Cisco Systems, Inc. (CSCO) Position Raised by Ipswich Investment Management Co. Inc.
Ipswich Investment Management Co. Inc. raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 14.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 14,285 shares of the network equipment provider’s stock after buying an additional 1,800 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Cisco Systems were worth $447,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Financial Management Professionals Inc. boosted its stake in shares of Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after buying an additional 635 shares during the last quarter. Watermark Asset Management Inc. purchased a new stake in shares of Cisco Systems during the first quarter valued at approximately $122,000. Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its stake in shares of Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after buying an additional 560 shares during the last quarter. Baystate Wealth Management LLC boosted its stake in shares of Cisco Systems by 24.5% in the first quarter. Baystate Wealth Management LLC now owns 7,537 shares of the network equipment provider’s stock valued at $146,000 after buying an additional 1,484 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. boosted its stake in shares of Cisco Systems by 23.1% in the first quarter. Riggs Asset Managment Co. Inc. now owns 4,393 shares of the network equipment provider’s stock valued at $148,000 after buying an additional 823 shares during the last quarter. Institutional investors and hedge funds own 74.68% of the company’s stock.
Cisco Systems, Inc. (CSCO) traded up 0.8615% on Thursday, hitting $32.2656. The stock had a trading volume of 11,851,276 shares. Cisco Systems, Inc. has a 12-month low of $29.12 and a 12-month high of $34.60. The firm has a market cap of $161.10 billion, a PE ratio of 16.9819 and a beta of 1.24. The company’s 50 day moving average is $31.47 and its 200 day moving average is $32.56.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. The company had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current fiscal year.
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CSCO has been the subject of several research reports. Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Morgan Stanley upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $33.45 to $39.00 in a research report on Monday, May 15th. Credit Suisse Group reiterated an “outperform” rating and set a $40.00 price target on shares of Cisco Systems in a research report on Monday, June 26th. William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research report on Monday, July 3rd. Finally, Wunderlich boosted their price target on Cisco Systems from $30.00 to $33.00 and gave the stock a “hold” rating in a research report on Friday, June 30th. Fifteen investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $35.47.
In related news, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the transaction, the senior vice president now owns 271,725 shares in the company, valued at $8,616,399.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the transaction, the insider now owns 729,305 shares in the company, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 350,642 shares of company stock worth $10,973,081. 0.11% of the stock is currently owned by insiders.
Cisco Systems Company Profile
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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