New Mexico Educational Retirement Board Has $11.37 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

New Mexico Educational Retirement Board reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,074 shares of the network equipment provider's stock after selling 5,900 shares during the period. New Mexico Educational Retirement Board's holdings in Cisco Systems were worth $11,371,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp boosted its stake in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock valued at $10,297,506,000 after acquiring an additional 3,241,682 shares during the period. Geode Capital Management LLC raised its holdings in shares of Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider's stock valued at $5,075,320,000 after buying an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider's stock valued at $4,402,239,000 after buying an additional 1,677,383 shares during the last quarter. FMR LLC raised its holdings in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Cisco Systems by 1.2% during the fourth quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider's stock valued at $1,107,930,000 after buying an additional 216,632 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

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Cisco Systems Trading Down 0.4 %

NASDAQ CSCO traded down $0.28 on Tuesday, hitting $64.59. 22,039,748 shares of the stock were exchanged, compared to its average volume of 20,130,648. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a market capitalization of $257.25 billion, a price-to-earnings ratio of 27.72, a P/E/G ratio of 4.63 and a beta of 0.84. The company's 50-day moving average price is $60.19 and its two-hundred day moving average price is $55.76.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted 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 25.70% and a net margin of 17.73%. Research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.54%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems's payout ratio is presently 68.67%.

Cisco Systems declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CSCO shares. StockNews.com raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday. Melius raised Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the company from $66.00 to $73.00 in a report on Monday, January 6th. Bank of America lifted their price target on Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, November 14th. UBS Group boosted their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. boosted their target price on Cisco Systems from $69.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus target price of $66.53.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company's stock, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 31,983 shares of the company's 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 in the company, valued at $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 89,151 shares of company stock worth $5,510,263 in the last ninety days. Corporate insiders own 0.01% of the company's stock.

Cisco Systems 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.