Westpac Banking Corp boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.0% during the 2nd quarter, Holdings Channel reports. The firm owned 696,574 shares of the network equipment provider’s stock after purchasing an additional 26,972 shares during the period. Cisco Systems makes up about 0.6% of Westpac Banking Corp’s holdings, making the stock its 27th biggest holding. Westpac Banking Corp’s holdings in Cisco Systems were worth $29,974,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in CSCO. Amundi Pioneer Asset Management Inc. grew its position in Cisco Systems by 91.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 19,498,882 shares of the network equipment provider’s stock valued at $746,806,000 after purchasing an additional 9,292,187 shares during the last quarter. Mackenzie Financial Corp grew its position in Cisco Systems by 5,651.3% during the 4th quarter. Mackenzie Financial Corp now owns 4,910,280 shares of the network equipment provider’s stock valued at $188,064,000 after purchasing an additional 4,824,903 shares during the last quarter. Summit Trail Advisors LLC grew its position in Cisco Systems by 4,313.3% during the 1st quarter. Summit Trail Advisors LLC now owns 4,814,373 shares of the network equipment provider’s stock valued at $4,814,000 after purchasing an additional 4,705,284 shares during the last quarter. SG Americas Securities LLC grew its position in Cisco Systems by 565.8% during the 1st quarter. SG Americas Securities LLC now owns 4,532,099 shares of the network equipment provider’s stock valued at $194,382,000 after purchasing an additional 3,851,446 shares during the last quarter. Finally, Swedbank grew its position in Cisco Systems by 43.5% during the 4th quarter. Swedbank now owns 12,425,302 shares of the network equipment provider’s stock valued at $475,889,000 after purchasing an additional 3,768,806 shares during the last quarter. 71.65% of the stock is currently owned by institutional investors.

In other news, EVP Mark D. Chandler sold 31,842 shares of the stock in a transaction that occurred 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 SEC, which is available at the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $3,304,000.00. Following the completion of the transaction, the chief financial officer now owns 720,930 shares in the company, valued at approximately $34,027,896. The disclosure for this sale can be found here. Insiders sold a total of 136,842 shares of company stock worth $6,321,392 in the last quarter. Company insiders own 0.05% of the company’s stock.

Shares of NASDAQ:CSCO opened at $47.24 on Friday. Cisco Systems, Inc. has a twelve month low of $31.91 and a twelve month high of $48.06. The company has a current ratio of 2.29, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $225.89 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 2.79 and a beta of 1.06.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share 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 firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s quarterly revenue was up 5.9% on a year-over-year basis. analysts expect that Cisco Systems, Inc. will post 2.65 EPS for the current fiscal year.

Several analysts recently commented on CSCO shares. JPMorgan Chase & Co. set a $58.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research report on Thursday, May 17th. BidaskClub downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 19th. Argus increased their price objective on shares of Cisco Systems to $55.00 and gave the company a “buy” rating in a research report on Friday, May 18th. Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research report on Monday, July 9th. Finally, Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Tuesday, July 17th. Nine 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 company’s stock. Cisco Systems has an average rating of “Buy” and a consensus price target of $47.76.

Cisco Systems 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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