Macquarie Group Ltd. Sells 395,872 Shares of Cisco Systems, Inc. (CSCO)

Macquarie Group Ltd. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,053,469 shares of the network equipment provider’s stock after selling 395,872 shares during the quarter. Cisco Systems comprises approximately 1.3% of Macquarie Group Ltd.’s portfolio, making the stock its 11th biggest holding. Macquarie Group Ltd.’s holdings in Cisco Systems were worth $733,800,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Morgan Stanley grew its stake in shares of Cisco Systems by 15.9% in the second quarter. Morgan Stanley now owns 50,957,358 shares of the network equipment provider’s stock valued at $2,192,694,000 after buying an additional 7,009,359 shares in the last quarter. Boston Partners grew its stake in Cisco Systems by 1.5% during the 2nd quarter. Boston Partners now owns 34,447,604 shares of the network equipment provider’s stock valued at $1,482,280,000 after purchasing an additional 499,099 shares in the last quarter. Fisher Asset Management LLC grew its stake in Cisco Systems by 3.8% during the 2nd quarter. Fisher Asset Management LLC now owns 17,969,867 shares of the network equipment provider’s stock valued at $773,243,000 after purchasing an additional 662,706 shares in the last quarter. Swiss National Bank grew its stake in Cisco Systems by 0.4% during the 2nd quarter. Swiss National Bank now owns 16,274,993 shares of the network equipment provider’s stock valued at $700,313,000 after purchasing an additional 69,400 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Cisco Systems by 4.7% during the 2nd 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 purchasing an additional 683,733 shares in the last quarter. Institutional investors and hedge funds own 69.52% of the company’s stock.

Shares of CSCO stock opened at $48.74 on Tuesday. Cisco Systems, Inc. has a 1 year low of $37.17 and a 1 year high of $49.47. The firm has a market cap of $230.61 billion, a PE ratio of 20.83, a PEG ratio of 2.80 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.05 and a current ratio of 2.11.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.03. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The company had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same period last year, the firm earned $0.61 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. As a group, research analysts expect that Cisco Systems, Inc. will post 2.7 earnings per share for the current year.

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

In other news, EVP Mark D. Chandler sold 31,842 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $1,502,942.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Charles Robbins sold 217,420 shares of Cisco Systems 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 558,943 shares of company stock worth $26,362,383. 0.03% of the stock is owned by insiders.

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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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