Flossbach Von Storch AG raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 128.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,540,666 shares of the network equipment provider’s stock after purchasing an additional 3,681,180 shares during the period. Cisco Systems accounts for 1.7% of Flossbach Von Storch AG’s investment portfolio, making the stock its 17th biggest position. Flossbach Von Storch AG’s holdings in Cisco Systems were worth $257,114,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. Financial Advocates Investment Management boosted its holdings in Cisco Systems by 0.5% in the 4th quarter. Financial Advocates Investment Management now owns 40,313 shares of the network equipment provider’s stock valued at $1,933,000 after purchasing an additional 204 shares during the period. Alexandria Capital LLC boosted its holdings in Cisco Systems by 0.4% in the 4th quarter. Alexandria Capital LLC now owns 51,487 shares of the network equipment provider’s stock valued at $2,469,000 after purchasing an additional 210 shares during the period. Noesis Capital Mangement Corp boosted its holdings in Cisco Systems by 2.5% in the 4th quarter. Noesis Capital Mangement Corp now owns 9,140 shares of the network equipment provider’s stock valued at $438,000 after purchasing an additional 227 shares during the period. SNS Financial Group LLC boosted its holdings in Cisco Systems by 1.2% in the 4th quarter. SNS Financial Group LLC now owns 18,835 shares of the network equipment provider’s stock valued at $903,000 after purchasing an additional 230 shares during the period. Finally, Jackson Grant Investment Advisers Inc. boosted its holdings in Cisco Systems by 4.6% in the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 5,299 shares of the network equipment provider’s stock valued at $254,000 after purchasing an additional 233 shares during the period. 70.94% of the stock is owned by hedge funds and other institutional investors.
CSCO has been the topic of several research reports. BidaskClub upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet cut shares of Cisco Systems from a “b” rating to a “c+” rating in a research report on Thursday, March 12th. Oppenheimer lowered their price objective on shares of Cisco Systems from $55.00 to $46.00 in a research report on Thursday, March 12th. Nomura Instinet raised their price objective on shares of Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Finally, William Blair restated a “market perform” rating on shares of Cisco Systems in a research report on Thursday, February 13th. Sixteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $50.13.
Shares of CSCO stock traded up $0.26 during mid-day trading on Friday, reaching $44.90. The stock had a trading volume of 12,395,086 shares, compared to its average volume of 23,230,478. The stock’s 50-day moving average price is $42.08 and its two-hundred day moving average price is $44.21. Cisco Systems, Inc. has a 52-week low of $32.40 and a 52-week high of $58.26. The firm has a market capitalization of $188.48 billion, a PE ratio of 17.82, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.10. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. The firm had revenue of $11.98 billion for the quarter, compared to analysts’ expectations of $11.87 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.
In other news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $41.17, for a total transaction of $2,881,900.00. Following the sale, the chief financial officer now owns 308,241 shares of the company’s stock, valued at approximately $12,690,281.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.03% of the stock is currently owned by insiders.
Cisco Systems 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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