New York State Teachers Retirement System cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,456,186 shares of the network equipment provider’s stock after selling 102,691 shares during the period. Cisco Systems comprises about 0.7% of New York State Teachers Retirement System’s holdings, making the stock its 26th largest position. New York State Teachers Retirement System owned about 0.15% of Cisco Systems worth $309,639,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in CSCO. Nachman Norwood & Parrott Inc lifted its holdings in Cisco Systems by 8.3% in the 3rd quarter. Nachman Norwood & Parrott Inc now owns 18,996 shares of the network equipment provider’s stock valued at $938,000 after purchasing an additional 1,460 shares in the last quarter. Evoke Wealth LLC acquired a new position in shares of Cisco Systems during the 3rd quarter valued at about $1,387,000. Eagle Asset Management Inc. increased its stake in shares of Cisco Systems by 10.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 3,195,050 shares of the network equipment provider’s stock valued at $157,867,000 after acquiring an additional 299,499 shares during the last quarter. Sepio Capital LLC increased its stake in shares of Cisco Systems by 16.0% during the 3rd quarter. Sepio Capital LLC now owns 231,224 shares of the network equipment provider’s stock valued at $11,419,000 after acquiring an additional 31,894 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new position in shares of Cisco Systems during the 2nd quarter valued at about $2,455,000. Institutional investors and hedge funds own 72.54% of the company’s stock.
CSCO opened at $48.85 on Monday. The firm has a 50 day moving average price of $47.21 and a 200 day moving average price of $48.84. The company has a market cap of $207.23 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.84 and a beta of 1.23. Cisco Systems, Inc. has a 1 year low of $43.40 and a 1 year high of $58.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.70.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.03. The firm had revenue of $13.16 billion during the quarter, compared to the consensus estimate of $13.09 billion. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The company’s revenue was up .7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.94 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, January 2nd. Cisco Systems’s dividend payout ratio (DPR) is 49.12%.
In other Cisco Systems news, CEO Charles Robbins sold 12,597 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $44.81, for a total value of $564,471.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Irving Tan sold 10,733 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $44.81, for a total transaction of $480,945.73. Following the completion of the sale, the executive vice president now directly owns 172,199 shares of the company’s stock, valued at approximately $7,716,237.19. The disclosure for this sale can be found here. Insiders sold 388,864 shares of company stock valued at $17,474,321 in the last ninety days. 0.03% of the stock is owned by corporate insiders.
A number of research firms have recently commented on CSCO. Edward Jones raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. UBS Group reaffirmed a “buy” rating and set a $54.00 price objective (down previously from $58.00) on shares of Cisco Systems in a research note on Thursday, November 14th. Wells Fargo & Co reaffirmed a “buy” rating and set a $58.00 price objective (down previously from $60.00) on shares of Cisco Systems in a research note on Thursday, November 14th. Goldman Sachs Group set a $48.00 price objective on shares of Cisco Systems and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, ValuEngine raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Thirteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $54.78.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
Read More: Price to Earnings Ratio (PE) Basics
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