Lido Advisors LLC Acquires 7,034 Shares of Cisco Systems, Inc. (CSCO)

Lido Advisors LLC increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.8% during the second quarter, HoldingsChannel reports. The firm owned 61,903 shares of the network equipment provider’s stock after buying an additional 7,034 shares during the period. Lido Advisors LLC’s holdings in Cisco Systems were worth $2,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CSCO. Boston Partners lifted its position in Cisco Systems by 1.5% during the second quarter. Boston Partners now owns 34,447,604 shares of the network equipment provider’s stock valued at $1,482,280,000 after acquiring an additional 499,099 shares during the last quarter. Fisher Asset Management LLC lifted its position in Cisco Systems by 3.8% during the second quarter. Fisher Asset Management LLC now owns 17,969,867 shares of the network equipment provider’s stock valued at $773,243,000 after acquiring an additional 662,706 shares during the last quarter. Swiss National Bank lifted its position in Cisco Systems by 0.4% during the second quarter. Swiss National Bank now owns 16,274,993 shares of the network equipment provider’s stock valued at $700,313,000 after acquiring an additional 69,400 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Cisco Systems by 4.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,279,774 shares of the network equipment provider’s stock valued at $657,489,000 after acquiring an additional 683,733 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Cisco Systems by 3.8% during the second quarter. PNC Financial Services Group Inc. now owns 13,904,755 shares of the network equipment provider’s stock valued at $598,322,000 after acquiring an additional 511,913 shares during the last quarter. Hedge funds and other institutional investors own 70.28% of the company’s stock.

CSCO has been the subject of a number of analyst reports. JPMorgan Chase & Co. set a $59.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research report on Thursday, August 16th. KeyCorp increased their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, November 15th. Loop Capital raised shares of Cisco Systems from a “hold” rating to a “positive” rating and set a $45.00 target price for the company in a research report on Thursday, November 15th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, October 3rd. Finally, Piper Jaffray Companies set a $50.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Tuesday, September 11th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $50.26.

In other news, Chairman Charles Robbins sold 217,420 shares of the stock in a transaction on Monday, September 17th. The shares were sold at an average price of $47.28, for a total value of $10,279,617.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $3,304,000.00. Following the completion of the sale, the chief financial officer now owns 720,930 shares in the company, valued at approximately $34,027,896. The disclosure for this sale can be found here. Insiders sold 558,943 shares of company stock worth $26,362,383 in the last quarter. Company insiders own 0.03% of the company’s stock.

NASDAQ:CSCO opened at $47.87 on Friday. The firm has a market capitalization of $230.61 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 2.80 and a beta of 1.11. Cisco Systems, Inc. has a 1-year low of $36.73 and a 1-year high of $49.47. The company has a current ratio of 2.11, a quick ratio of 2.05 and a debt-to-equity ratio of 0.42.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. The firm had revenue of $13.07 billion for the quarter, compared to analyst estimates of $12.86 billion. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 2.7 EPS for the current fiscal year.

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Cisco Systems Company 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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