Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Aft Forsyth & Company Inc.

Aft Forsyth & Company Inc. decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 26.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,075 shares of the network equipment provider’s stock after selling 8,603 shares during the quarter. Aft Forsyth & Company Inc.’s holdings in Cisco Systems were worth $946,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Financial Advocates Investment Management boosted its position in shares of Cisco Systems by 0.5% during the 4th quarter. Financial Advocates Investment Management now owns 40,313 shares of the network equipment provider’s stock valued at $1,933,000 after acquiring an additional 204 shares during the last quarter. Alexandria Capital LLC boosted its position in shares of Cisco Systems by 0.4% during the 4th quarter. Alexandria Capital LLC now owns 51,487 shares of the network equipment provider’s stock valued at $2,469,000 after acquiring an additional 210 shares during the last quarter. Noesis Capital Mangement Corp boosted its position in shares of Cisco Systems by 2.5% during the 4th quarter. Noesis Capital Mangement Corp now owns 9,140 shares of the network equipment provider’s stock valued at $438,000 after acquiring an additional 227 shares during the last quarter. SNS Financial Group LLC lifted its position in Cisco Systems by 1.2% in the fourth quarter. SNS Financial Group LLC now owns 18,835 shares of the network equipment provider’s stock valued at $903,000 after buying an additional 230 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. lifted its position in Cisco Systems by 4.6% in 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 buying an additional 233 shares during the last quarter. 70.94% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have commented on the stock. Robert W. Baird upped their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Nomura upped their target price on shares of Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Nomura Securities decreased their target price on shares of Cisco Systems from $47.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday, March 23rd. Bank of America reaffirmed a “hold” rating and issued a $44.00 target price on shares of Cisco Systems in a research report on Thursday, May 14th. Finally, Piper Sandler upped their target price on shares of Cisco Systems from $42.00 to $44.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Sixteen equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $50.13.

In related news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $41.17, for a total transaction of $2,881,900.00. Following the sale, the chief financial officer now directly owns 308,241 shares in the company, valued at $12,690,281.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.03% of the stock is currently owned by corporate insiders.

Shares of CSCO stock traded up $0.26 during trading hours on Friday, reaching $44.90. 12,395,086 shares of the stock were exchanged, compared to its average volume of 23,230,478. The business’s fifty day moving average is $42.08 and its two-hundred day moving average is $44.21. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 1.55. Cisco Systems, Inc. has a 12-month low of $32.40 and a 12-month high of $58.26. The firm has a market capitalization of $188.48 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.89 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO) last released its 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 firm had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.87 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. As a group, equities research analysts predict that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.

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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