Verity Asset Management Inc. Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

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Verity Asset Management Inc. grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,639 shares of the network equipment provider’s stock after buying an additional 474 shares during the period. Cisco Systems comprises 1.2% of Verity Asset Management Inc.’s portfolio, making the stock its 19th largest position. Verity Asset Management Inc.’s holdings in Cisco Systems were worth $1,458,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Evolution Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the 2nd quarter worth approximately $33,000. Lowe Wealth Advisors LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at approximately $38,000. Personal Wealth Partners acquired a new stake in Cisco Systems in the 2nd quarter valued at approximately $44,000. Ashburton Jersey Ltd acquired a new stake in Cisco Systems in the 2nd quarter valued at approximately $49,000. Finally, Lucia Wealth Services LLC increased its position in 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. 73.73% of the stock is currently owned by institutional investors.

Shares of CSCO stock traded down $0.46 during mid-day trading on Friday, hitting $46.81. 18,116,911 shares of the stock traded hands, compared to its average volume of 23,698,632. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $58.26. The firm has a market cap of $202.35 billion, a price-to-earnings ratio of 16.42, a price-to-earnings-growth ratio of 2.20 and a beta of 1.18. The company’s 50-day simple moving average is $52.77 and its 200-day simple moving average is $53.75. 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 issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. During the same period last year, the firm earned $0.70 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.06 earnings per share for the current year.

CSCO has been the topic of several analyst reports. Piper Jaffray Companies raised their target price on Cisco Systems from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Tuesday, May 21st. Barclays initiated coverage on Cisco Systems in a research report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 target price on the stock. Raymond James restated an “overweight” rating on shares of Cisco Systems in a research report on Friday, August 16th. Finally, William Blair cut Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 target price on the stock. in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company. Cisco Systems presently has an average rating of “Buy” and an average target price of $56.59.

In other news, Director Wesley G. Bush purchased 10,000 shares of the stock in a transaction dated Friday, June 7th. The shares were bought at an average cost of $55.74 per share, for a total transaction of $557,400.00. Following the transaction, the director now owns 3,017 shares in the company, valued at $168,167.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark D. Chandler sold 1,379 shares of Cisco Systems stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $55.94, for a total value of $77,141.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,925 shares of company stock worth $1,227,506. 0.03% of the stock is owned by insiders.

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

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