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

Sumitomo Life Insurance Co. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,800 shares of the network equipment provider’s stock after selling 907 shares during the period. Sumitomo Life Insurance Co.’s holdings in Cisco Systems were worth $2,119,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CSCO. Quarry LP lifted its stake in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the period. West Financial Advisors LLC lifted its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Highline Wealth Partners LLC boosted its stake in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares in the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems in the third quarter worth $40,000. Finally, Decker Retirement Planning Inc. bought a new stake in Cisco Systems in the fourth quarter valued at $49,000. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the subject of several research reports. Wells Fargo & Company raised their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Bank of America boosted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Tigress Financial boosted 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. Finally, Barclays raised their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.72.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now directly owns 207,798 shares of the company’s stock, valued at $12,299,563.62. The trade was a 1.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. Company insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

CSCO opened at $59.43 on Wednesday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $62.31. The firm has a 50-day moving average of $59.25 and a 200 day moving average of $54.23. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a market cap of $236.70 billion, a P/E ratio of 25.51, a PEG ratio of 4.59 and a beta of 0.84.

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

Cisco Systems Announces Dividend

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

About Cisco Systems

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.