Cisco Systems, Inc. (CSCO) Shares Bought by 6 Meridian

6 Meridian increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 155,041 shares of the network equipment provider’s stock after buying an additional 2,268 shares during the period. 6 Meridian’s holdings in Cisco Systems were worth $6,671,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Boston Partners boosted its holdings in shares of Cisco Systems by 1.5% during the second quarter. Boston Partners now owns 34,447,604 shares of the network equipment provider’s stock valued at $1,482,280,000 after acquiring an additional 499,099 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Cisco Systems by 3.8% during the second quarter. Fisher Asset Management LLC now owns 17,969,867 shares of the network equipment provider’s stock valued at $773,243,000 after acquiring an additional 662,706 shares during the period. Swiss National Bank boosted its holdings in shares of Cisco Systems by 0.4% during the second quarter. Swiss National Bank now owns 16,274,993 shares of the network equipment provider’s stock valued at $700,313,000 after acquiring an additional 69,400 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Cisco Systems by 4.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,279,774 shares of the network equipment provider’s stock valued at $657,489,000 after acquiring an additional 683,733 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Cisco Systems by 3.8% during the second quarter. PNC Financial Services Group Inc. now owns 13,904,755 shares of the network equipment provider’s stock valued at $598,322,000 after acquiring an additional 511,913 shares during the period. Institutional investors and hedge funds own 70.28% of the company’s stock.

CSCO stock opened at $47.34 on Friday. The stock has a market capitalization of $222.18 billion, a P/E ratio of 20.23, a P/E/G ratio of 2.70 and a beta of 1.11. Cisco Systems, Inc. has a fifty-two week low of $36.73 and a fifty-two week high of $49.47. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 2.05.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.03. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The business had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.86 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, analysts anticipate that Cisco Systems, Inc. will post 2.7 EPS for the current fiscal year.

In other Cisco Systems news, Chairman Charles Robbins sold 217,420 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $47.28, for a total value of $10,279,617.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Prat Bhatt sold 33,950 shares of the business’s stock in a transaction dated Friday, November 23rd. The stock was sold at an average price of $44.86, for a total transaction of $1,522,997.00. Following the completion of the sale, the senior vice president now owns 90,207 shares in the company, valued at $4,046,686.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 488,943 shares of company stock worth $23,041,583. 0.03% of the stock is owned by company insiders.

Several equities analysts have recently issued reports on CSCO shares. Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. UBS Group set a $56.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Wednesday, September 26th. BidaskClub raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Cowen boosted their price target on shares of Cisco Systems from $51.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, August 16th. Finally, JPMorgan Chase & Co. set a $59.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Thursday, August 16th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $50.26.

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

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