Cisco Systems, Inc. (CSCO) Shares Sold by Wheatland Advisors Inc.
Wheatland Advisors Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,791 shares of the network equipment provider’s stock after selling 2,341 shares during the period. Cisco Systems makes up about 2.6% of Wheatland Advisors Inc.’s holdings, making the stock its 10th largest position. Wheatland Advisors Inc.’s holdings in Cisco Systems were worth $2,900,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pegasus Partners Ltd. raised its position in shares of Cisco Systems by 0.8% in the fourth quarter. Pegasus Partners Ltd. now owns 127,048 shares of the network equipment provider’s stock worth $3,839,000 after buying an additional 1,021 shares during the last quarter. Teachers Advisors LLC raised its position in shares of Cisco Systems by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 12,454,978 shares of the network equipment provider’s stock worth $376,389,000 after buying an additional 364,350 shares during the last quarter. Kentucky Retirement Systems purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $11,008,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Cisco Systems during the fourth quarter worth approximately $4,911,000. Finally, Philadelphia Trust Co. raised its position in shares of Cisco Systems by 23.7% in the fourth quarter. Philadelphia Trust Co. now owns 17,666 shares of the network equipment provider’s stock worth $534,000 after buying an additional 3,380 shares during the last quarter. Institutional investors and hedge funds own 75.28% of the company’s stock.
Cisco Systems, Inc. (NASDAQ:CSCO) traded up 0.64% during midday trading on Friday, hitting $31.44. The stock had a trading volume of 19,558,253 shares. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60. The company’s 50 day moving average price is $31.47 and its 200-day moving average price is $32.56. The stock has a market capitalization of $156.98 billion, a price-to-earnings ratio of 16.55 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period last year, the business earned $0.63 earnings per share. The business’s revenue was down 4.0% on a year-over-year basis. Equities analysts anticipate that Cisco Systems, Inc. will post $2.43 earnings per share for the current fiscal year.
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A number of research analysts recently commented on CSCO shares. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research note on Monday, May 1st. BMO Capital Markets lowered Cisco Systems from an “outperform” rating to a “market perform” rating and cut their target price for the company from $37.00 to $35.00 in a research note on Tuesday, May 9th. Royal Bank Of Canada restated an “outperform” rating and issued a $36.00 target price (down from $37.00) on shares of Cisco Systems in a research note on Friday, May 12th. Morgan Stanley upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $33.45 to $39.00 in a research note on Monday, May 15th. Finally, Zacks Investment Research lowered Cisco Systems from a “hold” rating to a “sell” rating in a research note on Monday, May 15th. Fourteen analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $35.47.
In other news, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the transaction, the senior vice president now directly owns 271,725 shares in the company, valued at $8,616,399.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the transaction, the insider now owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The disclosure for this sale can be found here. Insiders have sold 350,642 shares of company stock valued at $10,973,081 over the last quarter. Company insiders own 0.11% of the company’s stock.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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