Signet Financial Management LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 42,755 shares of the network equipment provider’s stock after selling 242 shares during the period. Signet Financial Management LLC’s holdings in Cisco Systems were worth $2,417,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Enlightenment Research LLC purchased a new stake in shares of Cisco Systems in the second quarter worth $5,600,000. Great Valley Advisor Group Inc. raised its holdings in shares of Cisco Systems by 87.1% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 53,601 shares of the network equipment provider’s stock valued at $2,935,000 after acquiring an additional 24,948 shares in the last quarter. Stevens Capital Management LP raised its holdings in shares of Cisco Systems by 39.1% in the 2nd quarter. Stevens Capital Management LP now owns 555,338 shares of the network equipment provider’s stock valued at $30,394,000 after acquiring an additional 156,143 shares in the last quarter. Atlas Brown Inc. boosted its position in shares of Cisco Systems by 6.8% during the 2nd quarter. Atlas Brown Inc. now owns 16,157 shares of the network equipment provider’s stock valued at $884,000 after acquiring an additional 1,025 shares during the last quarter. Finally, Geneva Partners LLC boosted its position in shares of Cisco Systems by 26.3% during the 2nd quarter. Geneva Partners LLC now owns 21,039 shares of the network equipment provider’s stock valued at $1,151,000 after acquiring an additional 4,386 shares during the last quarter. Institutional investors and hedge funds own 72.89% of the company’s stock.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly 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 can be accessed through the SEC website. Also, EVP Mark D. Chandler sold 546 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.
CSCO stock traded up $0.76 during trading on Wednesday, hitting $49.97. 1,128,788 shares of the company traded hands, compared to its average volume of 20,889,732. The firm has a market capitalization of $206.24 billion, a PE ratio of 17.54, a P/E/G 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 company has a 50-day moving average of $50.60 and a 200-day moving average of $53.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. During the same period in the previous year, the firm earned $0.70 EPS. The business’s quarterly revenue was up 4.5% on a year-over-year basis. Sell-side analysts expect that Cisco Systems, Inc. will post 3.06 EPS for the current year.
CSCO has been the topic of several research analyst reports. Citigroup decreased their price objective on shares of Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Tuesday, May 21st. Robert W. Baird reissued a “buy” rating and issued a $57.00 price target on shares of Cisco Systems in a report on Monday, August 12th. Credit Suisse Group set a $50.00 price target on shares of Cisco Systems and gave the stock a “neutral” rating in a report on Tuesday, August 27th. Finally, Evercore ISI started coverage on shares of Cisco Systems in a research report on Wednesday. They set an “outperform” rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $56.72.
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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