Cisco Systems, Inc. (CSCO) Position Increased by Teacher Retirement System of Texas
Teacher Retirement System of Texas increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,078,513 shares of the network equipment provider’s stock after buying an additional 413,939 shares during the quarter. Teacher Retirement System of Texas owned 0.06% of Cisco Systems worth $96,357,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in CSCO. Barnett & Company Inc. increased its holdings in Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after purchasing an additional 3,023 shares in the last quarter. Grove Bank & Trust increased its holdings in Cisco Systems by 141.3% in the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 2,120 shares in the last quarter. Watermark Asset Management Inc. acquired a new position in Cisco Systems in the 1st quarter worth about $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its holdings in Cisco Systems by 15.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after purchasing an additional 560 shares in the last quarter. Finally, Baystate Wealth Management LLC increased its holdings in Cisco Systems by 24.5% in the 1st quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after purchasing an additional 1,484 shares in the last quarter. Institutional investors and hedge funds own 75.22% of the company’s stock.
A number of equities analysts have issued reports on CSCO shares. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $32.45 target price for the company. in a report on Friday, July 14th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $38.00 target price on shares of Cisco Systems in a report on Friday, July 14th. Zacks Investment Research raised Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. BMO Capital Markets reaffirmed a “hold” rating on shares of Cisco Systems in a report on Friday, July 28th. Finally, BidaskClub cut Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $35.26.
In other Cisco Systems news, SVP Mark D. Chandler sold 65,000 shares of the firm’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the sale, the chief accounting officer now directly owns 119,996 shares of the company’s stock, valued at $3,847,071.76. The disclosure for this sale can be found here. Insiders sold 485,138 shares of company stock valued at $15,347,574 over the last three months. Company insiders own 0.05% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $34.47 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.03 and a quick ratio of 2.98. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.75. The stock has a market capitalization of $170,687.92, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 3.01 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. During the same period last year, the business posted $0.63 earnings per share. The business’s revenue for the quarter was down 4.0% on a year-over-year basis. equities analysts predict that Cisco Systems, Inc. will post 2.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Wednesday, October 4th. Cisco Systems’s dividend payout ratio is currently 60.73%.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).
Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.