Eastern Bank Acquires 3,724 Shares of Cisco Systems, Inc. (CSCO)

Eastern Bank raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% during the 2nd quarter, Holdings Channel reports. The firm owned 115,160 shares of the network equipment provider’s stock after acquiring an additional 3,724 shares during the period. Eastern Bank’s holdings in Cisco Systems were worth $4,956,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Culbertson A N & Co. Inc. boosted its stake in shares of Cisco Systems by 3.3% during the 2nd quarter. Culbertson A N & Co. Inc. now owns 123,523 shares of the network equipment provider’s stock worth $5,315,000 after acquiring an additional 3,921 shares in the last quarter. Oakbrook Investments LLC boosted its stake in shares of Cisco Systems by 33.8% during the 2nd quarter. Oakbrook Investments LLC now owns 236,222 shares of the network equipment provider’s stock worth $10,165,000 after acquiring an additional 59,675 shares in the last quarter. Westpac Banking Corp boosted its stake in shares of Cisco Systems by 4.0% during the 2nd quarter. Westpac Banking Corp now owns 696,574 shares of the network equipment provider’s stock worth $29,974,000 after acquiring an additional 26,972 shares in the last quarter. Pendal Group Ltd boosted its stake in shares of Cisco Systems by 502.1% during the 2nd quarter. Pendal Group Ltd now owns 433,570 shares of the network equipment provider’s stock worth $18,657,000 after acquiring an additional 361,556 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. boosted its stake in shares of Cisco Systems by 28.3% during the 2nd quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 77,000 shares of the network equipment provider’s stock worth $3,313,000 after acquiring an additional 17,000 shares in the last quarter. 71.65% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on the stock. Piper Jaffray Companies set a $50.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Monday, July 9th. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, May 22nd. Credit Suisse Group increased their target price on shares of Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a research note on Thursday, August 16th. BidaskClub lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Finally, BMO Capital Markets increased their target price on shares of Cisco Systems from $43.00 to $48.00 and gave the stock a “market perform” rating in a research note on Thursday, August 16th. Nine analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $47.76.

CSCO stock opened at $47.40 on Friday. The stock has a market capitalization of $225.89 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 2.79 and a beta of 1.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22. Cisco Systems, Inc. has a 12 month low of $32.12 and a 12 month high of $48.06.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. The company had revenue of $12.84 billion during the quarter, compared to the consensus estimate of $12.76 billion. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. Cisco Systems’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 EPS. sell-side analysts expect that Cisco Systems, Inc. will post 2.65 earnings per share for the current year.

In other Cisco Systems news, SVP Irving Tan sold 68,308 shares of the stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $47.38, for a total value of $3,236,433.04. Following the completion of the sale, the senior vice president now owns 150,763 shares in the company, valued at approximately $7,143,150.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $3,304,000.00. Following the completion of the sale, the chief financial officer now owns 720,930 shares of the company’s stock, valued at approximately $34,027,896. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,150 shares of company stock valued at $9,557,825. 0.05% of the stock is owned by insiders.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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