CSat Investment Advisory L.P. bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 36,120 shares of the network equipment provider’s stock, valued at approximately $1,554,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allstate Corp bought a new position in Cisco Systems in the 2nd quarter valued at $241,000. Van ECK Associates Corp bought a new position in Cisco Systems in the 2nd quarter valued at $3,946,000. Aureus Asset Management LLC grew its position in Cisco Systems by 45.0% in the 2nd quarter. Aureus Asset Management LLC now owns 51,214 shares of the network equipment provider’s stock valued at $2,204,000 after acquiring an additional 15,902 shares during the last quarter. Sustainable Insight Capital Management LLC grew its position in Cisco Systems by 306.8% in the 2nd quarter. Sustainable Insight Capital Management LLC now owns 29,700 shares of the network equipment provider’s stock valued at $1,278,000 after acquiring an additional 22,400 shares during the last quarter. Finally, Baird Financial Group Inc. grew its position in Cisco Systems by 2.4% in the 2nd quarter. Baird Financial Group Inc. now owns 3,239,825 shares of the network equipment provider’s stock valued at $139,410,000 after acquiring an additional 76,055 shares during the last quarter. 70.28% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ CSCO opened at $47.34 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 2.05. The firm has a market cap 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 1-year low of $36.73 and a 1-year high of $49.47.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. The firm had revenue of $13.07 billion during the quarter, compared to analysts’ expectations of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.7 EPS for the current fiscal year.
CSCO has been the topic of several research analyst reports. Piper Jaffray Companies set a $50.00 price objective on Cisco Systems and gave the company a “buy” rating in a research report on Tuesday, September 11th. JPMorgan Chase & Co. set a $59.00 price objective on Cisco Systems and gave the company a “buy” rating in a research report on Thursday, August 16th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Cisco Systems in a research report on Thursday, August 16th. BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Finally, UBS Group set a $56.00 price target on Cisco Systems and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Seven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $50.26.
In related news, EVP Mark D. Chandler sold 4,373 shares of the company’s stock in a transaction on Friday, November 23rd. The stock was sold at an average price of $44.89, for a total transaction of $196,303.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Charles Robbins sold 217,420 shares of the company’s stock in a transaction on Monday, September 17th. The stock was sold at an average price of $47.28, for a total value of $10,279,617.60. The disclosure for this sale can be found here. Insiders have sold a total of 488,943 shares of company stock valued at $23,041,583 over the last 90 days. 0.03% of the stock is currently owned by company insiders.
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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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