Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Ghe LLC

Ghe LLC decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 34,277 shares of the network equipment provider’s stock after selling 180 shares during the period. Ghe LLC’s holdings in Cisco Systems were worth $1,834,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after purchasing an additional 288,775 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after purchasing an additional 51,924 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares during the period. Quintet Private Bank Europe S.A. boosted its stake in Cisco Systems by 17.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after purchasing an additional 92,179 shares during the period. Finally, IRON Financial LLC acquired a new position in Cisco Systems in the 3rd quarter worth approximately $856,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares in the company, valued at $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,529 shares of company stock worth $3,509,049. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CSCO. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. Barclays decreased their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Tigress Financial lifted their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $55.00 to $66.00 in a research report on Monday. Twelve analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.32.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.42 during trading on Wednesday, reaching $58.29. The stock had a trading volume of 852,802 shares, compared to its average volume of 18,876,203. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The firm has a market capitalization of $232.62 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 4.86 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $53.64 and a two-hundred day simple moving average of $49.57.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company posted $1.01 earnings per share. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

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.