Virginia Retirement Systems ET AL lowered its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 39.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 691,500 shares of the network equipment provider’s stock after selling 445,700 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Cisco Systems were worth $23,255,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Opes Advisors Inc raised its stake in shares of Cisco Systems by 0.6% during the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock worth $236,000 after purchasing an additional 44 shares during the last quarter. Leisure Capital Management raised its stake in shares of Cisco Systems by 0.6% during the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock worth $233,000 after purchasing an additional 48 shares during the last quarter. Ronald Blue & Co. LLC raised its stake in shares of Cisco Systems by 0.3% during the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock worth $561,000 after purchasing an additional 57 shares during the last quarter. GM Advisory Group Inc. raised its stake in shares of Cisco Systems by 0.3% during the second quarter. GM Advisory Group Inc. now owns 19,548 shares of the network equipment provider’s stock worth $612,000 after purchasing an additional 61 shares during the last quarter. Finally, Telemus Capital LLC raised its stake in shares of Cisco Systems by 0.6% during the second quarter. Telemus Capital LLC now owns 12,235 shares of the network equipment provider’s stock worth $383,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 75.42% of the company’s stock.

Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $39.53 on Monday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The firm has a market capitalization of $195,421.38, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 3.55 and a beta of 1.23. Cisco Systems, Inc. has a twelve month low of $30.36 and a twelve month high of $42.98.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The company had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. Cisco Systems’s revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. equities research analysts forecast that Cisco Systems, Inc. will post 2.23 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.93%. The ex-dividend date was Thursday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.10%.

CSCO has been the subject of several analyst reports. Oppenheimer restated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research note on Friday, October 20th. Wells Fargo & Co restated an “outperform” rating and set a $42.00 price target on shares of Cisco Systems in a research note on Tuesday, November 14th. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research note on Wednesday, January 17th. Vetr raised Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price objective on the stock in a report on Wednesday, December 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Tuesday, October 24th. Twelve investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $39.66.

In related news, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the sale, the senior vice president now owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $95,092.94. Following the sale, the chief accounting officer now directly owns 89,184 shares in the company, valued at approximately $3,254,324.16. The disclosure for this sale can be found here. Insiders sold 348,643 shares of company stock worth $12,892,271 in the last three months. 0.05% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: “Virginia Retirement Systems ET AL Trims Holdings in Cisco Systems, Inc. (CSCO)” was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://theolympiareport.com/2018/02/12/virginia-retirement-systems-et-al-trims-holdings-in-cisco-systems-inc-csco.html.

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).

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.