Cigna Investments Inc. New lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 159,948 shares of the network equipment provider’s stock after acquiring an additional 354 shares during the quarter. Cisco Systems accounts for about 0.8% of Cigna Investments Inc. New’s holdings, making the stock its 19th biggest position. Cigna Investments Inc. New’s holdings in Cisco Systems were worth $6,288,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Permanens Capital L.P. purchased a new stake in shares of Cisco Systems during the 4th quarter worth approximately $31,000. Lion Street Advisors LLC acquired a new position in shares of Cisco Systems during the 1st quarter worth approximately $31,000. Emerald Advisers LLC acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $38,000. Sageworth Trust Co raised its position in shares of Cisco Systems by 59.5% during the 4th quarter. Sageworth Trust Co now owns 804 shares of the network equipment provider’s stock worth $39,000 after purchasing an additional 300 shares during the last quarter. Finally, Bourgeon Capital Management LLC acquired a new position in shares of Cisco Systems during the 1st quarter worth approximately $32,000. 70.94% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems stock traded up $0.26 during trading on Friday, reaching $44.90. 12,395,086 shares of the company’s stock were exchanged, compared to its average volume of 23,230,478. The company’s 50-day moving average is $42.08 and its two-hundred day moving average is $44.21. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.59. Cisco Systems, Inc. has a 52-week low of $32.40 and a 52-week high of $58.26. The firm has a market cap of $188.48 billion, a price-to-earnings ratio of 17.82, a PEG ratio of 2.89 and a beta of 0.97.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. The company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.87 billion. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. During the same period in the prior year, the company posted $0.78 EPS. Analysts anticipate that Cisco Systems, Inc. will post 2.86 EPS for the current year.
CSCO has been the subject of several research reports. Barclays lifted their price objective on Cisco Systems from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. KeyCorp downgraded Cisco Systems from an “overweight” rating to a “sector weight” rating in a research report on Friday, April 17th. Standpoint Research upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, February 27th. Oppenheimer cut their price target on Cisco Systems from $55.00 to $46.00 in a report on Thursday, March 12th. Finally, MKM Partners boosted their price target on Cisco Systems from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Sixteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Cisco Systems has a consensus rating of “Hold” and an average price target of $50.13.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $41.17, for a total value of $2,881,900.00. Following the completion of the transaction, the chief financial officer now directly owns 308,241 shares of the company’s stock, valued at approximately $12,690,281.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.03% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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