Cisco Systems, Inc. (NASDAQ:CSCO) Stock Holdings Trimmed by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,312,825 shares of the network equipment provider’s stock after selling 527,138 shares during the period. New York State Common Retirement Fund’s holdings in Cisco Systems were worth $318,924,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Cassia Capital Partners LLC grew its position in Cisco Systems by 1.4% during the 3rd quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock worth $750,000 after acquiring an additional 191 shares during the last quarter. Waddell & Associates LLC grew its position in Cisco Systems by 0.8% during the 3rd quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock worth $1,328,000 after acquiring an additional 191 shares during the last quarter. Sax Wealth Advisors LLC grew its position in Cisco Systems by 3.6% during the 3rd quarter. Sax Wealth Advisors LLC now owns 5,686 shares of the network equipment provider’s stock worth $306,000 after acquiring an additional 196 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its holdings in Cisco Systems by 3.8% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 5,385 shares of the network equipment provider’s stock worth $290,000 after buying an additional 197 shares in the last quarter. Finally, Winch Advisory Services LLC lifted its holdings in Cisco Systems by 19.3% during the 3rd quarter. Winch Advisory Services LLC now owns 1,232 shares of the network equipment provider’s stock worth $66,000 after buying an additional 199 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CSCO. Barclays upped their price objective on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Thursday, February 15th. Piper Sandler increased their price target on Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a research note on Wednesday, March 20th. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. UBS Group increased their price target on Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, February 12th. Finally, Morgan Stanley assumed coverage on Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target on the stock. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $55.53.

Cisco Systems Stock Down 0.4 %

CSCO stock traded down $0.18 during trading hours on Monday, reaching $48.14. 20,131,136 shares of the stock were exchanged, compared to its average volume of 19,517,379. The firm’s 50-day moving average is $49.03 and its 200-day moving average is $50.17. The company has a market cap of $194.93 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 2.77 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company’s revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s payout ratio is currently 48.63%.

Insider Activity at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the transaction, the executive vice president now owns 191,559 shares of the company’s stock, valued at $9,579,865.59. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the transaction, the chief financial officer now directly owns 328,491 shares in the company, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,441 shares of company stock valued at $972,080. 0.02% of the stock is owned by insiders.

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.