Dorsey & Whitney Trust CO LLC cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,656 shares of the network equipment provider’s stock after selling 2,936 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Cisco Systems were worth $2,698,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Financial Advocates Investment Management boosted its holdings in Cisco Systems by 0.5% during the fourth quarter. Financial Advocates Investment Management now owns 40,313 shares of the network equipment provider’s stock worth $1,933,000 after buying an additional 204 shares in the last quarter. Alexandria Capital LLC lifted its holdings in Cisco Systems by 0.4% during the fourth quarter. Alexandria Capital LLC now owns 51,487 shares of the network equipment provider’s stock valued at $2,469,000 after purchasing an additional 210 shares in the last quarter. Noesis Capital Mangement Corp lifted its holdings in Cisco Systems by 2.5% during the fourth quarter. Noesis Capital Mangement Corp now owns 9,140 shares of the network equipment provider’s stock valued at $438,000 after purchasing an additional 227 shares in the last quarter. SNS Financial Group LLC lifted its holdings in Cisco Systems by 1.2% during the fourth quarter. SNS Financial Group LLC now owns 18,835 shares of the network equipment provider’s stock valued at $903,000 after purchasing an additional 230 shares in the last quarter. Finally, Jackson Grant Investment Advisers Inc. lifted its holdings in Cisco Systems by 4.6% during the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 5,299 shares of the network equipment provider’s stock valued at $254,000 after purchasing an additional 233 shares in the last quarter. 71.35% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:CSCO traded up $0.21 on Friday, reaching $45.81. 8,235,208 shares of the company were exchanged, compared to its average volume of 22,734,946. The company has a current ratio of 1.59, a quick ratio of 1.55 and a debt-to-equity ratio of 0.32. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $58.26. The firm has a market cap of $194.06 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 2.98 and a beta of 0.97. The company has a 50-day moving average of $42.76 and a 200-day moving average of $44.14.

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

Several research firms have issued reports on CSCO. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, May 14th. KeyCorp downgraded shares of Cisco Systems from an “overweight” rating to a “sector weight” rating in a report on Friday, April 17th. Piper Sandler raised their price target on shares of Cisco Systems from $42.00 to $44.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Barclays raised their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Thursday, May 14th. Finally, William Blair reissued a “market perform” rating on shares of Cisco Systems in a research note on Thursday, February 13th. Sixteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Cisco Systems has an average rating of “Hold” and an average target price of $50.13.

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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