Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 280,669 shares of the network equipment provider's stock after selling 24,463 shares during the period. Kentucky Retirement Systems' holdings in Cisco Systems were worth $14,937,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Cisco Systems in the 2nd quarter worth approximately $25,000. West Financial Advisors LLC lifted its stake in shares of 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 buying an additional 309 shares during the period. Quarry LP grew its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after buying an additional 456 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems in the 2nd quarter valued at $36,000. Finally, Iron Horse Wealth Management LLC raised its stake 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 worth $42,000 after acquiring an additional 766 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now owns 293,184 shares of the company's stock, valued at approximately $14,659,200. This trade represents a 7.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the business's stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. This trade represents a 5.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,924 shares of company stock valued at $1,798,131 in the last 90 days. 0.01% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research analyst reports. Barclays boosted their price target on Cisco Systems from $49.00 to $56.00 and gave the company an "equal weight" rating in a research note on Thursday. Citigroup increased their price target on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday. Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. StockNews.com upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Piper Sandler raised their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.42.

Cisco Systems Price Performance

Shares of CSCO traded down $0.46 during mid-day trading on Friday, hitting $57.46. 28,173,705 shares of the company were exchanged, compared to its average volume of 19,144,939. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38. The stock has a market cap of $229.31 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83. The company has a 50 day moving average of $54.18 and a 200-day moving average of $49.76.

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

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. Cisco Systems's payout ratio is currently 68.67%.

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.