New York State Common Retirement Fund Has $325.37 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

New York State Common Retirement Fund reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,272,602 shares of the network equipment provider's stock after selling 358,510 shares during the quarter. Cisco Systems accounts for 0.5% of New York State Common Retirement Fund's portfolio, making the stock its 27th largest position. New York State Common Retirement Fund owned about 0.13% of Cisco Systems worth $325,372,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Navigoe LLC purchased a new position in shares of Cisco Systems in the fourth quarter valued at $26,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Cisco Systems in the fourth quarter valued at $26,000. JDM Financial Group LLC boosted its stake in Cisco Systems by 160.4% during 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 last quarter. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems during the 4th quarter valued at $30,000. Finally, Campbell Capital Management Inc. bought a new position in Cisco Systems during the 4th quarter valued at $31,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

In other news, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 309,543 shares in the company, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the transaction, the executive vice president owned 131,676 shares of the company's stock, valued at approximately $8,365,376.28. This trade represents a 10.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 over the last ninety days. Insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CSCO shares. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their price objective for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Rosenblatt Securities increased their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded shares of 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 research note on Thursday, May 15th. Evercore ISI increased their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Finally, Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $69.95.

Cisco Systems Price Performance

CSCO traded down $0.66 on Monday, reaching $67.30. The company had a trading volume of 3,620,023 shares, compared to its average volume of 21,672,686. The company has a fifty day moving average of $65.02 and a 200-day moving average of $61.83. The company has a market capitalization of $266.49 billion, a P/E ratio of 27.48, a PEG ratio of 4.07 and a beta of 0.90. 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 one year low of $44.50 and a one year high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its 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 firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.44%. Cisco Systems's dividend payout ratio is presently 66.94%.

Cisco Systems 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.