New York State Common Retirement Fund Sells 230,002 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

New York State Common Retirement Fund lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,717,255 shares of the network equipment provider’s stock after selling 230,002 shares during the quarter. New York State Common Retirement Fund owned about 0.14% of Cisco Systems worth $304,272,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Swedbank AB purchased a new position in shares of Cisco Systems in the first quarter worth $840,538,000. Dimensional Fund Advisors LP boosted its holdings in shares of Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after purchasing an additional 4,843,146 shares during the last quarter. Pathway Financial Advisers LLC grew 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 valued at $262,646,000 after purchasing an additional 4,842,542 shares in the last quarter. Natixis increased its holdings in shares of Cisco Systems by 438.4% in the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after purchasing an additional 4,010,228 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Cisco Systems by 26.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after purchasing an additional 2,906,357 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction 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 completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s 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 completion of the transaction, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last ninety days. 0.01% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of several research analyst reports. Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Piper Sandler reissued a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday, August 15th. Jefferies Financial Group decreased their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Barclays dropped their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Finally, Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $52.00 to $62.00 in a report on Wednesday, October 16th. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $56.74.

Cisco Systems Trading Up 0.5 %

CSCO stock traded up $0.30 during midday trading on Friday, reaching $55.07. The company’s stock had a trading volume of 1,060,350 shares, compared to its average volume of 18,961,826. The firm has a market capitalization of $219.77 billion, a price-to-earnings ratio of 21.56, a PEG ratio of 4.61 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $57.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a fifty day simple moving average of $52.53 and a two-hundred day simple moving average of $49.04.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.91%. Cisco Systems’s dividend payout ratio (DPR) is currently 62.99%.

About Cisco Systems

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.