Greenwood Capital Associates LLC Acquires 2,356 Shares of Cisco Systems, Inc. (CSCO)
Greenwood Capital Associates LLC lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 129,986 shares of the network equipment provider’s stock after purchasing an additional 2,356 shares during the period. Greenwood Capital Associates LLC’s holdings in Cisco Systems were worth $4,068,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Barnett & Company Inc. boosted its holdings in shares of Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares during the period. Tortoise Investment Management LLC boosted its holdings in shares of Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares during the period. Watermark Asset Management Inc. acquired a new position in shares of Cisco Systems in the first quarter worth about $122,000. Grove Bank & Trust boosted its holdings in shares of Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after buying an additional 2,120 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its holdings in shares of Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after buying an additional 560 shares during the period. 75.79% of the stock is currently owned by institutional investors.
Shares of Cisco Systems, Inc. (CSCO) opened at $37.72 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The stock has a market cap of $185,880.19, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 3.40 and a beta of 1.19. Cisco Systems, Inc. has a one year low of $29.24 and a one year high of $38.03.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. equities research analysts predict that Cisco Systems, Inc. will post 2.21 EPS for the current fiscal year.
Several research analysts have commented on the stock. Vetr cut shares of Cisco Systems from a “hold” rating to a “sell” rating and set a $35.93 target price for the company. in a report on Wednesday, November 29th. Sanford C. Bernstein reiterated a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a report on Monday, November 27th. Argus raised their target price on shares of Cisco Systems from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, November 17th. Cowen reiterated a “buy” rating on shares of Cisco Systems in a report on Friday, November 17th. Finally, MKM Partners raised their target price on shares of Cisco Systems to $38.00 and gave the stock a “neutral” rating in a report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have given a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $36.80.
In other Cisco Systems news, CAO Prat Bhatt sold 2,606 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $95,092.94. Following the completion of the sale, the chief accounting officer now directly owns 89,184 shares in the company, valued at $3,254,324.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the completion of the sale, the insider now owns 712,736 shares of the company’s stock, valued at $26,014,864. The disclosure for this sale can be found here. Insiders sold 493,530 shares of company stock valued at $16,993,798 over the last quarter. Corporate insiders own 0.05% of the company’s stock.
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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).
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