TIAA Trust National Association Has $8.56 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

TIAA Trust National Association reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 171,494 shares of the network equipment provider’s stock after selling 9,247 shares during the period. TIAA Trust National Association’s holdings in Cisco Systems were worth $8,559,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Cisco Systems by 1,096.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after purchasing an additional 2,663,676 shares during the last quarter. Roble Belko & Company Inc lifted its holdings in Cisco Systems by 77.1% during the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after acquiring an additional 2,788 shares in the last quarter. Louisiana State Employees Retirement System bought a new position in Cisco Systems during the fourth quarter worth about $28,685,000. Allen Mooney & Barnes Investment Advisors LLC lifted its holdings in Cisco Systems by 0.6% during the fourth quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 192,674 shares of the network equipment provider’s stock worth $9,734,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in Cisco Systems by 0.6% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock worth $13,683,000 after acquiring an additional 1,520 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.72 on Friday, hitting $47.32. The stock had a trading volume of 18,289,179 shares, compared to its average volume of 19,574,270. Cisco Systems, Inc. has a twelve month low of $44.95 and a twelve month high of $58.19. The business’s 50 day moving average is $46.90 and its two-hundred day moving average is $48.47. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The stock has a market cap of $190.64 billion, a price-to-earnings ratio of 15.93, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,106 shares of company stock worth $1,908,923. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. BNP Paribas raised 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. Oppenheimer lifted their target price on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Finally, Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $60.00 in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $56.47.

Cisco Systems 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.