Utah Retirement Systems Has $42.19 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Utah Retirement Systems decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 815,863 shares of the network equipment provider’s stock after selling 35,900 shares during the quarter. Cisco Systems comprises approximately 0.6% of Utah Retirement Systems’ investment portfolio, making the stock its 26th biggest position. Utah Retirement Systems’ holdings in Cisco Systems were worth $42,189,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Better Money Decisions LLC acquired a new stake in Cisco Systems during the first quarter worth approximately $30,000. Navis Wealth Advisors LLC acquired a new stake in Cisco Systems during the fourth quarter worth approximately $30,000. Stuart Chaussee & Associates Inc. grew its position in Cisco Systems by 43.2% during the first quarter. Stuart Chaussee & Associates Inc. now owns 716 shares of the network equipment provider’s stock worth $37,000 after buying an additional 216 shares in the last quarter. Defined Wealth Management LLC acquired a new stake in Cisco Systems during the fourth quarter worth approximately $34,000. Finally, ShoreHaven Wealth Partners LLC grew its position in Cisco Systems by 55.2% during the first quarter. ShoreHaven Wealth Partners LLC now owns 776 shares of the network equipment provider’s stock worth $40,000 after buying an additional 276 shares in the last quarter. 72.08% of the stock is currently owned by institutional investors.

In related news, SVP Prat Bhatt sold 3,829 shares of the firm’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $53.50, for a total value of $204,851.50. Following the transaction, the senior vice president now owns 106,222 shares of the company’s stock, valued at approximately $5,682,877. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Maria Martinez sold 12,000 shares of the firm’s stock in a transaction dated Monday, May 24th. The shares were sold at an average price of $53.50, for a total transaction of $642,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,864 shares of company stock valued at $4,186,457. 0.02% of the stock is currently owned by company insiders.

Several equities research analysts have weighed in on the company. DZ Bank restated a “hold” rating and set a $51.00 target price on shares of Cisco Systems in a research note on Thursday, May 27th. Deutsche Bank Aktiengesellschaft assumed coverage on Cisco Systems in a research note on Tuesday, April 20th. They set a “hold” rating and a $55.00 target price for the company. KeyCorp restated a “sector weight” rating on shares of Cisco Systems in a research note on Thursday, April 29th. Morgan Stanley increased their price target on Cisco Systems from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, April 16th. Finally, The Goldman Sachs Group upgraded Cisco Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $50.00 to $59.00 in a research note on Thursday, March 25th. Ten analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Cisco Systems currently has an average rating of “Buy” and a consensus price target of $51.85.

Cisco Systems stock traded up $0.08 during trading hours on Thursday, reaching $53.96. 125,877 shares of the company’s stock were exchanged, compared to its average volume of 14,389,840. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.53 and a quick ratio of 1.46. The stock’s 50 day moving average price is $53.30. Cisco Systems, Inc. has a twelve month low of $35.28 and a twelve month high of $55.35. The firm has a market cap of $227.40 billion, a price-to-earnings ratio of 22.39, a PEG ratio of 3.00 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Tuesday, May 18th. The network equipment provider reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. The firm had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.57 billion. Cisco Systems had a return on equity of 31.12% and a net margin of 20.92%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period last year, the business posted $0.79 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Tuesday, July 6th will be paid a $0.37 dividend. The ex-dividend date is Friday, July 2nd. This represents a $1.48 annualized dividend and a dividend yield of 2.74%. Cisco Systems’s dividend payout ratio is presently 50.68%.

Cisco Systems Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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

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