Resources Management Corp CT ADV purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the third quarter, according to its most recent filing with the SEC. The firm purchased 100,789 shares of the network equipment provider’s stock, valued at approximately $4,980,000.
Several other large investors have also recently made changes to their positions in CSCO. Nuveen Asset Management LLC lifted its holdings in shares of Cisco Systems by 1,546.1% in the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock valued at $2,642,650,000 after purchasing an additional 45,351,980 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Cisco Systems by 2.8% in the third quarter. Fisher Asset Management LLC now owns 30,517,061 shares of the network equipment provider’s stock valued at $1,507,848,000 after purchasing an additional 839,300 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Cisco Systems by 13.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 21,589,214 shares of the network equipment provider’s stock valued at $1,066,724,000 after purchasing an additional 2,496,113 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Cisco Systems by 2.6% in the second quarter. UBS Asset Management Americas Inc. now owns 18,929,924 shares of the network equipment provider’s stock valued at $1,036,035,000 after purchasing an additional 478,368 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Cisco Systems by 155.6% during the 3rd quarter. First Trust Advisors LP now owns 17,446,107 shares of the network equipment provider’s stock worth $862,012,000 after purchasing an additional 10,621,798 shares in the last quarter. 72.62% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the transaction, the chief financial officer now directly owns 352,587 shares in the company, valued at approximately $15,933,406.53. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 18,955 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.04, for a total transaction of $948,508.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 511,314 shares of company stock worth $23,530,971. 0.03% of the stock is owned by corporate insiders.
Several brokerages recently issued reports on CSCO. Barclays cut their price objective on Cisco Systems from $51.00 to $47.00 and set an “equal weight” rating for the company in a research report on Thursday, November 14th. Goldman Sachs Group set a $48.00 target price on Cisco Systems and gave the company a “neutral” rating in a report on Thursday, November 14th. William Blair reissued a “market perform” rating on shares of Cisco Systems in a research report on Thursday, November 14th. ValuEngine raised Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Royal Bank of Canada set a $56.00 price target on Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $54.53.
Shares of Cisco Systems stock traded down $0.39 during trading hours on Wednesday, reaching $43.89. 17,198,324 shares of the company’s stock were exchanged, compared to its average volume of 20,600,621. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $58.26. The company has a fifty day moving average of $46.44 and a 200-day moving average of $50.99. The company has a current ratio of 1.70, a quick ratio of 1.64 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $192.22 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 2.57 and a beta of 1.22.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. The business had revenue of $13.16 billion during the quarter, compared to the consensus estimate of $13.09 billion. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 2.94 earnings per share for the current fiscal year.
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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