Laurel Wealth Advisors Inc. grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 97,207 shares of the network equipment provider’s stock after buying an additional 468 shares during the period. Cisco Systems accounts for about 1.2% of Laurel Wealth Advisors Inc.’s portfolio, making the stock its 14th largest position. Laurel Wealth Advisors Inc.’s holdings in Cisco Systems were worth $5,320,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Evolution Wealth Advisors LLC acquired a new stake in Cisco Systems during the 2nd quarter valued at approximately $33,000. Lowe Wealth Advisors LLC purchased a new stake in Cisco Systems in the 2nd quarter worth $38,000. Personal Wealth Partners purchased a new stake in Cisco Systems in the 2nd quarter worth $44,000. Ashburton Jersey Ltd acquired a new stake in Cisco Systems during the 2nd quarter worth $49,000. Finally, Cohen & Steers Inc. acquired a new stake in Cisco Systems during the 4th quarter worth $51,000. Institutional investors own 72.89% of the company’s stock.

Several research analysts have recently weighed in on the stock. Royal Bank of Canada lowered their price target on shares of Cisco Systems from $64.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. Bank of America reissued a “buy” rating and set a $62.00 price target on shares of Cisco Systems in a research report on Wednesday, July 10th. Morgan Stanley lowered their price target on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Cowen lowered their price target on shares of Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. Finally, KeyCorp lowered their price target on shares of Cisco Systems from $60.00 to $56.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and an average target price of $56.72.

In other news, EVP Mark D. Chandler sold 546 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total value of $3,270,400.00. Following the completion of the transaction, the chief financial officer now owns 277,548 shares of the company’s stock, valued at approximately $12,967,042.56. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.

Shares of CSCO stock traded down $0.05 during mid-day trading on Friday, reaching $49.88. The stock had a trading volume of 1,176,131 shares, compared to its average volume of 20,611,740. Cisco Systems, Inc. has a 12-month low of $40.25 and a 12-month high of $58.26. The company has a market cap of $212.43 billion, a P/E ratio of 17.50, a price-to-earnings-growth ratio of 2.29 and a beta of 1.26. The business has a 50-day simple moving average of $50.44 and a 200 day simple moving average of $53.70. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. During the same quarter last year, the business posted $0.70 earnings per share. The business’s revenue for the quarter was up 4.5% on a year-over-year basis. Research analysts anticipate that Cisco Systems, Inc. will post 3.06 EPS for the current year.

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.

See Also: Buyback

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

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