Resources Management Corp CT ADV acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 100,789 shares of the network equipment provider’s stock, valued at approximately $4,980,000.
Other large investors have also modified their holdings of the company. Nuveen Asset Management LLC grew its stake in shares of Cisco Systems by 1,546.1% in the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock valued at $2,642,650,000 after buying an additional 45,351,980 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Cisco Systems by 2.8% during the 3rd quarter. Fisher Asset Management LLC now owns 30,517,061 shares of the network equipment provider’s stock worth $1,507,848,000 after acquiring an additional 839,300 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Cisco Systems by 13.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 21,589,214 shares of the network equipment provider’s stock worth $1,066,724,000 after acquiring an additional 2,496,113 shares in the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Cisco Systems by 2.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 18,929,924 shares of the network equipment provider’s stock valued at $1,036,035,000 after acquiring an additional 478,368 shares during the period. Finally, First Trust Advisors LP boosted its holdings in Cisco Systems by 155.6% during the 3rd quarter. First Trust Advisors LP now owns 17,446,107 shares of the network equipment provider’s stock valued at $862,012,000 after acquiring an additional 10,621,798 shares during the period. 72.62% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the stock. JPMorgan Chase & Co. set a $62.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Monday, August 12th. Barclays dropped their price objective on shares of Cisco Systems from $51.00 to $47.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Royal Bank of Canada set a $56.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Wednesday, November 13th. ValuEngine upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, MKM Partners decreased their price target on shares of Cisco Systems from $56.00 to $51.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $54.53.
Shares of NASDAQ:CSCO traded down $0.39 during trading hours on Wednesday, reaching $43.89. The stock had a trading volume of 17,198,324 shares, compared to its average volume of 20,600,621. Cisco Systems, Inc. has a 1 year low of $40.25 and a 1 year high of $58.26. The firm’s 50 day moving average is $46.44 and its 200-day moving average is $50.99. The stock has a market capitalization of $192.22 billion, a price-to-earnings ratio of 15.39, a P/E/G ratio of 2.57 and a beta of 1.22. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.70.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.03. The business had revenue of $13.16 billion during the quarter, compared to analysts’ expectations of $13.09 billion. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The company’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 EPS. Analysts forecast that Cisco Systems, Inc. will post 2.94 EPS for the current year.
In related news, CAO Prat Bhatt sold 39,343 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $44.88, for a total value of $1,765,713.84. Following the completion of the transaction, the chief accounting officer now directly owns 137,634 shares of the company’s stock, valued at $6,177,013.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Irving Tan sold 22,896 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $1,131,520.32. Following the completion of the transaction, the senior vice president now owns 154,819 shares in the company, valued at $7,651,154.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 511,314 shares of company stock worth $23,530,971. 0.03% of the stock is owned by insiders.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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