Day & Ennis LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,556 shares of the network equipment provider’s stock after buying an additional 647 shares during the quarter. Day & Ennis LLC’s holdings in Cisco Systems were worth $255,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Holderness Investments Co. lifted its holdings in shares of Cisco Systems by 12.1% in the first quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock valued at $2,256,000 after buying an additional 7,186 shares during the period. Pioneer Investment Management Inc. lifted its holdings in shares of Cisco Systems by 5.2% in the first quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock valued at $279,146,000 after buying an additional 408,875 shares during the period. First Hawaiian Bank acquired a new stake in shares of Cisco Systems in the first quarter valued at $215,000. Syntal Capital Partners LLC acquired a new stake in shares of Cisco Systems in the first quarter valued at $257,000. Finally, City Holding Co. lifted its holdings in shares of Cisco Systems by 0.4% in the first quarter. City Holding Co. now owns 87,638 shares of the network equipment provider’s stock valued at $2,961,000 after buying an additional 365 shares during the period. Institutional investors and hedge funds own 74.70% of the company’s stock.
Cisco Systems, Inc. (NASDAQ CSCO) traded down 0.88% during midday trading on Friday, reaching $31.48. The company had a trading volume of 15,339,455 shares. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60. The firm has a 50-day moving average of $31.59 and a 200-day moving average of $32.53. The stock has a market cap of $157.18 billion, a P/E ratio of 16.57 and a beta of 1.19.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. During the same period in the previous year, the business earned $0.63 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. On average, equities analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current fiscal year.
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In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares in the company, valued at $22,710,557.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the transaction, the senior vice president now owns 178,577 shares of the company’s stock, valued at $5,587,674.33. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 350,642 shares of company stock valued at $10,973,081. Company insiders own 0.11% of the company’s stock.
A number of equities research analysts have recently issued reports on the company. Citigroup Inc. set a $36.00 target price on Cisco Systems and gave the stock a “buy” rating in a research report on Friday, May 19th. Berenberg Bank set a $33.00 target price on Cisco Systems and gave the stock a “hold” rating in a research report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 target price on Cisco Systems and gave the stock a “buy” rating in a research report on Saturday, July 1st. Stifel Nicolaus set a $34.00 target price on Cisco Systems and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $35.54.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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