Nicholas Hoffman & Company LLC. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 41.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,213 shares of the network equipment provider’s stock after purchasing an additional 8,229 shares during the quarter. Nicholas Hoffman & Company LLC.’s holdings in Cisco Systems were worth $1,109,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Cisco Systems by 1.9% during the first quarter. BlackRock Inc. now owns 323,155,278 shares of the network equipment provider’s stock valued at $12,703,234,000 after buying an additional 5,966,755 shares during the last quarter. State Street Corp lifted its stake in shares of Cisco Systems by 0.6% in the 4th quarter. State Street Corp now owns 187,545,264 shares of the network equipment provider’s stock valued at $8,994,671,000 after purchasing an additional 1,132,414 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Cisco Systems by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 61,424,001 shares of the network equipment provider’s stock valued at $2,940,106,000 after purchasing an additional 1,272,644 shares during the last quarter. Norges Bank bought a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $2,297,257,000. Finally, FMR LLC lifted its stake in shares of Cisco Systems by 13.1% during the 4th quarter. FMR LLC now owns 36,607,406 shares of the network equipment provider’s stock worth $1,755,691,000 after acquiring an additional 4,244,954 shares during the last quarter. Hedge funds and other institutional investors own 70.94% of the company’s stock.

A number of brokerages recently issued reports on CSCO. KeyCorp lowered Cisco Systems from an “overweight” rating to a “sector weight” rating in a research note on Friday, April 17th. Standpoint Research raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. BidaskClub raised Cisco Systems from a “sell” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird raised their price objective on Cisco Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Finally, Piper Sandler raised their price objective on Cisco Systems from $42.00 to $44.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Sixteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $50.13.

CSCO traded up $0.09 on Friday, reaching $44.73. 5,977,504 shares of the stock were exchanged, compared to its average volume of 23,101,742. The company’s 50-day moving average price is $41.98 and its 200 day moving average price is $44.22. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $58.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 1.55. The firm has a market capitalization of $191.86 billion, a PE ratio of 17.53, a PEG ratio of 2.94 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 EPS for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.10. The company had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.87 billion. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. During the same quarter in the previous year, the firm posted $0.78 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

In other news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $41.17, for a total value of $2,881,900.00. Following the completion of the transaction, the chief financial officer now owns 308,241 shares of the company’s stock, valued at approximately $12,690,281.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.03% of the company’s stock.

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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