Arizona State Retirement System Buys 7,802 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Arizona State Retirement System raised its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,173,883 shares of the network equipment provider’s stock after acquiring an additional 7,802 shares during the quarter. Arizona State Retirement System’s holdings in Cisco Systems were worth $55,771,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in Cisco Systems in the 2nd quarter valued at about $25,000. Retirement Group LLC grew its position in shares of Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 263 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Tidemark LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $41,000. Finally, Redmont Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the 1st quarter worth approximately $41,000. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now owns 176,384 shares in the company, valued at $7,997,250.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Insiders have sold a total of 71,944 shares of company stock worth $3,566,120 over the last quarter. Company insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, August 15th. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a research report on Monday, May 13th. Wells Fargo & Company increased their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Barclays reduced their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems has a consensus rating of “Hold” and an average price target of $55.89.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $48.90 on Friday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.09. 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 firm has a market capitalization of $197.01 billion, a P/E ratio of 16.54, a P/E/G ratio of 3.98 and a beta of 0.83. The company’s 50 day moving average price is $47.82 and its two-hundred day moving average price is $47.94.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS 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 net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.01 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.27%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Cisco Systems Company 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.