Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,484,948 shares of the network equipment provider's stock after selling 39,944 shares during the quarter. State of Tennessee Department of Treasury's holdings in Cisco Systems were worth $87,909,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Tower Research Capital LLC TRC lifted its position in shares of Cisco Systems by 118.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 341,738 shares of the network equipment provider's stock worth $20,231,000 after purchasing an additional 184,965 shares in the last quarter. Transce3nd LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $96,000. MML Investors Services LLC boosted its position in Cisco Systems by 3.4% in the 4th quarter. MML Investors Services LLC now owns 964,086 shares of the network equipment provider's stock valued at $57,074,000 after buying an additional 31,865 shares during the period. MetLife Investment Management LLC increased its position in shares of Cisco Systems by 0.7% during the fourth quarter. MetLife Investment Management LLC now owns 1,055,143 shares of the network equipment provider's stock worth $62,464,000 after acquiring an additional 7,068 shares during the period. Finally, Norinchukin Bank The raised its stake in shares of Cisco Systems by 6.8% in the fourth quarter. Norinchukin Bank The now owns 225,593 shares of the network equipment provider's stock valued at $13,355,000 after acquiring an additional 14,341 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $1,283,626.89. Following the sale, the chief financial officer now owns 335,605 shares in the company, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 31,983 shares of the firm's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the transaction, the chief executive officer now directly owns 736,120 shares of the company's stock, valued at $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,547 shares of company stock valued at $4,275,553. Corporate insiders own 0.01% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Rosenblatt Securities cut their price target on Cisco Systems from $80.00 to $63.00 and set a "buy" rating on the stock in a report on Tuesday. UBS Group lifted their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. StockNews.com downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Wednesday, March 5th. Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $64.68.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO traded up $0.66 during mid-day trading on Thursday, hitting $56.29. 22,762,574 shares of the company were exchanged, compared to its average volume of 20,193,854. The stock has a 50 day simple moving average of $60.16 and a 200-day simple moving average of $59.13. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The firm has a market cap of $223.94 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.91%. Cisco Systems's dividend payout ratio is 71.62%.

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 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.