Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Lifted by NorthCoast Asset Management LLC

NorthCoast Asset Management LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 84,454 shares of the network equipment provider’s stock after purchasing an additional 10,367 shares during the quarter. NorthCoast Asset Management LLC’s holdings in Cisco Systems were worth $4,479,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. Franklin Resources Inc. lifted its holdings in Cisco Systems by 161.1% in the first quarter. Franklin Resources Inc. now owns 21,162,770 shares of the network equipment provider’s stock worth $1,094,329,000 after purchasing an additional 13,057,642 shares during the period. Nuveen Asset Management LLC boosted its stake in Cisco Systems by 35.7% during the 1st quarter. Nuveen Asset Management LLC now owns 44,857,692 shares of the network equipment provider’s stock valued at $2,319,591,000 after purchasing an additional 11,791,493 shares in the last quarter. BlackRock Inc. increased its position in shares of Cisco Systems by 2.2% during the 1st quarter. BlackRock Inc. now owns 334,979,843 shares of the network equipment provider’s stock valued at $17,321,808,000 after purchasing an additional 7,282,145 shares during the period. Amundi Asset Management US Inc. raised its stake in shares of Cisco Systems by 58.1% in the 1st quarter. Amundi Asset Management US Inc. now owns 13,637,100 shares of the network equipment provider’s stock worth $705,174,000 after buying an additional 5,013,028 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Cisco Systems by 9.9% in the first quarter. Morgan Stanley now owns 42,815,350 shares of the network equipment provider’s stock valued at $2,213,982,000 after buying an additional 3,867,546 shares during the period. 71.92% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on CSCO shares. Raymond James upped their price target on shares of Cisco Systems from $57.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, September 16th. DZ Bank reaffirmed a “hold” rating and issued a $51.00 price target on shares of Cisco Systems in a report on Thursday, May 27th. Piper Sandler lifted their target price on Cisco Systems from $53.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, September 16th. Robert W. Baird upped their target price on Cisco Systems from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, September 16th. Finally, The Goldman Sachs Group set a $64.00 price target on Cisco Systems in a research note on Thursday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $58.90.

In related news, EVP Geraldine Elliott sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 25th. The shares were sold at an average price of $59.40, for a total value of $2,970,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Prat Bhatt sold 468 shares of the stock in a transaction on Monday, September 13th. The shares were sold at an average price of $58.35, for a total value of $27,307.80. The disclosure for this sale can be found here. In the last three months, insiders sold 64,529 shares of company stock worth $3,827,391. 0.02% of the stock is currently owned by insiders.

CSCO opened at $55.89 on Tuesday. The company has a market capitalization of $235.73 billion, a PE ratio of 22.36, a price-to-earnings-growth ratio of 3.01 and a beta of 0.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.49 and a quick ratio of 1.43. Cisco Systems, Inc. has a fifty-two week low of $35.28 and a fifty-two week high of $60.27. The business has a 50-day moving average of $56.62 and a 200-day moving average of $53.66.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Tuesday, August 17th. The network equipment provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.01. Cisco Systems had a return on equity of 30.82% and a net margin of 21.26%. The business had revenue of $13.13 billion for the quarter, compared to analyst estimates of $13.04 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. The firm’s revenue for the quarter was up 8.0% on a year-over-year basis. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.08 earnings per share for the current fiscal year.

Cisco Systems Company Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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

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