California State Teachers Retirement System Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

California State Teachers Retirement System decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,378,076 shares of the network equipment provider's stock after selling 322,516 shares during the quarter. Cisco Systems makes up 0.4% of California State Teachers Retirement System's holdings, making the stock its 29th biggest position. California State Teachers Retirement System owned about 0.16% of Cisco Systems worth $377,582,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Pflug Koory LLC grew its holdings in shares of Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock worth $1,955,000 after buying an additional 165 shares in the last quarter. Glass Jacobson Investment Advisors llc boosted its stake in shares of Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after acquiring an additional 166 shares during the period. Fairhaven Wealth Management LLC boosted its stake in shares of Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after acquiring an additional 167 shares during the period. BlackDiamond Wealth Management LLC lifted its holdings in Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after purchasing an additional 168 shares during the last quarter. Finally, Maple Capital Management Inc. lifted its holdings in Cisco Systems by 1.4% during the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock worth $709,000 after purchasing an additional 170 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on CSCO shares. Rosenblatt Securities dropped their price objective on Cisco Systems from $80.00 to $63.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Melius Research raised Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Citigroup cut their target price on shares of Cisco Systems from $73.00 to $68.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Piper Sandler cut their target price on shares of Cisco Systems from $72.00 to $60.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Evercore ISI cut their target price on shares of Cisco Systems from $75.00 to $67.00 and set an "outperform" rating on the stock in a research report on Monday. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $65.05.

Cisco Systems Stock Performance

Cisco Systems stock traded up $0.39 during mid-day trading on Wednesday, reaching $57.73. The company's stock had a trading volume of 19,282,870 shares, compared to its average volume of 20,253,071. The firm's fifty day moving average price is $59.40 and its two-hundred day moving average price is $59.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a market capitalization of $229.67 billion, a P/E ratio of 25.21, a PEG ratio of 4.16 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (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%. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were issued a $0.41 dividend. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.84%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is presently 71.62%.

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.