Northern Oak Wealth Management Inc. lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 227,048 shares of the network equipment provider’s stock after selling 10,554 shares during the quarter. Cisco Systems makes up approximately 1.5% of Northern Oak Wealth Management Inc.’s holdings, making the stock its 18th largest position. Northern Oak Wealth Management Inc.’s holdings in Cisco Systems were worth $7,674,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in CSCO. Boston Partners boosted its position in Cisco Systems by 304.2% during the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after purchasing an additional 23,002,159 shares during the period. Karp Capital Management Corp acquired a new position in Cisco Systems during the 1st quarter valued at approximately $109,564,000. Mondrian Investment Partners LTD acquired a new position in Cisco Systems during the 1st quarter valued at approximately $60,047,000. Acadian Asset Management LLC boosted its position in Cisco Systems by 469.6% during the 1st quarter. Acadian Asset Management LLC now owns 929,317 shares of the network equipment provider’s stock valued at $31,412,000 after purchasing an additional 766,169 shares during the period. Finally, Oppenheimer Asset Management Inc. acquired a new position in Cisco Systems during the 1st quarter valued at approximately $25,059,000. Institutional investors and hedge funds own 74.70% of the company’s stock.
A number of research analysts recently issued reports on CSCO shares. Instinet restated a “neutral” rating and set a $29.00 price objective on shares of Cisco Systems in a research report on Monday, July 3rd. J P Morgan Chase & Co reiterated a “neutral” rating on shares of Cisco Systems in a research report on Monday, June 26th. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $33.39 price target for the company in a research report on Monday, July 17th. Stifel Nicolaus set a $34.00 price target on Cisco Systems and gave the stock a “hold” rating in a research report on Tuesday, August 15th. Finally, William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research report on Sunday, May 21st. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $35.57.
In other news, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the sale, the insider now directly owns 729,305 shares in the company, valued at $22,710,557.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded down 1.126% during trading on Wednesday, hitting $32.045. The stock had a trading volume of 9,368,116 shares. The stock has a market capitalization of $158.69 billion, a P/E ratio of 16.866 and a beta of 1.19. The stock’s 50-day moving average is $31.60 and its 200-day moving average is $32.49. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post $2.43 EPS for the current fiscal year.
Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).
Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.