Cisco Systems, Inc. (NASDAQ:CSCO) Position Lowered by Oarsman Capital Inc.

Oarsman Capital Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 38.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 27,977 shares of the network equipment provider’s stock after selling 17,669 shares during the quarter. Oarsman Capital Inc.’s holdings in Cisco Systems were worth $1,100,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Permanens Capital L.P. bought a new position in shares of Cisco Systems during the fourth quarter worth about $31,000. Lion Street Advisors LLC bought a new position in Cisco Systems in the first quarter worth about $31,000. Emerald Advisers LLC bought a new position in Cisco Systems in the fourth quarter worth about $38,000. Bourgeon Capital Management LLC bought a new position in Cisco Systems in the first quarter worth about $32,000. Finally, Avondale Wealth Management lifted its holdings in Cisco Systems by 238.0% in the first quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock worth $39,000 after acquiring an additional 707 shares during the last quarter. 71.52% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ CSCO traded up $0.18 during mid-day trading on Tuesday, reaching $46.48. 9,605,672 shares of the company traded hands, compared to its average volume of 23,476,058. 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 firm has a market cap of $201.91 billion, a PE ratio of 18.37, a price-to-earnings-growth ratio of 3.10 and a beta of 1.00. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $58.26. The stock has a fifty day simple moving average of $43.24 and a 200-day simple moving average of $44.11.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.10. The firm had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.87 billion. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. During the same quarter in the previous year, the business posted $0.78 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.

A number of brokerages have issued reports on CSCO. Nomura Securities cut their target price on shares of Cisco Systems from $47.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, March 23rd. Nomura raised their target price on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Robert W. Baird raised their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Nomura Instinet raised their target price on shares of Cisco Systems from $43.00 to $46.00 and gave the stock 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 analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $50.13.

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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