Providence Capital Advisors LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, Holdings Channel.com reports. The firm acquired 47,029 shares of the network equipment provider’s stock, valued at approximately $2,574,000. Cisco Systems accounts for 1.5% of Providence Capital Advisors LLC’s holdings, making the stock its 24th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Thoroughbred Financial Services LLC boosted its stake in shares of Cisco Systems by 5,677.4% during the second quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock valued at $361,628,000 after purchasing an additional 3,553,686 shares in the last quarter. APG Asset Management N.V. boosted its holdings in shares of Cisco Systems by 28.5% during the fourth quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after purchasing an additional 2,472,300 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Cisco Systems during the second quarter worth $125,277,000. Railway Pension Investments Ltd purchased a new stake in shares of Cisco Systems in the second quarter valued at $10,371,000. Finally, Mn Services Vermogensbeheer B.V. grew its position in shares of Cisco Systems by 241.5% in the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 2,576,627 shares of the network equipment provider’s stock valued at $97,665,000 after purchasing an additional 1,822,091 shares during the period. Institutional investors own 72.89% of the company’s stock.

CSCO stock traded up $0.82 during midday trading on Wednesday, reaching $50.03. 11,617,811 shares of the company’s stock traded hands, compared to its average volume of 20,889,732. The company has a market capitalization of $206.24 billion, a P/E ratio of 17.55, a PEG ratio of 2.26 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $58.26. The business has a 50-day moving average price of $50.60 and a two-hundred day moving average price of $53.70.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The company had revenue of $13.43 billion during the quarter, compared to analyst estimates of $13.39 billion. During the same quarter in the prior year, the business earned $0.70 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.06 earnings per share for the current fiscal year.

In related news, EVP Mark D. Chandler sold 546 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total value of $3,270,400.00. Following the completion of the transaction, the chief financial officer now directly owns 277,548 shares in the company, valued at $12,967,042.56. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.

Several equities analysts recently weighed in on the company. UBS Group set a $58.00 target price on Cisco Systems and gave the stock a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. set a $62.00 price target on Cisco Systems and gave the company a “buy” rating in a report on Monday, August 12th. William Blair cut Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 price target for the company. in a report on Wednesday, June 12th. Credit Suisse Group set a $50.00 price objective on shares of Cisco Systems and gave the company a “neutral” rating in a research note on Tuesday, August 27th. Finally, Evercore ISI started coverage on shares of Cisco Systems in a report on Wednesday. They set an “outperform” rating and a $60.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $56.72.

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.

Further Reading: Strike Price

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.