.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 485,832 shares of the network equipment provider’s stock after purchasing an additional 188,000 shares during the quarter. Nan Shan Life Insurance Co. Ltd.’s holdings in Cisco Systems were worth $28,761,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of CSCO. Norges Bank acquired a new stake in Cisco Systems in the 4th quarter valued at $3,297,905,000. FMR LLC lifted its holdings in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock valued at $4,571,218,000 after acquiring an additional 13,285,052 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Cisco Systems in the 4th quarter worth about $560,722,000. Alyeska Investment Group L.P. acquired a new stake in shares of Cisco Systems during the fourth quarter worth approximately $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in Cisco Systems by 187.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider’s stock valued at $442,749,000 after purchasing an additional 4,880,747 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents a 5.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This represents a 4.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,547 shares of company stock worth $4,275,553. Insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.2%

NASDAQ:CSCO opened at $61.78 on Wednesday. The company has a market cap of $245.78 billion, a P/E ratio of 26.98, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The business has a 50 day moving average price of $58.70 and a two-hundred day moving average price of $59.53. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

CSCO has been the subject of a number of research analyst reports. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Piper Sandler decreased their target price on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a research report on Tuesday, January 28th. Evercore ISI reduced their target price on Cisco Systems from $75.00 to $67.00 and set an “outperform” rating on the stock in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. decreased their target price on Cisco Systems from $73.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $65.05.

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.