New Mexico Educational Retirement Board lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 464,824 shares of the network equipment provider’s stock after selling 42,900 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Cisco Systems were worth $14,619,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Barnett & Company Inc. boosted its position in shares of Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after purchasing an additional 3,023 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Cisco Systems by 141.3% in the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 2,120 shares in the last quarter. Watermark Asset Management Inc. acquired a new stake in shares of Cisco Systems in the 1st quarter worth $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Cisco Systems by 15.0% in the 1st quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after purchasing an additional 560 shares in the last quarter. Finally, Baystate Wealth Management LLC boosted its position in shares of Cisco Systems by 24.5% in the 1st quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock worth $146,000 after purchasing an additional 1,484 shares in the last quarter. 75.24% of the stock is currently owned by institutional investors and hedge funds.

CSCO has been the subject of a number of recent analyst reports. Cowen and Company reissued an “outperform” rating and issued a $39.00 price objective on shares of Cisco Systems in a research report on Tuesday, July 4th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 price objective for the company in a research report on Thursday, July 6th. Sanford C. Bernstein reissued an “outperform” rating and issued a $38.00 price objective on shares of Cisco Systems in a research report on Friday, July 14th. Zacks Investment Research raised Cisco Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, BMO Capital Markets reissued a “hold” rating on shares of Cisco Systems in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $35.30.

Cisco Systems, Inc. (CSCO) opened at 34.15 on Wednesday. The stock’s 50 day moving average price is $33.49 and its 200 day moving average price is $32.41. The firm has a market capitalization of $169.11 billion, a PE ratio of 17.97 and a beta of 1.21. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.73.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same period last year, the company posted $0.63 EPS. The company’s revenue was down 4.0% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.40%. Cisco Systems’s dividend payout ratio (DPR) is 60.73%.

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In related news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the sale, the insider now owns 729,305 shares in the company, valued at $22,710,557.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $821,954.28. Following the sale, the chief accounting officer now owns 119,996 shares in the company, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 485,138 shares of company stock valued at $15,347,574. Corporate insiders own 0.05% of the company’s stock.

Cisco Systems Profile

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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