Public Employees Retirement Association of Colorado Sells 17,852 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Public Employees Retirement Association of Colorado decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 559,278 shares of the network equipment provider’s stock after selling 17,852 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Cisco Systems were worth $26,571,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Gilbert & Cook Inc. boosted its stake in shares of Cisco Systems by 1.1% in the 4th quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock valued at $1,183,000 after purchasing an additional 264 shares in the last quarter. Gryphon Financial Partners LLC lifted its position in shares of Cisco Systems by 104.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock worth $1,177,000 after purchasing an additional 11,767 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Cisco Systems by 4.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 14,080 shares of the network equipment provider’s stock valued at $711,000 after acquiring an additional 645 shares in the last quarter. Pzena Investment Management LLC increased its stake in Cisco Systems by 0.6% during the 4th quarter. Pzena Investment Management LLC now owns 583,559 shares of the network equipment provider’s stock valued at $29,481,000 after purchasing an additional 3,594 shares in the last quarter. Finally, Tidemark LLC bought a new stake in Cisco Systems during the 4th quarter valued at $41,000. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price objective for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft increased their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, Rosenblatt Securities raised their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.89.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $51.44 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The business’s 50 day moving average price is $48.43 and its 200-day moving average price is $48.03. The firm has a market capitalization of $207.24 billion, a PE ratio of 17.32, a P/E/G ratio of 3.87 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $56.05.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.01 earnings per share. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.11%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 over the last quarter. 0.02% of the stock is currently owned by company insiders.

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.