Thompson Investment Management Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 197,273 shares of the network equipment provider’s stock after selling 38,122 shares during the quarter. Cisco Systems accounts for about 2.0% of Thompson Investment Management Inc.’s portfolio, making the stock its 10th largest position. Thompson Investment Management Inc.’s holdings in Cisco Systems were worth $8,548,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Financial Gravity Companies Inc. purchased a new stake in Cisco Systems during the 4th quarter valued at about $579,000. Raab & Moskowitz Asset Management LLC raised its holdings in Cisco Systems by 23.5% in the 4th quarter. Raab & Moskowitz Asset Management LLC now owns 15,780 shares of the network equipment provider’s stock worth $683,000 after purchasing an additional 3,003 shares during the period. Spinnaker Trust raised its holdings in Cisco Systems by 0.6% in the 4th quarter. Spinnaker Trust now owns 160,557 shares of the network equipment provider’s stock worth $6,956,000 after purchasing an additional 939 shares during the period. Pinnacle Financial Partners Inc. raised its holdings in Cisco Systems by 1.6% in the 4th quarter. Pinnacle Financial Partners Inc. now owns 74,564 shares of the network equipment provider’s stock worth $3,231,000 after purchasing an additional 1,194 shares during the period. Finally, Buckingham Capital Management Inc. raised its holdings in Cisco Systems by 1.5% in the 4th quarter. Buckingham Capital Management Inc. now owns 39,178 shares of the network equipment provider’s stock worth $1,698,000 after purchasing an additional 571 shares during the period. Hedge funds and other institutional investors own 66.31% of the company’s stock.

Shares of CSCO stock traded down $0.51 during trading hours on Wednesday, reaching $53.42. The company had a trading volume of 405,669 shares, compared to its average volume of 22,634,000. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.64. The firm has a market capitalization of $261.93 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 2.78 and a beta of 1.21. Cisco Systems, Inc. has a 12-month low of $40.25 and a 12-month high of $57.53.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $12.96 billion during the quarter, compared to analyst estimates of $12.89 billion. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.66 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.8 EPS for the current year.

Cisco Systems announced that its board has initiated a share repurchase plan on Wednesday, February 13th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

A number of brokerages have commented on CSCO. Goldman Sachs Group cut Cisco Systems from a “conviction-buy” rating to a “buy” rating and increased their target price for the company from $58.00 to $62.00 in a report on Tuesday, April 16th. Jefferies Financial Group increased their target price on Cisco Systems from $55.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, May 16th. They noted that the move was a valuation call. Bank of America set a $62.00 target price on Cisco Systems and gave the company a “buy” rating in a report on Thursday, May 16th. Morgan Stanley increased their target price on Cisco Systems from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Finally, William Blair reissued an “outperform” rating on shares of Cisco Systems in a report on Thursday, May 16th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.87.

In other news, EVP Mark D. Chandler sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $55.79, for a total value of $209,212.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $51.70, for a total value of $3,619,000.00. Following the completion of the sale, the chief financial officer now owns 420,696 shares of the company’s stock, valued at $21,749,983.20. The disclosure for this sale can be found here. Insiders sold 103,750 shares of company stock valued at $5,390,313 over the last 90 days. Company insiders own 0.03% of the company’s stock.

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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.

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

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