Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 119,283 shares of the network equipment provider’s stock after selling 11,320 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Cisco Systems were worth $6,348,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CSCO. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems during the second quarter worth about $25,000. Quarry LP boosted its holdings in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its holdings in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Cisco Systems during the 2nd quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC raised its holdings in shares of Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after acquiring an additional 766 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on CSCO shares. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Jefferies Financial Group reduced their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. New Street Research raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Finally, Piper Sandler raised their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday. Eleven investment 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, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $59.42.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 6.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the sale, the chief financial officer now directly owns 293,184 shares of the company’s stock, valued at $14,659,200. This trade represents a 7.07 % 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.

Cisco Systems Stock Down 0.8 %

Shares of CSCO opened at $57.46 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm has a market cap of $229.31 billion, a P/E ratio of 24.66, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83. The company’s 50-day moving average price is $54.18 and its 200 day moving average price 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 issued its quarterly earnings data 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 firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 EPS. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio is currently 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.