Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,001,252 shares of the network equipment provider's stock after selling 140,480 shares during the quarter. Public Employees Retirement System of Ohio owned 0.05% of Cisco Systems worth $106,507,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. SGL Investment Advisors Inc. acquired a new position in Cisco Systems during the 3rd quarter worth $244,000. EWA LLC acquired a new position in Cisco Systems during the 3rd quarter worth $298,000. Cape Cod Five Cents Savings Bank grew its stake in Cisco Systems by 13.2% during the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 16,278 shares of the network equipment provider's stock worth $866,000 after purchasing an additional 1,900 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Cisco Systems by 2.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,583,832 shares of the network equipment provider's stock worth $137,512,000 after purchasing an additional 52,242 shares in the last quarter. Finally, MML Investors Services LLC grew its stake in Cisco Systems by 1.4% during the 3rd quarter. MML Investors Services LLC now owns 932,221 shares of the network equipment provider's stock worth $49,613,000 after purchasing an additional 12,849 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Price Performance

NASDAQ:CSCO traded down $0.13 during trading hours on Monday, reaching $59.89. 14,623,064 shares of the company traded hands, compared to its average volume of 19,484,742. The firm's 50-day moving average is $56.53 and its 200-day moving average is $50.96. The stock has a market cap of $238.53 billion, a P/E ratio of 25.70, a P/E/G ratio of 4.46 and a beta of 0.85. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.23.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems's quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.98 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's dividend payout ratio is presently 68.67%.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares of the company's stock, valued at approximately $6,501,957.20. This trade represents a 0.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,860 shares of company stock valued at $20,231,558 in the last quarter. 0.01% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Jefferies Financial Group lowered their target price on Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a research note on Thursday, August 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cisco Systems in a research report on Thursday, August 15th. HSBC raised Cisco Systems from a "hold" rating to a "buy" rating and upped their price objective for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Evercore ISI upped their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Finally, Rosenblatt Securities upped their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a "neutral" rating in a research report on Thursday, August 15th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and a consensus price target of $59.94.

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.