Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 505,200 shares of the network equipment provider’s stock after selling 28,900 shares during the period. Cisco Systems accounts for about 0.6% of Louisiana State Employees Retirement System’s investment portfolio, making the stock its 15th largest position. Louisiana State Employees Retirement System’s holdings in Cisco Systems were worth $29,908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Highline Wealth Partners LLC lifted its position in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after buying an additional 260 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems during the 3rd quarter valued at about $40,000. Decker Retirement Planning Inc. purchased a new position in shares of Cisco Systems during the 4th quarter worth about $49,000. Capital Performance Advisors LLP acquired a new stake in shares of Cisco Systems in the third quarter worth approximately $51,000. Finally, FSA Wealth Management LLC purchased a new stake in Cisco Systems in the third quarter valued at approximately $56,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now directly owns 50,767 shares of the company’s stock, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the sale, the executive vice president now owns 219,100 shares in the company, valued at approximately $12,596,059. This trade represents a 20.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock worth $20,349,721 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Stock Performance

Cisco Systems stock opened at $62.43 on Wednesday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $63.25. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a market capitalization of $248.64 billion, a price-to-earnings ratio of 26.79, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84. The firm’s fifty day moving average price is $59.78 and its 200 day moving average price is $55.21.

Cisco Systems (NASDAQ:CSCO) last announced 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 business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. On average, research analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Bank of America lifted their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $66.00 to $73.00 in a research report on Monday, January 6th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective on the stock in a report on Tuesday, January 28th. Finally, Citigroup boosted their target price on Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 17th. Seven analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.72.

About Cisco Systems

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.