TIAA Trust National Association Has $30.52 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• TIAA Trust National Association increased its stake in Cisco Systems by 31.8%, acquiring an additional 119,220 shares, bringing its total holdings to 494,577 shares valued at approximately $30.5 million.
• Multiple hedge funds have also boosted their positions in Cisco, with Pacer Advisors Inc. increasing its stake by over 1,144% in the first quarter.
• Recent analyst actions have seen price targets for Cisco raised, with Rosenblatt Securities setting a new target of $74.00, reflecting a generally positive outlook with a majority of analysts rating the stock as a "buy".

TIAA Trust National Association boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 31.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 494,577 shares of the network equipment provider's stock after buying an additional 119,220 shares during the period. TIAA Trust National Association's holdings in Cisco Systems were worth $30,520,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Navigoe LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the 4th quarter valued at approximately $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 purchasing an additional 300 shares during the period. Fairway Wealth LLC boosted its stake in Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider's stock valued at $36,000 after purchasing an additional 400 shares during the period. Finally, Investment Management Corp VA ADV boosted its stake in Cisco Systems by 145.3% during the 1st quarter. Investment Management Corp VA ADV now owns 596 shares of the network equipment provider's stock valued at $37,000 after purchasing an additional 353 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Piper Sandler raised their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. KeyCorp initiated coverage on Cisco Systems in a research report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective for the company. Citigroup raised their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, New Street Research reiterated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Eight analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.35.

Cisco Systems Trading Up 2.1%

CSCO stock traded up $1.38 during midday trading on Monday, hitting $68.49. 17,046,413 shares of the company's stock were exchanged, compared to its average volume of 16,981,078. The stock's fifty day moving average price is $66.87 and its 200-day moving average price is $62.76. 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 cap of $271.22 billion, a PE ratio of 27.96, a price-to-earnings-growth ratio of 3.76 and a beta of 0.91. 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 posted 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 firm 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 company'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. Research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Insider Buying and Selling

In related news, insider Jeetendra I. Patel sold 899 shares of Cisco Systems stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the sale, the insider owned 255,377 shares of the company's stock, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,407 shares of Cisco Systems stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president directly owned 177,027 shares in the company, valued at approximately $11,331,498.27. This represents a 1.34% decrease in their position. 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 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.