Investment House LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.9% in the second quarter, HoldingsChannel reports. The firm owned 104,095 shares of the network equipment provider’s stock after buying an additional 7,620 shares during the period. Investment House LLC’s holdings in Cisco Systems were worth $4,479,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Covington Investment Advisors Inc. bought a new stake in shares of Cisco Systems in the 1st quarter worth $5,331,000. Winfield Associates Inc. grew its stake in shares of Cisco Systems by 121.0% in the 1st quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock worth $200,000 after acquiring an additional 2,557 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in shares of Cisco Systems by 47.1% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock worth $5,191,000 after acquiring an additional 38,725 shares in the last quarter. KBC Group NV grew its stake in shares of Cisco Systems by 29.6% in the 1st quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock worth $89,873,000 after acquiring an additional 478,673 shares in the last quarter. Finally, Boston Family Office LLC grew its stake in shares of Cisco Systems by 2.1% in the 1st quarter. Boston Family Office LLC now owns 96,427 shares of the network equipment provider’s stock worth $4,136,000 after acquiring an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 71.65% of the company’s stock.
CSCO has been the subject of several recent analyst reports. JPMorgan Chase & Co. set a $58.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Thursday, May 17th. BidaskClub lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 19th. Argus upped their target price on shares of Cisco Systems to $55.00 and gave the stock a “buy” rating in a research note on Friday, May 18th. Piper Jaffray Companies set a $50.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Monday, July 9th. Finally, Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Tuesday, July 17th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $47.76.
In other Cisco Systems news, EVP David Goeckeler sold 35,000 shares of the company’s stock in a transaction dated Friday, June 22nd. The shares were sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the sale, the executive vice president now directly owns 490,458 shares of the company’s stock, valued at $21,222,117.66. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.05% of the stock is owned by corporate insiders.
CSCO opened at $47.73 on Wednesday. The stock has a market cap of $230.13 billion, a P/E ratio of 20.07, a P/E/G ratio of 2.84 and a beta of 1.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22. Cisco Systems, Inc. has a fifty-two week low of $31.45 and a fifty-two week high of $48.06.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.01. The business had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.76 billion. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The company’s revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. analysts predict that Cisco Systems, Inc. will post 2.65 earnings per share for the current year.
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.
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