Teachers Retirement System of The State of Kentucky Purchases 9,761 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Teachers Retirement System of The State of Kentucky increased its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.3% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 308,180 shares of the network equipment provider's stock after purchasing an additional 9,761 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Cisco Systems were worth $19,018,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CSCO. Kornitzer Capital Management Inc. KS boosted its stake in shares of Cisco Systems by 0.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider's stock worth $55,049,000 after acquiring an additional 6,501 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in Cisco Systems by 10.8% during the first quarter. Golden State Wealth Management LLC now owns 6,298 shares of the network equipment provider's stock worth $389,000 after purchasing an additional 612 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Cisco Systems by 28.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock worth $249,180,000 after purchasing an additional 904,548 shares during the period. Investment Management Corp of Ontario lifted its stake in Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after purchasing an additional 59,680 shares during the period. Finally, IFP Advisors Inc lifted its stake in Cisco Systems by 2.6% during the first quarter. IFP Advisors Inc now owns 111,510 shares of the network equipment provider's stock worth $6,882,000 after purchasing an additional 2,839 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business'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 completion of the sale, the executive vice president directly owned 174,669 shares in the company, valued at $11,447,806.26. This represents a 4.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Cisco Systems stock traded down $0.18 during mid-day trading on Tuesday, hitting $68.16. The company had a trading volume of 14,523,252 shares, compared to its average volume of 20,258,213. 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 company's fifty day moving average is $65.84 and its 200-day moving average is $62.13. The company has a market capitalization of $269.91 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 4.07 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. Equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.41%. Cisco Systems's dividend payout ratio is presently 66.94%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CSCO. KeyCorp assumed coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price on the stock. Wall Street Zen cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Citigroup raised their price target on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Piper Sandler lifted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Finally, Rosenblatt Securities raised their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $70.35.

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.