BI Asset Management Fondsmaeglerselskab A S lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 750,268 shares of the network equipment provider’s stock after selling 107,956 shares during the period. Cisco Systems comprises about 1.8% of BI Asset Management Fondsmaeglerselskab A S’s holdings, making the stock its 14th largest position. BI Asset Management Fondsmaeglerselskab A S’s holdings in Cisco Systems were worth $29,493,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of CSCO. Lannebo Fonder AB boosted its holdings in shares of Cisco Systems by 25.5% in the first quarter. Lannebo Fonder AB now owns 270,769 shares of the network equipment provider’s stock valued at $10,644,000 after acquiring an additional 55,000 shares during the period. Mutual of America Capital Management LLC boosted its stake in Cisco Systems by 0.8% during the 1st quarter. Mutual of America Capital Management LLC now owns 578,248 shares of the network equipment provider’s stock worth $22,731,000 after purchasing an additional 4,598 shares during the period. Flossbach Von Storch AG grew its position in Cisco Systems by 128.7% during the 1st quarter. Flossbach Von Storch AG now owns 6,540,666 shares of the network equipment provider’s stock worth $257,114,000 after purchasing an additional 3,681,180 shares during the last quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. increased its stake in Cisco Systems by 14.6% in the first quarter. Sompo Japan Nipponkoa Asset Management CO. LTD. now owns 200,210 shares of the network equipment provider’s stock valued at $7,870,000 after purchasing an additional 25,550 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of Cisco Systems by 7.2% during the first quarter. Sequoia Financial Advisors LLC now owns 55,399 shares of the network equipment provider’s stock worth $2,178,000 after buying an additional 3,729 shares during the period. 70.94% of the stock is owned by institutional investors and hedge funds.
CSCO has been the topic of a number of recent research reports. Citigroup boosted their target price on Cisco Systems from $40.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Nomura Securities dropped their price objective on shares of Cisco Systems from $47.00 to $43.00 and set a “neutral” rating on the stock in a research note on Monday, March 23rd. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, May 14th. Nomura Instinet lifted their target price on shares of Cisco Systems from $43.00 to $46.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. Finally, KeyCorp cut shares of Cisco Systems from an “overweight” rating to a “sector weight” rating in a report on Friday, April 17th. Sixteen research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $50.13.
Shares of NASDAQ:CSCO traded up $0.26 during mid-day trading on Friday, hitting $44.90. 12,395,086 shares of the company traded hands, compared to its average volume of 23,230,478. The firm’s 50 day simple moving average is $42.08 and its 200 day simple moving average is $44.21. Cisco Systems, Inc. has a 52-week low of $32.40 and a 52-week high of $58.26. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.59. The firm has a market cap of $188.48 billion, a P/E ratio of 17.82, a PEG 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 Thomson Reuters’ 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 company had revenue of $11.98 billion during the quarter, compared to the consensus estimate of $11.87 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. Equities research analysts expect that Cisco Systems, Inc. will post 2.86 EPS 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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