Gofen & Glossberg LLC IL raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 255,244 shares of the network equipment provider’s stock after buying an additional 1,467 shares during the period. Gofen & Glossberg LLC IL’s holdings in Cisco Systems were worth $10,983,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in CSCO. Certified Advisory Corp bought a new position in shares of Cisco Systems during the fourth quarter worth approximately $116,000. Trustcore Financial Services LLC increased its stake in shares of Cisco Systems by 143.5% during the first quarter. Trustcore Financial Services LLC now owns 3,294 shares of the network equipment provider’s stock worth $141,000 after purchasing an additional 1,941 shares during the period. Smart Portfolios LLC bought a new position in shares of Cisco Systems during the first quarter worth approximately $146,000. Stelac Advisory Services LLC bought a new position in shares of Cisco Systems during the first quarter worth approximately $149,000. Finally, PDS Planning Inc bought a new position in shares of Cisco Systems during the first quarter worth approximately $161,000. Hedge funds and other institutional investors own 71.65% of the company’s stock.
A number of equities analysts have recently weighed in on the company. Piper Jaffray Companies set a $50.00 target price on Cisco Systems and gave the stock a “buy” rating in a research note on Monday, July 9th. Zacks Investment Research lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Credit Suisse Group increased their target price on Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. BidaskClub lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, BMO Capital Markets increased their target price on Cisco Systems from $43.00 to $48.00 and gave the stock a “market perform” rating in a research note on Thursday, August 16th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently 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 firm’s stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $43.27, for a total value of $1,514,450.00. Following the sale, the executive vice president now owns 490,458 shares of the company’s stock, valued at approximately $21,222,117.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.05% of the company’s stock.
Cisco Systems stock opened at $47.27 on Thursday. Cisco Systems, Inc. has a one year low of $31.46 and a one year high of $48.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.22 and a current ratio of 2.29. The firm has a market cap of $230.13 billion, a price-to-earnings ratio of 20.07, a P/E/G ratio of 2.84 and a beta of 1.06.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The firm had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. equities research analysts expect that Cisco Systems, Inc. will post 2.65 earnings per share for the current fiscal year.
About Cisco Systems
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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