Teachers Retirement System of The State of Kentucky Has $53.70 Million Holdings in Cisco Systems, Inc. $CSCO

by · The Markets Daily

Teachers Retirement System of The State of Kentucky lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 150.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 784,906 shares of the network equipment provider’s stock after buying an additional 472,000 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cisco Systems were worth $53,703,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after acquiring an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after acquiring an additional 2,474 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of Cisco Systems by 7.5% during the second quarter. Sivia Capital Partners LLC now owns 10,178 shares of the network equipment provider’s stock worth $706,000 after purchasing an additional 712 shares during the period. Schnieders Capital Management LLC. lifted its holdings in shares of Cisco Systems by 3.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 13,974 shares of the network equipment provider’s stock worth $969,000 after purchasing an additional 519 shares in the last quarter. Finally, Assetmark Inc. grew its position in Cisco Systems by 21.9% in the 2nd quarter. Assetmark Inc. now owns 118,695 shares of the network equipment provider’s stock valued at $8,235,000 after purchasing an additional 21,318 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.1%

Shares of Cisco Systems stock opened at $79.42 on Tuesday. The firm has a market cap of $313.70 billion, a PE ratio of 27.87, a P/E/G ratio of 3.00 and a beta of 0.87. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $88.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The stock has a fifty day moving average price of $77.85 and a 200-day moving average price of $73.82.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. The company had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Thursday, April 2nd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio (DPR) is 58.95%.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of recent research reports. Piper Sandler raised their price objective on shares of Cisco Systems from $70.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Bank of America upped their target price on shares of Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, November 13th. Argus upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Wells Fargo & Company increased their price objective on Cisco Systems from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Finally, Wall Street Zen upgraded Cisco Systems from a “hold” rating to a “buy” rating in a report on Saturday. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.55.

View Our Latest Analysis on CSCO

Insiders Place Their Bets

In other Cisco Systems news, insider Jeetendra I. Patel sold 11,248 shares of the business’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $854,848.00. Following the sale, the insider directly owned 262,776 shares in the company, valued at $19,970,976. The trade was a 4.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 19,545 shares of the stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $1,485,420.00. Following the transaction, the chief executive officer owned 671,095 shares of the company’s stock, valued at $51,003,220. The trade was a 2.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 75,677 shares of company stock valued at $5,811,211 in the last quarter. 0.01% of the stock is currently owned by company insiders.

About Cisco Systems

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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