Game Creek Capital LP cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 161,250 shares of the network equipment provider’s stock after selling 21,250 shares during the quarter. Cisco Systems comprises 3.0% of Game Creek Capital LP’s portfolio, making the stock its 8th largest position. Game Creek Capital LP’s holdings in Cisco Systems were worth $6,939,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in CSCO. Flagship Harbor Advisors LLC boosted its position in shares of Cisco Systems by 4.7% during the second quarter. Flagship Harbor Advisors LLC now owns 27,206 shares of the network equipment provider’s stock worth $1,170,000 after purchasing an additional 1,215 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in shares of Cisco Systems during the second quarter worth $974,000. Peregrine Asset Advisers Inc. boosted its position in shares of Cisco Systems by 45.7% during the second quarter. Peregrine Asset Advisers Inc. now owns 9,730 shares of the network equipment provider’s stock worth $418,000 after purchasing an additional 3,050 shares in the last quarter. Kalos Management Inc. bought a new position in shares of Cisco Systems during the second quarter worth $360,000. Finally, Morgan Stanley boosted its position in shares of Cisco Systems by 15.9% during the second quarter. Morgan Stanley now owns 50,957,358 shares of the network equipment provider’s stock worth $2,192,694,000 after purchasing an additional 7,009,359 shares in the last quarter. 69.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:CSCO opened at $47.87 on Monday. Cisco Systems, Inc. has a 12 month low of $36.73 and a 12 month high of $49.47. The company has a current ratio of 2.11, a quick ratio of 2.05 and a debt-to-equity ratio of 0.42. The firm has a market cap of $230.61 billion, a P/E ratio of 19.07, a P/E/G ratio of 2.80 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $12.86 billion. During the same period last year, the business posted $0.61 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Research analysts predict that Cisco Systems, Inc. will post 2.7 earnings per share for the current fiscal year.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $47.44, for a total value of $3,320,800.00. Following the sale, the chief financial officer now directly owns 492,301 shares in the company, valued at approximately $23,354,759.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mark D. Chandler sold 4,373 shares of Cisco Systems stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $44.89, for a total transaction of $196,303.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 558,943 shares of company stock worth $26,362,383. 0.03% of the stock is currently owned by company insiders.
A number of brokerages have recently weighed in on CSCO. Piper Jaffray Companies set a $50.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Raymond James lifted their price target on shares of Cisco Systems from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 15th. BidaskClub raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. Loop Capital raised shares of Cisco Systems from a “hold” rating to a “positive” rating and set a $45.00 price target on the stock in a research report on Thursday, November 15th. They noted that the move was a valuation call. Finally, Goldman Sachs Group reissued a “buy” rating and set a $56.00 price target on shares of Cisco Systems in a research report on Thursday, August 16th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $50.26.
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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 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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