Teachers Retirement System of The State of Kentucky lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 308,180 shares of the network equipment provider's stock after purchasing an additional 9,761 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Cisco Systems were worth $19,018,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Navigoe LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems in the 4th quarter valued at $26,000. JDM Financial Group LLC raised its stake in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares during the period. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the 4th quarter valued at $30,000. Finally, Fairway Wealth LLC raised its stake in Cisco Systems by 224.7% in the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after acquiring an additional 400 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the completion of the transaction, the insider directly owned 255,377 shares in the company, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the transaction, the executive vice president owned 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on CSCO shares. Piper Sandler lifted their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. KeyCorp initiated coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective on the stock. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, CICC Research assumed coverage on Cisco Systems in a research report on Monday, July 14th. They issued an "outperform" rating and a $78.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $70.35.
Check Out Our Latest Stock Report on CSCO
Cisco Systems Stock Performance
Shares of NASDAQ CSCO traded down $0.38 during trading on Thursday, reaching $68.25. 4,939,441 shares of the company traded hands, compared to its average volume of 21,331,912. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $69.78. The firm's fifty day simple moving average is $66.24 and its 200 day simple moving average is $62.28. The stock has a market cap of $270.25 billion, a P/E ratio of 27.86, a PEG ratio of 4.08 and a beta of 0.90.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the business earned $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.41 per share. The ex-dividend date was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.40%. Cisco Systems's payout ratio is currently 66.94%.
Cisco Systems Profile
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Free Report)
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.
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