State Treasurer State of Michigan reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,643,291 shares of the network equipment provider’s stock after selling 1,600 shares during the period. State Treasurer State of Michigan’s holdings in Cisco Systems were worth $51,435,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Dodge & Cox acquired a new position in shares of Cisco Systems during the fourth quarter valued at about $1,950,935,000. Norges Bank purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $1,306,395,000. Boston Partners boosted its stake in Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after buying an additional 23,002,159 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in Cisco Systems during the fourth quarter valued at approximately $134,343,000. Finally, Karp Capital Management Corp purchased a new stake in Cisco Systems during the first quarter valued at approximately $109,564,000. Hedge funds and other institutional investors own 75.28% of the company’s stock.

Shares of Cisco Systems, Inc. (CSCO) traded up 1.033% during mid-day trading on Monday, reaching $31.795. The company’s stock had a trading volume of 8,186,210 shares. The firm has a market cap of $158.98 billion, a price-to-earnings ratio of 16.140 and a beta of 1.24. The company’s 50-day moving average is $31.54 and its 200 day moving average is $32.53. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, beating the consensus estimate of $0.58 by $0.02. The firm had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post $2.38 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 58.29%.

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Several equities research analysts have recently commented on the company. Citigroup Inc. set a $36.00 target price on Cisco Systems and gave the company a “buy” rating in a research note on Friday, May 19th. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the stock a “hold” rating in a research note on Saturday, July 1st. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research note on Saturday, July 1st. Vetr cut Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price objective for the company. in a research note on Wednesday, April 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $37.00 price objective on shares of Cisco Systems in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have issued a buy rating to the company. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $35.31.

In other news, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of the transaction, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at $5,587,674.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 396,179 shares of company stock valued at $12,503,407. Insiders own 0.11% of the company’s stock.

About Cisco Systems

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).

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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