Cisco Systems Inc. (CSCO) is Randolph Co Inc’s 6th Largest Position
Randolph Co Inc held its stake in shares of Cisco Systems Inc. (NASDAQ:CSCO) during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 627,975 shares of the network equipment provider’s stock at the end of the third quarter. Cisco Systems comprises about 5.0% of Randolph Co Inc’s investment portfolio, making the stock its 6th largest position. Randolph Co Inc’s holdings in Cisco Systems were worth $19,919,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Princeton Portfolio Strategies Group LLC raised its stake in Cisco Systems by 12.2% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 46,285 shares of the network equipment provider’s stock valued at $1,318,000 after buying an additional 5,041 shares during the last quarter. Bayesian Capital Management LP acquired a new stake in Cisco Systems during the first quarter valued at approximately $675,000. Wealthsource Partners LLC acquired a new stake in Cisco Systems during the first quarter valued at approximately $614,000. Edgar Lomax Co. VA raised its stake in Cisco Systems by 12.1% in the first quarter. Edgar Lomax Co. VA now owns 1,560,150 shares of the network equipment provider’s stock valued at $44,417,000 after buying an additional 167,950 shares during the last quarter. Finally, Pinnacle Holdings LLC raised its stake in Cisco Systems by 0.5% in the first quarter. Pinnacle Holdings LLC now owns 16,009 shares of the network equipment provider’s stock valued at $456,000 after buying an additional 81 shares during the last quarter. 74.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.251% during trading on Wednesday, reaching $29.905. 5,801,765 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $30.55 and its 200 day moving average price is $30.16. The firm has a market capitalization of $150.12 billion, a PE ratio of 14.309 and a beta of 1.42. Cisco Systems Inc. has a 52 week low of $22.46 and a 52 week high of $31.95.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.02. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The business had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.34 billion. During the same quarter last year, the company earned $0.59 EPS. The company’s revenue for the quarter was down 2.6% compared to the same quarter last year. Analysts predict that Cisco Systems Inc. will post $2.37 EPS for the current fiscal year.
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Several equities research analysts have commented on CSCO shares. Citigroup Inc. reaffirmed a “buy” rating and issued a $35.00 price target on shares of Cisco Systems in a report on Thursday, August 18th. Jefferies Group upped their price objective on shares of Cisco Systems from $30.75 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, August 17th. Drexel Hamilton reiterated a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research report on Tuesday, August 16th. Deutsche Bank AG reiterated a “buy” rating and issued a $35.00 price objective on shares of Cisco Systems in a research report on Thursday, August 18th. Finally, Argus upped their price objective on shares of Cisco Systems from $34.00 to $37.00 and gave the stock a “buy” rating in a research report on Friday, August 19th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and an average price target of $32.73.
In related news, SVP Mark D. Chandler sold 62,910 shares of the stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $31.40, for a total value of $1,975,374.00. Following the sale, the senior vice president now owns 286,628 shares of the company’s stock, valued at approximately $9,000,119.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 148,800 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $31.01, for a total transaction of $4,614,288.00. Following the completion of the sale, the chief executive officer now directly owns 629,813 shares in the company, valued at approximately $19,530,501.13. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.
Cisco Systems Company Profile
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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