Cisco Systems (CSCO) Stake Lessened by Liberty Mutual Group Asset Management Inc.

Liberty Mutual Group Asset Management Inc. lowered its position in Cisco Systems (NASDAQ:CSCO) by 3.9% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 199,283 shares of the network equipment provider’s stock after selling 7,991 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Cisco Systems were worth $7,633,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its position in shares of Cisco Systems by 12.8% during the 4th quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock valued at $4,709,302,000 after acquiring an additional 13,927,416 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Cisco Systems by 23.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after acquiring an additional 11,972,070 shares during the period. Stifel Financial Corp lifted its position in shares of Cisco Systems by 6,109.5% during the 3rd quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock valued at $273,977,000 after acquiring an additional 8,016,561 shares during the period. Boston Partners lifted its position in shares of Cisco Systems by 11.2% during the 4th quarter. Boston Partners now owns 33,799,233 shares of the network equipment provider’s stock valued at $1,294,510,000 after acquiring an additional 3,397,848 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Cisco Systems by 6.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock valued at $1,639,089,000 after acquiring an additional 2,987,682 shares during the period. Hedge funds and other institutional investors own 77.40% of the company’s stock.

A number of research analysts recently issued reports on CSCO shares. Instinet boosted their target price on shares of Cisco Systems from $39.53 to $46.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Nomura upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Monday, February 12th. Royal Bank of Canada reiterated a “buy” rating and set a $44.00 target price on shares of Cisco Systems in a research report on Monday, February 12th. Goldman Sachs started coverage on shares of Cisco Systems in a research report on Wednesday, February 7th. They set a “buy” rating and a $48.00 target price on the stock. Finally, ValuEngine upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $45.23.

Cisco Systems opened at $43.46 on Friday, according to MarketBeat Ratings. Cisco Systems has a 1 year low of $45.14 and a 1 year high of $45.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38. The firm has a market capitalization of $217.56 billion, a PE ratio of 19.81, a PEG ratio of 3.23 and a beta of 1.14.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $12.46 billion during the quarter, compared to analyst estimates of $12.42 billion. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 18.32%. During the same quarter in the prior year, the business earned $0.60 earnings per share. analysts forecast that Cisco Systems will post 2.33 earnings per share for the current fiscal year.

Cisco Systems declared that its board has authorized a stock buyback plan on Wednesday, February 14th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the network equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

In related news, Director M Michele Burns sold 12,126 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $45.37, for a total transaction of $550,156.62. Following the completion of the transaction, the director now owns 74,479 shares in the company, valued at $3,379,112.23. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP David Goeckeler sold 20,671 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $45.50, for a total transaction of $940,530.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,986 shares of company stock valued at $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.

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

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