New York State Teachers Retirement System decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,226,391 shares of the network equipment provider's stock after selling 122,204 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Cisco Systems worth $199,101,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Amalgamated Bank grew its position in shares of Cisco Systems by 1.1% in the first quarter. Amalgamated Bank now owns 787,185 shares of the network equipment provider's stock valued at $48,577,000 after purchasing an additional 8,673 shares during the period. Shilanski & Associates Inc. lifted its stake in Cisco Systems by 1.3% in the 1st quarter. Shilanski & Associates Inc. now owns 91,644 shares of the network equipment provider's stock valued at $5,655,000 after buying an additional 1,198 shares in the last quarter. Buttonwood Financial Advisors Inc. purchased a new position in Cisco Systems in the 1st quarter valued at about $200,000. Crown Wealth Group LLC boosted its holdings in Cisco Systems by 5.3% in the 1st quarter. Crown Wealth Group LLC now owns 3,995 shares of the network equipment provider's stock worth $247,000 after buying an additional 201 shares during the last quarter. Finally, Hobbs Wealth Management LLC increased its stake in Cisco Systems by 7.6% during the 1st quarter. Hobbs Wealth Management LLC now owns 4,211 shares of the network equipment provider's stock worth $260,000 after buying an additional 297 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on CSCO shares. JPMorgan Chase & Co. upped their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. KeyCorp started coverage on shares of Cisco Systems in a research note on Thursday. They issued an "overweight" rating and a $77.00 target price on the stock. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and an average target price of $69.53.
Check Out Our Latest Stock Report on CSCO
Insider Buying and Selling
In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of Cisco Systems stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the transaction, the senior vice president owned 36,937 shares in the company, valued at approximately $2,366,553.59. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company's stock.
Cisco Systems Stock Up 1.1%
Shares of NASDAQ:CSCO traded up $0.73 during trading on Monday, hitting $69.38. The company's stock had a trading volume of 32,551,463 shares, compared to its average volume of 20,284,518. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.60. The business has a 50 day moving average price of $62.57 and a two-hundred day moving average price of $61.12. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The company has a market capitalization of $274.74 billion, a PE ratio of 28.32, a P/E/G ratio of 4.11 and a beta of 0.88.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations 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 firm posted $0.88 EPS. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.36%. Cisco Systems's dividend payout ratio is currently 66.94%.
About Cisco Systems
(
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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