Amalgamated Bank Increases Holdings in Cisco Systems, Inc. (CSCO)
Amalgamated Bank boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 59.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 565,318 shares of the network equipment provider’s stock after purchasing an additional 211,464 shares during the period. Amalgamated Bank’s holdings in Cisco Systems were worth $17,694,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Cisco Systems in the second quarter worth about $231,000. Barnett & Company Inc. raised its stake in shares of Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares during the period. Tortoise Investment Management LLC raised its stake in shares of Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares during the period. Manchester Capital Management LLC raised its stake in shares of Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after buying an additional 350 shares during the period. Finally, Watermark Asset Management Inc. bought a new position in shares of Cisco Systems in the first quarter worth about $122,000. 75.79% of the stock is currently owned by institutional investors and hedge funds.
CSCO has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Wednesday, November 15th. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 price objective on the stock. in a research note on Monday, September 25th. Stifel Nicolaus set a $34.00 price objective on Cisco Systems and gave the stock a “hold” rating in a research note on Tuesday, August 15th. BMO Capital Markets reaffirmed a “hold” rating and issued a $32.00 price objective on shares of Cisco Systems in a research note on Thursday, September 28th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a research note on Friday, August 18th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and an average target price of $36.90.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.01. The business had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. equities analysts forecast that Cisco Systems, Inc. will post 2.21 earnings per share for the current fiscal year.
In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the completion of the transaction, the insider now owns 712,736 shares in the company, valued at approximately $26,014,864. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the transaction, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. Insiders have sold a total of 493,530 shares of company stock valued at $16,993,798 in the last 90 days. 0.05% of the stock is currently owned by company insiders.
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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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