Teacher Retirement System of Texas Sells 727,084 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Teacher Retirement System of Texas lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 28.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,800,676 shares of the network equipment provider's stock after selling 727,084 shares during the period. Cisco Systems accounts for 0.5% of Teacher Retirement System of Texas' holdings, making the stock its 28th biggest holding. Teacher Retirement System of Texas' holdings in Cisco Systems were worth $111,120,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Cisco Systems in the fourth quarter valued at $3,297,905,000. FMR LLC increased its stake in Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Cisco Systems in the fourth quarter valued at $560,722,000. Alyeska Investment Group L.P. bought a new stake in Cisco Systems in the fourth quarter valued at $413,491,000. Finally, GAMMA Investing LLC increased its stake in Cisco Systems by 7,096.5% in the first quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock valued at $414,593,000 after purchasing an additional 6,625,045 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president owned 181,186 shares in the company, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 1.5%

Cisco Systems stock traded up $1.05 during midday trading on Friday, hitting $69.64. 17,973,495 shares of the stock were exchanged, compared to its average volume of 20,350,689. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The stock has a market capitalization of $275.77 billion, a price-to-earnings ratio of 28.42, a price-to-earnings-growth ratio of 4.15 and a beta of 0.90. The business's 50-day moving average price is $63.93 and its 200-day moving average price is $61.45. 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 released its quarterly 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. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the previous year, the company earned $0.88 earnings per share. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Rosenblatt Securities lifted their price target 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. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Citigroup boosted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. 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 company. According to MarketBeat, Cisco Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.53.

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.