Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 298,419 shares of the network equipment provider's stock after selling 5,411 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Cisco Systems were worth $17,666,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter valued at $26,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth about $30,000. Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems in the fourth quarter valued at approximately $31,000. Highline Wealth Partners LLC grew its holdings in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock valued at $35,000 after purchasing an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC purchased a new stake in Cisco Systems during the 4th quarter worth approximately $36,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares of the company's stock, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock worth $4,275,553 over the last three months. 0.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CSCO has been the subject of several recent research reports. UBS Group raised their price target on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Melius raised Cisco Systems from a "hold" rating to a "buy" rating and boosted their target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Melius Research raised Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. StockNews.com lowered shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 5th. Finally, Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $64.68.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.66 on Thursday, reaching $56.29. The company's stock had a trading volume of 22,762,574 shares, compared to its average volume of 20,193,853. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a market capitalization of $223.94 billion, a P/E ratio of 24.58, a PEG ratio of 4.16 and a beta of 0.86. The stock's 50-day moving average is $60.16 and its two-hundred day moving average is $59.13. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its 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 net margin of 16.96% and a return on equity of 26.08%. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

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

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd were issued a $0.41 dividend. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Thursday, April 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 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.