First Mercantile Trust Co. reduced its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 11.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 180,516 shares of the network equipment provider’s stock after selling 24,115 shares during the period. Cisco Systems makes up approximately 0.8% of First Mercantile Trust Co.’s portfolio, making the stock its 17th largest position. First Mercantile Trust Co.’s holdings in Cisco Systems were worth $5,717,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in the stock. Riggs Asset Managment Co. Inc. increased its stake in shares of Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock worth $102,000 after buying an additional 225 shares during the last quarter. Lenox Wealth Management Inc. raised its stake in Cisco Systems by 35.0% in the second quarter. Lenox Wealth Management Inc. now owns 3,835 shares of the network equipment provider’s stock worth $110,000 after buying an additional 995 shares in the last quarter. Global X Management Co. LLC raised its stake in Cisco Systems by 101.9% in the second quarter. Global X Management Co. LLC now owns 4,244 shares of the network equipment provider’s stock worth $122,000 after buying an additional 2,142 shares in the last quarter. Financial Management Professionals Inc. raised its stake in Cisco Systems by 25.7% in the second quarter. Financial Management Professionals Inc. now owns 4,389 shares of the network equipment provider’s stock worth $125,000 after buying an additional 896 shares in the last quarter. Finally, West Oak Capital LLC raised its stake in Cisco Systems by 19.1% in the third quarter. West Oak Capital LLC now owns 4,052 shares of the network equipment provider’s stock worth $129,000 after buying an additional 651 shares in the last quarter. Hedge funds and other institutional investors own 74.29% of the company’s stock.

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

Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.07% on Wednesday, hitting $29.85. The company’s stock had a trading volume of 25,734,668 shares. Cisco Systems Inc. has a 12 month low of $22.46 and a 12 month high of $31.95. The firm has a 50 day moving average of $30.55 and a 200-day moving average of $30.16. The stock has a market cap of $149.84 billion, a PE ratio of 14.28 and a beta of 1.42.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.02. The company earned $12.35 billion during the quarter, compared to analysts’ expectations of $12.34 billion. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.59 earnings per share. On average, analysts expect that Cisco Systems Inc. will post $2.37 earnings per share for the current fiscal year.

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A number of analysts have commented on the stock. RBC Capital Markets reaffirmed an “outperform” rating and set a $35.00 price objective on shares of Cisco Systems in a research note on Wednesday. Zacks Investment Research lowered shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday. FBN Securities set a $35.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Saturday, November 19th. Stifel Nicolaus assumed coverage on shares of Cisco Systems in a research note on Friday, November 18th. They set a “hold” rating and a $34.00 price objective for the company. Finally, Deutsche Bank AG set a $37.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Thursday, November 17th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $32.73.

In related news, CEO Charles Robbins sold 148,800 shares of the firm’s stock in a transaction that occurred on 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 owns 629,813 shares of the company’s stock, valued at $19,530,501.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Karen Walker sold 10,244 shares of the firm’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $31.17, for a total value of $319,305.48. Following the sale, the senior vice president now directly owns 138,625 shares of the company’s stock, valued at approximately $4,320,941.25. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.

About Cisco Systems

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.

5 Day Chart for NASDAQ:CSCO

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