Teacher Retirement System of Texas Sells 727,084 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Teacher Retirement System of Texas lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 28.8% in the first quarter, Holdings Channel.com reports. The fund owned 1,800,676 shares of the network equipment provider’s stock after selling 727,084 shares during the period. Cisco Systems makes up 0.5% of Teacher Retirement System of Texas’ investment portfolio, making the stock its 28th largest holding. Teacher Retirement System of Texas’ holdings in Cisco Systems were worth $111,120,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Navigoe LLC bought a new position in Cisco Systems during the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC boosted its stake in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the fourth quarter valued at $30,000. Finally, Campbell Capital Management Inc. acquired a new position in Cisco Systems during the fourth quarter worth $31,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the transaction, the executive vice president directly owned 181,186 shares in the company, valued at approximately $11,505,311. The trade was a 5.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer owned 688,409 shares in the company, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 over the last ninety days. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 0.7%

Shares of Cisco Systems stock opened at $68.59 on Thursday. The business has a fifty day simple moving average of $63.41 and a 200 day simple moving average of $61.30. The stock has a market cap of $271.62 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 4.13 and a beta of 0.90. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period in the prior year, the business posted $0.88 EPS. Cisco Systems’s revenue was up 11.4% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. Cisco Systems’s dividend payout ratio is 66.94%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CSCO. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. Piper Sandler upped their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, Citigroup increased their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $69.53.

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.