New Mexico Educational Retirement Board lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,274 shares of the network equipment provider's stock after selling 5,800 shares during the period. Cisco Systems accounts for about 0.4% of New Mexico Educational Retirement Board's portfolio, making the stock its 29th largest position. New Mexico Educational Retirement Board's holdings in Cisco Systems were worth $11,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC lifted its holdings in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after buying an additional 2,474 shares during the period. Proficio Capital Partners LLC boosted its position in Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after acquiring an additional 7,338 shares in the last quarter. Paragon Private Wealth Management LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at $256,000. Finally, Independent Advisor Alliance raised its position in shares of Cisco Systems by 41.0% in the 4th quarter. Independent Advisor Alliance now owns 103,155 shares of the network equipment provider's stock worth $6,107,000 after acquiring an additional 29,972 shares in the last quarter. Institutional investors own 73.33% of the company's stock.
Cisco Systems Stock Performance
Shares of CSCO stock traded down $0.81 on Friday, hitting $67.95. The company had a trading volume of 14,698,247 shares, compared to its average volume of 20,360,774. The firm has a market cap of $269.08 billion, a P/E ratio of 27.73, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The company has a 50-day moving average price of $64.84 and a 200-day moving average price of $61.75. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.
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 (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.88 earnings per share. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.
Insider Transactions at Cisco Systems
In related news, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the sale, the insider owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares in the company, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last quarter. Company insiders own 0.01% of the company's stock.
Analyst Ratings Changes
Several equities analysts have issued reports on CSCO shares. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Rosenblatt Securities boosted their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, New Street Research reaffirmed a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $69.53.
Check Out Our Latest Report on CSCO
About Cisco Systems
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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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