Raiffeisen Bank International AG Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Raiffeisen Bank International AG acquired a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 866,475 shares of the network equipment provider’s stock, valued at approximately $51,287,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Redwood Investment Management LLC lifted its stake in Cisco Systems by 49.9% in the fourth quarter. Redwood Investment Management LLC now owns 59,535 shares of the network equipment provider’s stock valued at $3,524,000 after buying an additional 19,822 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $7,990,000. Point72 Europe London LLP lifted its position in Cisco Systems by 31.9% in the 4th quarter. Point72 Europe London LLP now owns 281,400 shares of the network equipment provider’s stock valued at $16,659,000 after acquiring an additional 68,000 shares in the last quarter. Polar Capital Holdings Plc acquired a new position in Cisco Systems in the 4th quarter worth $10,696,000. Finally, ProShare Advisors LLC increased its holdings in Cisco Systems by 17.1% during the 4th quarter. ProShare Advisors LLC now owns 5,596,023 shares of the network equipment provider’s stock worth $331,285,000 after purchasing an additional 815,994 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $61.29 on Thursday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $243.83 billion, a P/E ratio of 26.76, a P/E/G ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The stock has a 50 day moving average of $58.65 and a 200-day moving average of $59.54.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.05. The firm had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. During the same period in the previous year, the business posted $0.88 earnings per share. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.68%. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the sale, the senior vice president now owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 in the last three months. 0.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on CSCO. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Piper Sandler decreased their target price on shares of 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 target on the stock in a research note on Tuesday, January 28th. Finally, Barclays restated an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.79.

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.