Teachers Retirement System of The State of Kentucky Sells 20,859 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Teachers Retirement System of The State of Kentucky trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 303,830 shares of the network equipment provider's stock after selling 20,859 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Cisco Systems were worth $16,170,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC raised its position 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 worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP raised its position in shares of Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider's stock worth $362,907,000 after acquiring an additional 5,223,800 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider's stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares during the last quarter. Pathway Financial Advisers LLC raised its position in shares of Cisco Systems by 5,231.5% during the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider's stock worth $262,646,000 after acquiring an additional 4,842,542 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of Cisco Systems by 79.6% during the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider's stock worth $477,463,000 after acquiring an additional 3,975,028 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of analyst reports. Tigress Financial raised their price objective on Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Jefferies Financial Group decreased 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. Piper Sandler raised their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Rosenblatt Securities raised their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a "neutral" rating in a research note on Thursday, August 15th. Finally, Barclays raised their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Ten 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $59.94.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 over the last 90 days. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 0.4 %

Shares of NASDAQ:CSCO traded up $0.26 during mid-day trading on Thursday, hitting $58.85. 17,649,973 shares of the company traded hands, compared to its average volume of 19,094,416. The stock has a market cap of $234.39 billion, a P/E ratio of 25.15, a P/E/G ratio of 4.39 and a beta of 0.85. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.23. The stock has a 50-day moving average price of $56.89 and a two-hundred day moving average price of $51.19.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The company 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 previous year, the firm earned $0.98 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. Cisco Systems's payout ratio is 68.67%.

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.