Baxter Bros Inc. bought a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the 2nd quarter, HoldingsChannel reports. The fund bought 5,294 shares of the network equipment provider’s stock, valued at approximately $228,000.

Other large investors have also recently modified their holdings of the company. Cetera Advisors LLC boosted its holdings in shares of Cisco Systems by 1.4% in the first quarter. Cetera Advisors LLC now owns 78,073 shares of the network equipment provider’s stock valued at $3,350,000 after buying an additional 1,106 shares during the period. Stellar Capital Management LLC boosted its holdings in shares of Cisco Systems by 3.4% in the first quarter. Stellar Capital Management LLC now owns 33,236 shares of the network equipment provider’s stock valued at $1,426,000 after buying an additional 1,107 shares during the period. FCG Advisors LLC boosted its holdings in shares of Cisco Systems by 7.9% in the first quarter. FCG Advisors LLC now owns 15,574 shares of the network equipment provider’s stock valued at $668,000 after buying an additional 1,140 shares during the period. Neumann Capital Management LLC boosted its holdings in shares of Cisco Systems by 6.8% in the first quarter. Neumann Capital Management LLC now owns 18,437 shares of the network equipment provider’s stock valued at $791,000 after buying an additional 1,167 shares during the period. Finally, Ballast Inc. boosted its holdings in shares of Cisco Systems by 6.6% in the first quarter. Ballast Inc. now owns 18,810 shares of the network equipment provider’s stock valued at $807,000 after buying an additional 1,172 shares during the period. 71.65% of the stock is owned by hedge funds and other institutional investors.

CSCO has been the subject of several research analyst reports. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Cowen upped their price target on shares of Cisco Systems from $51.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, August 16th. Morgan Stanley reduced their price target on shares of Cisco Systems from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, July 19th. JPMorgan Chase & Co. set a $59.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Thursday, August 16th. Finally, Royal Bank of Canada upped their price target on shares of Cisco Systems to $52.00 and gave the company an “outperform” rating in a 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 issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $47.76.

Shares of CSCO opened at $47.24 on Friday. Cisco Systems, Inc. has a 12 month low of $31.91 and a 12 month high of $48.06. The firm has a market cap of $226.57 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 2.80 and a beta of 1.06. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47.

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

In other Cisco Systems news, EVP Mark D. Chandler sold 31,842 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total value of $1,502,942.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP David Goeckeler sold 35,000 shares of the stock in a transaction on Friday, June 22nd. The shares were sold at an average price of $43.27, for a total transaction of $1,514,450.00. Following the completion of the sale, the executive vice president now owns 490,458 shares of the company’s stock, valued at approximately $21,222,117.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 136,842 shares of company stock valued at $6,321,392. Corporate insiders own 0.05% of the company’s stock.

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.

See Also: Market Capitalization, Large-Caps, Mid-Caps, Small-Caps

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

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