American Money Management LLC lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,220 shares of the network equipment provider’s stock after selling 328 shares during the quarter. American Money Management LLC’s holdings in Cisco Systems were worth $441,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Permanens Capital L.P. bought a new stake in Cisco Systems during the fourth quarter valued at $31,000. Lion Street Advisors LLC acquired a new position in shares of Cisco Systems during the first quarter valued at about $31,000. Bourgeon Capital Management LLC acquired a new position in shares of Cisco Systems during the first quarter valued at about $32,000. Avondale Wealth Management raised its holdings in shares of Cisco Systems by 238.0% during the first quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock valued at $39,000 after purchasing an additional 707 shares during the period. Finally, Efficient Wealth Management LLC acquired a new position in shares of Cisco Systems during the first quarter valued at about $44,000. 71.52% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:CSCO traded up $0.97 during mid-day trading on Friday, hitting $47.83. 22,578,784 shares of the company’s stock were exchanged, compared to its average volume of 23,796,568. Cisco Systems, Inc. has a one year low of $32.40 and a one year 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 business has a fifty day moving average price of $43.57 and a 200 day moving average price of $44.11. The company has a market cap of $198.19 billion, a PE ratio of 19.14, a P/E/G ratio of 3.04 and a beta of 1.00.

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

Several brokerages have recently weighed in on CSCO. Barclays upped their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Raymond James upped their price objective on shares of Cisco Systems from $48.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Wells Fargo & Co upped their price objective on shares of Cisco Systems from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Piper Sandler upped their price objective on shares of Cisco Systems from $42.00 to $44.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, May 14th. Sixteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $50.13.

About Cisco Systems

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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