Kentucky Retirement Systems Insurance Trust Fund Has $6.35 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Kentucky Retirement Systems Insurance Trust Fund lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 119,283 shares of the network equipment provider's stock after selling 11,320 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Cisco Systems were worth $6,348,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at approximately $25,000. Quarry LP grew its stake in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC increased its position in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 309 shares during the period. Hobbs Group Advisors LLC acquired a new position in Cisco Systems during the 2nd quarter valued at $36,000. Finally, Iron Horse Wealth Management LLC boosted its holdings in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock valued at $42,000 after purchasing an additional 766 shares during the period. Institutional investors own 73.33% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. New Street Research upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price objective on the stock in a report on Thursday, August 15th. HSBC raised Cisco Systems from a "hold" rating to a "buy" rating and upped their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Needham & Company LLC reissued a "hold" rating on shares of Cisco Systems in a report on Thursday, August 15th. Barclays upped their target price on Cisco Systems from $49.00 to $56.00 and gave the company an "equal weight" rating in a research note on Thursday. Finally, Evercore ISI lifted their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Friday, September 20th. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $59.42.

Insider Activity at Cisco Systems

In other news, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the transaction, the chief financial officer now owns 293,184 shares in the company, valued at $14,659,200. The trade was a 7.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company's stock, valued at approximately $2,376,085.52. The trade was a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,924 shares of company stock worth $1,798,131 in the last ninety days. Company insiders own 0.01% of the company's stock.

Cisco Systems Trading Down 0.8 %

CSCO traded down $0.46 during mid-day trading on Friday, reaching $57.46. The stock had a trading volume of 28,173,705 shares, compared to its average volume of 19,144,939. The stock has a market capitalization of $229.31 billion, a P/E ratio of 24.66, a P/E/G ratio of 4.90 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The firm's fifty day simple moving average is $54.18 and its two-hundred day simple moving average is $49.76.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the prior year, the business posted $1.01 earnings per share. Cisco Systems's revenue was down 10.3% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems's dividend payout ratio (DPR) is presently 68.67%.

About Cisco Systems

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.