Augustine Asset Management Inc. grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,791 shares of the network equipment provider’s stock after purchasing an additional 2,849 shares during the period. Augustine Asset Management Inc.’s holdings in Cisco Systems were worth $894,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Cisco Systems by 47.1% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock valued at $5,191,000 after purchasing an additional 38,725 shares during the period. Covington Investment Advisors Inc. acquired a new position in shares of Cisco Systems in the first quarter valued at about $5,331,000. Winfield Associates Inc. increased its holdings in shares of Cisco Systems by 121.0% in the first quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock valued at $200,000 after purchasing an additional 2,557 shares during the period. KBC Group NV increased its holdings in shares of Cisco Systems by 29.6% in the first quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock valued at $89,873,000 after purchasing an additional 478,673 shares during the period. Finally, Boston Family Office LLC increased its holdings in shares of Cisco Systems by 2.1% in the first quarter. Boston Family Office LLC now owns 96,427 shares of the network equipment provider’s stock valued at $4,136,000 after purchasing an additional 2,000 shares during the period. 71.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of CSCO opened at $47.05 on Friday. The company has a current ratio of 2.29, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47. Cisco Systems, Inc. has a 12 month low of $31.46 and a 12 month high of $48.06. The company has a market capitalization of $227.72 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 2.81 and a beta of 1.06.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The company had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. During the same period last year, the company earned $0.61 earnings per share. Cisco Systems’s quarterly revenue was up 5.9% compared to the same quarter last year. research analysts anticipate that Cisco Systems, Inc. will post 2.65 earnings per share for the current year.
In other Cisco Systems news, EVP David Goeckeler sold 35,000 shares of the firm’s stock in a transaction that occurred 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 directly owns 490,458 shares of the company’s stock, valued at $21,222,117.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.05% of the stock is currently owned by company insiders.
Several research firms recently commented on CSCO. BidaskClub lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, June 26th. Morgan Stanley raised their target price on Cisco Systems from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday. Loop Capital reaffirmed a “hold” rating and set a $47.00 target price on shares of Cisco Systems in a report on Monday, August 20th. They noted that the move was a valuation call. William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a report on Thursday, August 16th. Finally, Zacks Investment Research lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $47.76.
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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