Union Bankshares Corp decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 7.2% during the second quarter, HoldingsChannel.com reports. The firm owned 157,686 shares of the network equipment provider’s stock after selling 12,231 shares during the period. Cisco Systems comprises about 2.2% of Union Bankshares Corp’s portfolio, making the stock its 6th biggest holding. Union Bankshares Corp’s holdings in Cisco Systems were worth $6,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Knights of Columbus Asset Advisors LLC increased its holdings in Cisco Systems by 47.1% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock worth $5,191,000 after buying an additional 38,725 shares during the last quarter. Covington Investment Advisors Inc. bought a new stake in Cisco Systems during the first quarter worth approximately $5,331,000. Winfield Associates Inc. boosted its position in Cisco Systems by 121.0% during the first quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock worth $200,000 after purchasing an additional 2,557 shares during the period. KBC Group NV boosted its position in Cisco Systems by 29.6% during the first quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock worth $89,873,000 after purchasing an additional 478,673 shares during the period. Finally, Boston Family Office LLC boosted its position in Cisco Systems by 2.1% during the first quarter. Boston Family Office LLC now owns 96,427 shares of the network equipment provider’s stock worth $4,136,000 after purchasing an additional 2,000 shares during the period. Institutional investors own 71.65% of the company’s stock.

A number of equities research analysts have issued reports on the company. Piper Jaffray Companies set a $50.00 target price on Cisco Systems and gave the stock a “buy” rating in a research report on Monday, July 9th. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, May 22nd. Credit Suisse Group upped their target price on Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Thursday, August 16th. BidaskClub cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Finally, BMO Capital Markets upped their target price on Cisco Systems from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Thursday, August 16th. Nine equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $47.76.

In other news, EVP David Goeckeler sold 35,000 shares of the stock in a transaction that occurred on Friday, June 22nd. The stock was sold at an average price of $43.27, for a total value of $1,514,450.00. Following the completion of the sale, the executive vice president now directly owns 490,458 shares of the company’s stock, valued at $21,222,117.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.05% of the stock is currently owned by corporate insiders.

CSCO opened at $47.05 on Friday. Cisco Systems, Inc. has a 1-year low of $31.46 and a 1-year high of $48.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22. The company has a market capitalization of $227.77 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 2.81 and a beta of 1.06.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The company had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period in the prior year, the business earned $0.61 earnings per share. Cisco Systems’s revenue for the quarter was up 5.9% compared to the same quarter last year. sell-side analysts predict that Cisco Systems, Inc. will post 2.65 EPS for the current year.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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