Retirement Systems of Alabama Has $178.69 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Retirement Systems of Alabama decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,018,361 shares of the network equipment provider’s stock after selling 19,654 shares during the quarter. Cisco Systems accounts for approximately 0.7% of Retirement Systems of Alabama’s investment portfolio, making the stock its 19th largest position. Retirement Systems of Alabama’s holdings in Cisco Systems were worth $178,687,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. West Financial Advisors LLC increased its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the period. Highline Wealth Partners LLC grew its holdings in Cisco Systems by 76.7% during the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems in the 3rd quarter valued at approximately $40,000. Decker Retirement Planning Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at $49,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Cisco Systems during the third quarter worth $51,000. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the completion of the sale, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 in the last quarter. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CSCO. UBS Group increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Piper Sandler lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Barclays raised their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Tigress Financial upped their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Stock Up 0.5 %

CSCO stock opened at $61.34 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $62.31. The stock’s 50 day simple moving average is $59.49 and its 200 day simple moving average is $54.67. The company has a market cap of $244.30 billion, a P/E ratio of 26.33, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Friday, January 3rd. Cisco Systems’s payout ratio is presently 68.67%.

Cisco Systems Company 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.