Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 29,487 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 847,547 shares of the network equipment provider's stock after selling 29,487 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS's holdings in Cisco Systems were worth $50,175,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at about $26,000. Campbell Capital Management Inc. acquired a new position in 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% during 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 during the last quarter. Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $36,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $40,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Price Performance

CSCO stock traded up $0.67 on Monday, hitting $60.97. 28,313,023 shares of the company's stock traded hands, compared to its average volume of 18,050,558. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a market cap of $242.56 billion, a price-to-earnings ratio of 26.62, a P/E/G ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The stock has a fifty day moving average of $62.00 and a 200-day moving average of $58.25.

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Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems's dividend payout ratio (DPR) is 71.62%.

Cisco Systems declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CSCO shares. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Rosenblatt Securities upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $66.00 to $80.00 in a research report on Thursday, February 13th. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $69.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Finally, The Goldman Sachs Group increased their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Seven equities research 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 stock. According to data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus target price of $66.63.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the transaction, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the transaction, the chief financial officer now directly owns 335,605 shares in the company, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock worth $4,275,553 over the last 90 days. 0.01% of the stock is owned by company insiders.

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.