National Asset Management Inc. Sells 19,902 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

National Asset Management Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,114 shares of the network equipment provider’s stock after selling 19,902 shares during the quarter. National Asset Management Inc.’s holdings in Cisco Systems were worth $5,457,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Lehman & Derafelo Financial Resources LLC increased its position in Cisco Systems by 1.1% during the 1st quarter. Lehman & Derafelo Financial Resources LLC now owns 129,542 shares of the network equipment provider’s stock valued at $6,699,000 after purchasing an additional 1,433 shares during the period. Congress Asset Management Co. MA increased its position in Cisco Systems by 6.5% during the 1st quarter. Congress Asset Management Co. MA now owns 218,318 shares of the network equipment provider’s stock valued at $11,289,000 after purchasing an additional 13,345 shares during the period. TCW Group Inc. increased its position in Cisco Systems by 1,747.8% during the 1st quarter. TCW Group Inc. now owns 606,974 shares of the network equipment provider’s stock valued at $31,386,000 after purchasing an additional 574,126 shares during the period. Destination Wealth Management increased its position in Cisco Systems by 23.5% during the 1st quarter. Destination Wealth Management now owns 26,022 shares of the network equipment provider’s stock valued at $1,346,000 after purchasing an additional 4,960 shares during the period. Finally, Ballast Inc. grew its position in shares of Cisco Systems by 20.1% in the 1st quarter. Ballast Inc. now owns 26,032 shares of the network equipment provider’s stock worth $1,346,000 after buying an additional 4,357 shares during the last quarter. Institutional investors own 71.92% of the company’s stock.

Shares of CSCO traded up $0.05 during mid-day trading on Wednesday, hitting $57.92. 134,952 shares of the company’s stock were exchanged, compared to its average volume of 18,916,217. The company has a market cap of $244.29 billion, a price-to-earnings ratio of 23.15, a P/E/G ratio of 3.01 and a beta of 0.91. Cisco Systems, Inc. has a fifty-two week low of $35.28 and a fifty-two week high of $60.27. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.43 and a current ratio of 1.49. The stock’s 50-day moving average is $56.34 and its 200-day moving average is $53.33.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Tuesday, August 17th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.01. The business had revenue of $13.13 billion for the quarter, compared to analysts’ expectations of $13.04 billion. Cisco Systems had a net margin of 21.26% and a return on equity of 30.82%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 earnings per share. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.08 EPS for the current year.

In related news, CEO Charles Robbins sold 6,543 shares of the firm’s stock in a transaction that occurred on Wednesday, August 25th. The shares were sold at an average price of $59.69, for a total value of $390,551.67. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Maria Martinez sold 4,000 shares of the stock in a transaction that occurred on Monday, August 23rd. The shares were sold at an average price of $58.52, for a total transaction of $234,080.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 64,529 shares of company stock worth $3,827,391. 0.02% of the stock is owned by corporate insiders.

Several analysts have commented on CSCO shares. DZ Bank restated a “hold” rating and set a $51.00 price objective on shares of Cisco Systems in a research note on Thursday, May 27th. Wells Fargo & Company upped their target price on shares of Cisco Systems from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Thursday, September 9th. Barclays upped their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the company an “overweight” rating in a report on Thursday, August 19th. They noted that the move was a valuation call. Oppenheimer upped their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Thursday, August 19th. Finally, Citigroup upped their price objective on shares of Cisco Systems from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 19th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Cisco Systems has an average rating of “Buy” and a consensus price target of $56.19.

Cisco Systems Company Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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

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