Progressive Investment Management Corp Grows Stake in Cisco Systems, Inc. (CSCO)

Progressive Investment Management Corp grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 104,561 shares of the network equipment provider’s stock after acquiring an additional 1,105 shares during the quarter. Cisco Systems comprises 2.5% of Progressive Investment Management Corp’s holdings, making the stock its 17th largest position. Progressive Investment Management Corp’s holdings in Cisco Systems were worth $3,273,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Eads & Heald Investment Counsel lifted its position in Cisco Systems by 15.7% during the second quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock worth $1,329,000 after buying an additional 5,765 shares in the last quarter. Stratos Wealth Partners LTD. lifted its position in Cisco Systems by 10.4% during the second quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after buying an additional 14,395 shares in the last quarter. Washington Trust Bank lifted its position in Cisco Systems by 2.5% during the second quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock worth $3,542,000 after buying an additional 2,726 shares in the last quarter. Holderness Investments Co. lifted its position in Cisco Systems by 12.1% during the first quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock worth $2,256,000 after buying an additional 7,186 shares in the last quarter. Finally, Pioneer Investment Management Inc. lifted its position in Cisco Systems by 5.2% during the first quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock worth $279,146,000 after buying an additional 408,875 shares in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.

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 stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the transaction, the insider now owns 729,305 shares in the company, valued at approximately $22,710,557.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Mark D. Chandler sold 65,000 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 485,138 shares of company stock worth $15,347,574 in the last quarter. 0.05% of the stock is currently owned by insiders.

Cisco Systems, Inc. (NASDAQ CSCO) opened at $35.90 on Monday. The stock has a market capitalization of $177,768.97, a PE ratio of 16.54, a P/E/G ratio of 3.17 and a beta of 1.15. Cisco Systems, Inc. has a 52-week low of $29.12 and a 52-week high of $36.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The company had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. equities analysts expect that Cisco Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s payout ratio is 60.10%.

A number of equities analysts recently commented on CSCO shares. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective on the stock in a research report on Wednesday, September 6th. ValuEngine downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research report on Tuesday, October 31st. Deutsche Bank AG reiterated a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research report on Wednesday, September 6th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of Cisco Systems in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $36.73.

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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).

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

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