Carnegie Capital Asset Management LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 21.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 357,059 shares of the network equipment provider’s stock after selling 94,697 shares during the period. Cisco Systems comprises about 1.4% of Carnegie Capital Asset Management LLC’s investment portfolio, making the stock its 12th largest position. Carnegie Capital Asset Management LLC’s holdings in Cisco Systems were worth $11,253,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Barnett & Company Inc. lifted its stake in 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 acquiring an additional 3,023 shares during the period. Tortoise Investment Management LLC lifted its stake in 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 acquiring an additional 878 shares during the period. Grove Bank & Trust lifted its stake in Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after acquiring an additional 2,120 shares during the period. Manchester Capital Management LLC lifted its stake in 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 acquiring an additional 350 shares during the period. Finally, Ffcm LLC lifted its stake in Cisco Systems by 2,025.0% in the second quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock worth $117,000 after acquiring an additional 3,564 shares during the period. Hedge funds and other institutional investors own 75.79% of the company’s stock.

In other news, CEO Charles Robbins sold 121,390 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the transaction, the chief executive officer now owns 552,694 shares in the company, valued at $17,719,369.64. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Karen Walker sold 23,110 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $740,906.60. Following the transaction, the senior vice president now owns 192,774 shares in the company, valued at approximately $6,180,334.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 493,530 shares of company stock worth $16,993,798. Corporate insiders own 0.05% of the company’s stock.

Cisco Systems, Inc. (CSCO) opened at $37.61 on Monday. Cisco Systems, Inc. has a fifty-two week low of $29.73 and a fifty-two week high of $38.03. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. The stock has a market cap of $185,930.00, a PE ratio of 17.33, a PEG ratio of 3.40 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. sell-side analysts forecast that Cisco Systems, Inc. will post 2.21 EPS for the current year.

A number of analysts recently weighed in on CSCO shares. Drexel Hamilton reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Cisco Systems in a research note on Tuesday, August 15th. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price objective for the company. in a research note on Wednesday, August 16th. BidaskClub raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Stifel Nicolaus set a $34.00 price objective on shares of Cisco Systems and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Finally, Cowen reaffirmed an “outperform” rating and issued a $39.00 price objective on shares of Cisco Systems in a research note on Wednesday, August 16th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and an average target price of $36.90.

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

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