New York State Teachers Retirement System Cuts Stake in Cisco Systems, Inc. (CSCO)

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New York State Teachers Retirement System decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,261,711 shares of the network equipment provider’s stock after selling 314,229 shares during the quarter. Cisco Systems makes up 0.9% of New York State Teachers Retirement System’s investment portfolio, making the stock its 18th largest position. New York State Teachers Retirement System owned approximately 0.17% of Cisco Systems worth $354,345,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Stonehearth Capital Management LLC purchased a new stake in Cisco Systems during the 4th quarter worth about $102,000. Keeler Thomas Management LLC purchased a new stake in Cisco Systems during the 4th quarter worth about $108,000. Goodman Financial Corp purchased a new stake in Cisco Systems during the 4th quarter worth about $115,000. Certified Advisory Corp purchased a new stake in Cisco Systems during the 4th quarter worth about $116,000. Finally, Tarbox Family Office Inc. lifted its holdings in Cisco Systems by 67.9% during the 4th quarter. Tarbox Family Office Inc. now owns 3,328 shares of the network equipment provider’s stock worth $127,000 after purchasing an additional 1,346 shares in the last quarter. Institutional investors own 73.76% of the company’s stock.

Shares of Cisco Systems stock opened at $43.16 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.28 and a current ratio of 2.34. The stock has a market cap of $210.72 billion, a PE ratio of 20.07, a PEG ratio of 3.11 and a beta of 1.09. Cisco Systems, Inc. has a 12 month low of $30.36 and a 12 month high of $46.37.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.01. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. The business had revenue of $12.46 billion for the quarter, compared to analyst estimates of $12.42 billion. During the same period last year, the company earned $0.60 EPS. research analysts forecast that Cisco Systems, Inc. will post 2.34 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 25th. Investors of record on Friday, July 6th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $1.32 annualized dividend and a yield of 3.06%. Cisco Systems’s payout ratio is 61.40%.

A number of analysts recently issued reports on the company. Credit Suisse Group assumed coverage on Cisco Systems in a report on Wednesday, May 9th. They set a “neutral” rating and a $41.00 price objective on the stock. Citigroup increased their price objective on Cisco Systems from $46.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, March 16th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $46.93 price objective on the stock in a report on Monday, March 19th. Piper Jaffray Companies reissued an “overweight” rating and set a $49.00 price objective (up previously from $48.00) on shares of Cisco Systems in a report on Wednesday, April 18th. Finally, Macquarie assumed coverage on Cisco Systems in a report on Monday, April 30th. They set an “outperform” rating on the stock. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $46.11.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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

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