Alaethes Wealth LLC Invests $241,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Alaethes Wealth LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,654 shares of the network equipment provider’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Cisco Systems by 2.0% in the fourth quarter. BlackRock Inc. now owns 327,697,698 shares of the network equipment provider’s stock worth $14,664,472,000 after buying an additional 6,274,151 shares during the period. Norges Bank bought a new stake in Cisco Systems in the fourth quarter valued at approximately $2,026,921,000. Morgan Stanley boosted its stake in shares of Cisco Systems by 6.1% during the fourth quarter. Morgan Stanley now owns 38,947,804 shares of the network equipment provider’s stock valued at $1,742,915,000 after purchasing an additional 2,222,924 shares during the period. Dodge & Cox grew its holdings in shares of Cisco Systems by 27.3% in the fourth quarter. Dodge & Cox now owns 38,592,574 shares of the network equipment provider’s stock worth $1,727,018,000 after purchasing an additional 8,276,836 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Cisco Systems by 10.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 38,461,276 shares of the network equipment provider’s stock worth $1,721,142,000 after buying an additional 3,778,044 shares during the period. 70.62% of the stock is owned by institutional investors.

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $50.00 to $59.00 in a research report on Wednesday, March 31st. KeyCorp restated a “sector weight” rating on shares of Cisco Systems in a report on Thursday, April 29th. Wolfe Research upgraded Cisco Systems from a “peer perform” rating to an “outperform” rating and set a $63.00 price target on the stock in a report on Thursday, April 22nd. Oppenheimer restated a “buy” rating and set a $50.00 price target on shares of Cisco Systems in a report on Tuesday, February 9th. Finally, Raymond James boosted their price target on Cisco Systems from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, February 10th. Fourteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $50.71.

In other news, Director M Michele Burns sold 13,982 shares of the company’s stock in a transaction on Friday, March 26th. The stock was sold at an average price of $51.55, for a total value of $720,772.10. Following the completion of the sale, the director now directly owns 70,468 shares in the company, valued at approximately $3,632,625.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark D. Chandler sold 3,024 shares of the company’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $47.21, for a total value of $142,763.04. The disclosure for this sale can be found here. Insiders sold a total of 37,776 shares of company stock valued at $1,832,205 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

CSCO stock traded down $0.93 during midday trading on Wednesday, hitting $51.90. The company’s stock had a trading volume of 542,459 shares, compared to its average volume of 21,046,799. The firm’s 50-day moving average is $51.84 and its 200-day moving average is $46.10. The company has a market cap of $219.11 billion, a PE ratio of 21.48, a P/E/G ratio of 2.54 and a beta of 0.95. The company has a current ratio of 1.59, a quick ratio of 1.54 and a debt-to-equity ratio of 0.25. Cisco Systems, Inc. has a 12 month low of $35.28 and a 12 month high of $54.14.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Tuesday, February 9th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.03. The firm had revenue of $11.96 billion for the quarter, compared to analysts’ expectations of $11.92 billion. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. During the same period in the prior year, the firm earned $0.77 EPS. Analysts expect that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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

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