Macquarie Group Ltd. lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,761,704 shares of the network equipment provider’s stock after selling 656,965 shares during the quarter. Cisco Systems makes up 1.5% of Macquarie Group Ltd.’s portfolio, making the stock its 4th biggest holding. Macquarie Group Ltd. owned approximately 0.49% of Cisco Systems worth $836,919,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the stock. Boston Partners boosted its stake in Cisco Systems by 304.2% during the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after buying an additional 23,002,159 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Cisco Systems by 3.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 16,445,753 shares of the network equipment provider’s stock valued at $555,867,000 after buying an additional 506,489 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Cisco Systems by 0.7% during the first quarter. Fisher Asset Management LLC now owns 15,693,906 shares of the network equipment provider’s stock valued at $530,454,000 after buying an additional 108,056 shares during the last quarter. Pioneer Investment Management Inc. boosted its stake in Cisco Systems by 5.2% during the first quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock valued at $279,146,000 after buying an additional 408,875 shares during the last quarter. Finally, Jupiter Asset Management Ltd. boosted its stake in Cisco Systems by 0.8% during the first quarter. Jupiter Asset Management Ltd. now owns 7,420,522 shares of the network equipment provider’s stock valued at $250,814,000 after buying an additional 55,395 shares during the last quarter. Hedge funds and other institutional investors own 74.70% of the company’s stock.
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Cisco Systems, Inc. (NASDAQ CSCO) traded up 0.482% during mid-day trading on Tuesday, hitting $32.345. The stock had a trading volume of 8,216,235 shares. The firm has a 50-day moving average of $31.58 and a 200-day moving average of $32.50. The stock has a market cap of $161.50 billion, a P/E ratio of 17.024 and a beta of 1.19. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $34.60.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. Cisco Systems’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 earnings per share. On average, analysts forecast that Cisco Systems, Inc. will post $2.43 EPS for the current fiscal year.
In related news, insider John T. Chambers sold 250,000 shares of the stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total value of $7,785,000.00. Following the transaction, the insider now owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the transaction, the senior vice president now directly owns 271,725 shares in the company, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
CSCO has been the subject of a number of research reports. Morgan Stanley raised Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $33.45 to $39.00 in a research note on Monday, May 15th. Zacks Investment Research lowered Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. Drexel Hamilton reissued a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a research note on Tuesday, May 16th. Royal Bank Of Canada reissued an “outperform” rating and set a $36.00 price target (down from $37.00) on shares of Cisco Systems in a research note on Thursday, May 18th. Finally, BMO Capital Markets dropped their price target on Cisco Systems from $32.00 to $32.00 and set a “market perform” rating for the company in a research note on Thursday, May 18th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $35.54.
Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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