Benjamin F. Edwards & Company Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 51,877 shares of the network equipment provider’s stock after selling 8,004 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Cisco Systems were worth $2,248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Holderness Investments Co. raised its stake in Cisco Systems by 2.3% in the third quarter. Holderness Investments Co. now owns 68,710 shares of the network equipment provider’s stock worth $3,343,000 after buying an additional 1,576 shares in the last quarter. Johnson Financial Group Inc. raised its stake in Cisco Systems by 12.1% in the third quarter. Johnson Financial Group Inc. now owns 142,844 shares of the network equipment provider’s stock worth $6,950,000 after buying an additional 15,389 shares in the last quarter. PDS Planning Inc raised its stake in Cisco Systems by 35.6% in the third quarter. PDS Planning Inc now owns 5,085 shares of the network equipment provider’s stock worth $247,000 after buying an additional 1,336 shares in the last quarter. Oakwood Capital Management LLC CA raised its stake in Cisco Systems by 7.1% in the third quarter. Oakwood Capital Management LLC CA now owns 166,375 shares of the network equipment provider’s stock worth $8,094,000 after buying an additional 11,043 shares in the last quarter. Finally, Truewealth LLC raised its stake in Cisco Systems by 6.7% in the fourth quarter. Truewealth LLC now owns 14,170 shares of the network equipment provider’s stock worth $614,000 after buying an additional 890 shares in the last quarter. Institutional investors and hedge funds own 69.04% of the company’s stock.

In other news, EVP David Goeckeler sold 30,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the sale, the executive vice president now owns 419,439 shares in the company, valued at $21,840,188.73. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Roderick C. Mcgeary sold 15,000 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $49.66, for a total transaction of $744,900.00. Following the sale, the director now owns 102,898 shares in the company, valued at approximately $5,109,914.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,000 shares of company stock worth $5,926,000. Corporate insiders own 0.03% of the company’s stock.

Shares of NASDAQ CSCO opened at $56.35 on Monday. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $57.53. The company has a market cap of $271.47 billion, a price-to-earnings ratio of 24.08, a price-to-earnings-growth ratio of 2.93 and a beta of 1.21. The company has a quick ratio of 1.74, a current ratio of 1.69 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The firm had revenue of $12.96 billion for the quarter, compared to analysts’ expectations of $12.89 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.76 EPS for the current year.

Cisco Systems announced that its board has approved a share buyback plan on Wednesday, February 13th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire up to 6.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

A number of equities analysts recently issued reports on CSCO shares. Citigroup increased their price target on shares of Cisco Systems from $52.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, February 14th. Credit Suisse Group increased their price target on shares of Cisco Systems from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. William Blair reissued an “outperform” rating on shares of Cisco Systems in a research note on Thursday. Goldman Sachs Group downgraded shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and raised their target price for the company from $58.00 to $62.00 in a research note on Tuesday, April 16th. Finally, Bank of America set a $62.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research note on Thursday. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and an average target price of $55.52.

COPYRIGHT VIOLATION WARNING: This piece of content was originally posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece of content on another website, it was stolen and republished in violation of international copyright and trademark laws. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2019/05/20/benjamin-f-edwards-company-inc-has-2-25-million-holdings-in-cisco-systems-inc-csco.html.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Featured Article: Why are analyst ratings important in trading stocks?

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.