Cisco Systems, Inc. $CSCO Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,252,395 shares of the network equipment provider’s stock after purchasing an additional 1,157,704 shares during the period. Cisco Systems accounts for about 0.5% of Geode Capital Management LLC’s holdings, making the stock its 25th biggest holding. Geode Capital Management LLC owned approximately 2.51% of Cisco Systems worth $6,864,058,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Postrock Partners LLC lifted its holdings in Cisco Systems by 4.5% in the second quarter. Postrock Partners LLC now owns 3,480 shares of the network equipment provider’s stock valued at $241,000 after acquiring an additional 150 shares during the last quarter. Mount Vernon Associates Inc. MD lifted its stake in shares of Cisco Systems by 0.4% in the 2nd quarter. Mount Vernon Associates Inc. MD now owns 41,379 shares of the network equipment provider’s stock valued at $2,871,000 after purchasing an additional 150 shares during the last quarter. Lion Street Advisors LLC grew its holdings in shares of Cisco Systems by 0.7% during the 2nd quarter. Lion Street Advisors LLC now owns 20,694 shares of the network equipment provider’s stock worth $1,436,000 after purchasing an additional 152 shares during the period. Boyd Watterson Asset Management LLC OH increased its position in shares of Cisco Systems by 1.5% during the 2nd quarter. Boyd Watterson Asset Management LLC OH now owns 10,445 shares of the network equipment provider’s stock worth $725,000 after purchasing an additional 152 shares during the last quarter. Finally, Balboa Wealth Partners raised its holdings in Cisco Systems by 1.7% in the 2nd quarter. Balboa Wealth Partners now owns 9,150 shares of the network equipment provider’s stock valued at $635,000 after buying an additional 153 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CSCO shares. Morgan Stanley lifted their price target on shares of Cisco Systems from $73.00 to $77.00 and gave the company an “overweight” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. UBS Group raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $74.00 to $88.00 in a research report on Monday, November 3rd. Hsbc Global Res lowered Cisco Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Finally, William Blair upgraded Cisco Systems to a “hold” rating in a report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $75.50.

Cisco Systems Stock Performance

Shares of CSCO opened at $71.71 on Wednesday. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $74.84. The stock has a market capitalization of $282.59 billion, a PE ratio of 27.37, a PEG ratio of 3.00 and a beta of 0.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.91 and a current ratio of 1.00. The stock has a 50-day simple moving average of $69.33 and a 200-day simple moving average of $67.16.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. Cisco Systems had a net margin of 18.45% and a return on equity of 27.06%. The company had revenue of $14.67 billion during the quarter, compared to analysts’ expectations of $14.63 billion. During the same quarter in the previous year, the business posted $0.87 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 7,511 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $66.84, for a total value of $502,035.24. Following the transaction, the executive vice president owned 161,467 shares of the company’s stock, valued at $10,792,454.28. This represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Oliver Tuszik sold 17,526 shares of Cisco Systems stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $67.95, for a total value of $1,190,891.70. Following the sale, the executive vice president directly owned 198,855 shares of the company’s stock, valued at $13,512,197.25. This trade represents a 8.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 82,965 shares of company stock valued at $5,559,996. Insiders own 0.01% 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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.