Taylor Cottrill Erickson & Associates Inc. Increases Position in Cisco Systems Inc. (CSCO)
Taylor Cottrill Erickson & Associates Inc. increased its stake in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 0.9% during the third quarter, Holdings Channel reports. The fund owned 65,957 shares of the network equipment provider’s stock after buying an additional 613 shares during the period. Taylor Cottrill Erickson & Associates Inc.’s holdings in Cisco Systems were worth $2,092,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of CSCO. Moore Capital Management LP acquired a new position in Cisco Systems during the first quarter valued at about $7,118,000. Sterling Ridge Capital Management LP acquired a new position in Cisco Systems during the first quarter valued at about $455,000. A.R.T. Advisors LLC acquired a new position in Cisco Systems during the first quarter valued at about $9,103,000. Silvercrest Asset Management Group LLC increased its position in Cisco Systems by 2.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 3,137,374 shares of the network equipment provider’s stock valued at $89,321,000 after buying an additional 79,859 shares during the last quarter. Finally, Clark Capital Management Group Inc. increased its position in Cisco Systems by 31.7% in the first quarter. Clark Capital Management Group Inc. now owns 473,572 shares of the network equipment provider’s stock valued at $13,483,000 after buying an additional 114,092 shares during the last quarter. 74.29% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.03% during mid-day trading on Wednesday, hitting $29.82. 26,224,892 shares of the stock were exchanged. The stock has a 50 day moving average of $30.55 and a 200-day moving average of $30.16. Cisco Systems Inc. has a 52-week low of $22.46 and a 52-week high of $31.95. The stock has a market cap of $149.69 billion, a price-to-earnings ratio of 14.27 and a beta of 1.42.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. The company earned $12.35 billion during the quarter, compared to analyst estimates of $12.34 billion. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. Cisco Systems’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 earnings per share. Equities analysts predict that Cisco Systems Inc. will post $2.37 EPS for the current fiscal year.
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Several research firms have recently issued reports on CSCO. FBN Securities set a $35.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research note on Saturday, November 19th. RBC Capital Markets reiterated an “outperform” rating and set a $35.00 price objective on shares of Cisco Systems in a research report on Wednesday. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $32.00 price objective on shares of Cisco Systems in a research report on Thursday, August 18th. Morgan Stanley increased their price objective on shares of Cisco Systems from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. Finally, Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $32.05 price objective for the company. in a research report on Tuesday, September 13th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $32.73.
In other news, EVP Chris Dedicoat sold 60,000 shares of Cisco Systems stock in a transaction on Friday, September 16th. The stock was sold at an average price of $30.87, for a total transaction of $1,852,200.00. Following the completion of the sale, the executive vice president now directly owns 214,605 shares in the company, valued at $6,624,856.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Prat Bhatt sold 25,706 shares of Cisco Systems stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $31.02, for a total value of $797,400.12. Following the sale, the senior vice president now owns 133,113 shares of the company’s stock, valued at $4,129,165.26. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
Cisco Systems Company Profile
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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