Pettyjohn Wood & White Inc. Decreases Holdings in Cisco Systems, Inc. (CSCO)

Pettyjohn Wood & White Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 85,549 shares of the network equipment provider’s stock after selling 4,675 shares during the period. Pettyjohn Wood & White Inc.’s holdings in Cisco Systems were worth $3,277,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in CSCO. Stonehearth Capital Management LLC acquired a new position in shares of Cisco Systems during the fourth quarter valued at $102,000. Keeler Thomas Management LLC acquired a new position in shares of Cisco Systems during the fourth quarter valued at $108,000. Goodman Financial Corp acquired a new position in shares of Cisco Systems during the fourth quarter valued at $115,000. Tarbox Family Office Inc. boosted its holdings in shares of Cisco Systems by 67.9% during the fourth quarter. Tarbox Family Office Inc. now owns 3,328 shares of the network equipment provider’s stock valued at $127,000 after acquiring an additional 1,346 shares during the period. Finally, Delphi Private Advisors LLC boosted its holdings in shares of Cisco Systems by 307.8% during the fourth quarter. Delphi Private Advisors LLC now owns 3,552 shares of the network equipment provider’s stock valued at $136,000 after acquiring an additional 2,681 shares during the period. 73.89% of the stock is owned by hedge funds and other institutional investors.

Shares of Cisco Systems opened at $43.21 on Monday, Marketbeat Ratings reports. The company has a current ratio of 2.34, a quick ratio of 2.28 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 52 week low of $30.36 and a 52 week high of $46.37. The stock has a market capitalization of $208.16 billion, a price-to-earnings ratio of 18.95, a price-to-earnings-growth ratio of 3.08 and a beta of 1.14.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 19.48%. The firm had revenue of $12.46 billion for the quarter, compared to analysts’ expectations of $12.42 billion. During the same period in the previous year, the business earned $0.60 earnings per share. analysts predict that Cisco Systems, Inc. will post 2.34 earnings per share for the current year.

Cisco Systems announced that its board has initiated a stock buyback program on Wednesday, February 14th that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s management believes its shares are undervalued.

Several equities analysts have recently issued reports on the stock. Credit Suisse Group set a $41.00 price target on shares of Cisco Systems and gave the company a “hold” rating in a report on Thursday. Argus boosted their price target on shares of Cisco Systems to $55.00 and gave the company a “buy” rating in a report on Friday. BidaskClub downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday. JPMorgan Chase set a $58.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Thursday. Finally, Royal Bank of Canada reissued a “buy” rating and set a $44.00 price target on shares of Cisco Systems in a report on Monday, February 12th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $45.78.

In other Cisco Systems news, Director M Michele Burns sold 12,126 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $45.37, for a total value of $550,156.62. Following the sale, the director now directly owns 74,479 shares in the company, valued at $3,379,112.23. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arun Sarin sold 14,189 shares of the business’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $44.10, for a total transaction of $625,734.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,986 shares of company stock worth $2,116,422. 0.05% of the stock is owned by company insiders.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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

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