Krueger & Catalano Capital Partners LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,778 shares of the network equipment provider’s stock after purchasing an additional 337 shares during the period. Krueger & Catalano Capital Partners LLC’s holdings in Cisco Systems were worth $1,247,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in CSCO. Holderness Investments Co. raised its holdings in shares of Cisco Systems by 2.3% in the 3rd quarter. Holderness Investments Co. now owns 68,710 shares of the network equipment provider’s stock valued at $3,343,000 after purchasing an additional 1,576 shares in the last quarter. Johnson Financial Group Inc. raised its holdings in shares of Cisco Systems by 12.1% in the 3rd quarter. Johnson Financial Group Inc. now owns 142,844 shares of the network equipment provider’s stock valued at $6,950,000 after purchasing an additional 15,389 shares in the last quarter. PDS Planning Inc raised its holdings in shares of Cisco Systems by 35.6% in the 3rd quarter. PDS Planning Inc now owns 5,085 shares of the network equipment provider’s stock valued at $247,000 after purchasing an additional 1,336 shares in the last quarter. Oakwood Capital Management LLC CA raised its holdings in shares of Cisco Systems by 7.1% in the 3rd quarter. Oakwood Capital Management LLC CA now owns 166,375 shares of the network equipment provider’s stock valued at $8,094,000 after purchasing an additional 11,043 shares in the last quarter. Finally, Truewealth LLC raised its holdings in shares of Cisco Systems by 6.7% in the 4th quarter. Truewealth LLC now owns 14,170 shares of the network equipment provider’s stock valued at $614,000 after purchasing an additional 890 shares in the last quarter. 69.04% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently commented on CSCO shares. Goldman Sachs Group lowered shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and boosted their price target for the company from $58.00 to $62.00 in a report on Tuesday, April 16th. BidaskClub lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, May 7th. Bank of America reiterated a “buy” rating and set a $56.00 price objective on shares of Cisco Systems in a research note on Thursday, February 14th. Jefferies Financial Group boosted their price objective on shares of Cisco Systems to $55.00 and gave the stock a “buy” rating in a research note on Thursday, February 14th. They noted that the move was a valuation call. Finally, Citigroup upped their price target on shares of Cisco Systems from $52.00 to $56.00 and gave the company a “buy” rating in a research note on Thursday, February 14th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $55.87.
Shares of CSCO stock traded down $0.83 during trading hours on Wednesday, hitting $55.69. The company’s stock had a trading volume of 17,733,787 shares, compared to its average volume of 20,893,713. The company has a market capitalization of $272.14 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 2.93 and a beta of 1.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.74. Cisco Systems, Inc. has a 12-month low of $40.25 and a 12-month high of $57.53.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The business had revenue of $12.96 billion for the quarter, compared to the consensus estimate of $12.89 billion. During the same period in the prior year, the firm earned $0.66 EPS. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.76 earnings per share for the current year.
Cisco Systems announced that its Board of Directors has approved a share buyback plan on Wednesday, February 13th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other Cisco Systems news, EVP David Goeckeler sold 30,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the transaction, the executive vice president now directly owns 419,439 shares of the company’s stock, valued at $21,840,188.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Mark D. Chandler sold 3,750 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $55.79, for a total transaction of $209,212.50. The disclosure for this sale can be found here. Insiders have sold 103,750 shares of company stock worth $5,390,313 over the last three months. 0.03% of the stock is currently owned by insiders.
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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