Maryland State Retirement & Pension System Sells 12,099 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Maryland State Retirement & Pension System cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 313,259 shares of the network equipment provider’s stock after selling 12,099 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Cisco Systems were worth $16,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Central Bank & Trust Co. increased its holdings in shares of Cisco Systems by 1.9% in the 1st quarter. Central Bank & Trust Co. now owns 10,930 shares of the network equipment provider’s stock valued at $571,000 after acquiring an additional 204 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its holdings in shares of Cisco Systems by 1.6% in the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 13,648 shares of the network equipment provider’s stock valued at $713,000 after acquiring an additional 211 shares during the last quarter. Stillwater Investment Management LLC boosted its position in shares of Cisco Systems by 0.3% in the 1st quarter. Stillwater Investment Management LLC now owns 73,720 shares of the network equipment provider’s stock valued at $3,854,000 after purchasing an additional 214 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its position in shares of Cisco Systems by 0.5% in the 1st quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 40,473 shares of the network equipment provider’s stock valued at $2,116,000 after purchasing an additional 215 shares during the period. Finally, Pin Oak Investment Advisors Inc. boosted its position in shares of Cisco Systems by 3.3% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 6,706 shares of the network equipment provider’s stock valued at $319,000 after purchasing an additional 217 shares during the period. 72.21% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 2,158 shares of Cisco Systems stock in a transaction on Friday, August 18th. The stock was sold at an average price of $55.15, for a total value of $119,013.70. Following the completion of the sale, the executive vice president now owns 173,618 shares of the company’s stock, valued at $9,575,032.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,158 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $55.15, for a total transaction of $119,013.70. Following the completion of the sale, the executive vice president now owns 173,618 shares of the company’s stock, valued at $9,575,032.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,022 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the sale, the executive vice president now directly owns 169,396 shares of the company’s stock, valued at approximately $9,523,443.12. The disclosure for this sale can be found here. Insiders sold a total of 54,438 shares of company stock valued at $2,948,779 over the last quarter. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $56.04 on Monday. Cisco Systems, Inc. has a 1-year low of $38.60 and a 1-year high of $58.19. The company has a market capitalization of $227.23 billion, a P/E ratio of 18.25, a PEG ratio of 2.49 and a beta of 0.97. The business has a 50 day moving average price of $54.20 and a 200 day moving average price of $51.17. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The company had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.05 billion. During the same period in the previous year, the firm posted $0.74 earnings per share. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 3.58 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Wednesday, October 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Tuesday, October 3rd. Cisco Systems’s dividend payout ratio is currently 50.81%.

Analysts Set New Price Targets

A number of analysts recently issued reports on CSCO shares. Piper Sandler upped their target price on Cisco Systems from $51.00 to $53.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. Evercore ISI upped their target price on Cisco Systems from $60.00 to $63.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. Raymond James upped their target price on Cisco Systems from $64.00 to $65.00 and gave the company an “outperform” rating in a research report on Thursday, August 17th. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a research report on Monday, August 21st. Finally, Morgan Stanley increased their price objective on Cisco Systems from $55.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $59.43.

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.