Kentucky Retirement Systems Sells 24,463 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Kentucky Retirement Systems reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 280,669 shares of the network equipment provider’s stock after selling 24,463 shares during the quarter. Kentucky Retirement Systems’ holdings in Cisco Systems were worth $14,937,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after buying an additional 288,775 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after purchasing an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in Cisco Systems by 10.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after purchasing an additional 162,544 shares in the last quarter. Quintet Private Bank Europe S.A. grew its stake in Cisco Systems by 17.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock valued at $33,830,000 after purchasing an additional 92,179 shares during the last quarter. Finally, IRON Financial LLC bought a new position in Cisco Systems in the third quarter worth about $856,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Trading Down 0.8 %

NASDAQ CSCO opened at $57.46 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The stock has a market capitalization of $229.31 billion, a P/E ratio of 24.66, a PEG ratio of 4.90 and a beta of 0.83. The firm’s 50-day moving average is $54.18 and its two-hundred day moving average is $49.76. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.38.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company posted $1.01 EPS. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed 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 of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems’s payout ratio is presently 68.67%.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the transaction, the chief financial officer now owns 293,184 shares in the company, valued at approximately $14,659,200. The trade was a 7.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,924 shares of company stock worth $1,798,131. 0.01% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CSCO. Morgan Stanley lifted their price objective on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. UBS Group boosted their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.42.

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.