Scotia Capital Inc. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 929,790 shares of the network equipment provider’s stock after purchasing an additional 117,224 shares during the period. Scotia Capital Inc.’s holdings in Cisco Systems were worth $50,891,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in CSCO. Evolution Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the second quarter worth approximately $33,000. Lowe Wealth Advisors LLC acquired a new stake in shares of Cisco Systems in the second quarter worth $38,000. Personal Wealth Partners acquired a new stake in shares of Cisco Systems in the second quarter worth $44,000. Ashburton Jersey Ltd purchased a new position in shares of Cisco Systems in the 2nd quarter valued at $49,000. Finally, Lucia Wealth Services LLC raised its stake in shares of Cisco Systems by 72.3% in the 2nd quarter. Lucia Wealth Services LLC now owns 1,144 shares of the network equipment provider’s stock valued at $63,000 after acquiring an additional 480 shares during the period. Hedge funds and other institutional investors own 72.89% of the company’s stock.
NASDAQ:CSCO traded up $0.76 during mid-day trading on Wednesday, reaching $49.97. The stock had a trading volume of 1,128,788 shares, compared to its average volume of 20,889,732. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. The company has a market capitalization of $206.24 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 2.26 and a beta of 1.26. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $58.26. The stock’s 50 day simple moving average is $50.60 and its two-hundred day simple moving average is $53.70.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company had revenue of $13.43 billion for the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter last year, the business posted $0.70 EPS. Cisco Systems’s quarterly revenue was up 4.5% compared to the same quarter last year. Sell-side analysts anticipate that Cisco Systems, Inc. will post 3.06 EPS for the current fiscal year.
A number of analysts recently weighed in on the stock. Morgan Stanley decreased their price target on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. ValuEngine cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Piper Jaffray Companies upped their target price on Cisco Systems from $52.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Evercore ISI started coverage on Cisco Systems in a research note on Wednesday. They issued an “outperform” rating and a $60.00 target price for the company. Finally, Bank of America reiterated a “buy” rating and set a $62.00 target price on shares of Cisco Systems in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the company. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $56.72.
In related news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total transaction of $3,270,400.00. Following the completion of the sale, the chief financial officer now owns 277,548 shares of the company’s stock, valued at approximately $12,967,042.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mark D. Chandler sold 546 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.
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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