M&G PLC Sells 103,031 Shares of Cisco Systems, Inc. $CSCO

M&G PLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 559,149 shares of the network equipment provider’s stock after selling 103,031 shares during the period. M&G PLC’s holdings in Cisco Systems were worth $38,581,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in CSCO. Drive Wealth Management LLC boosted its position in Cisco Systems by 2.7% in the second quarter. Drive Wealth Management LLC now owns 16,605 shares of the network equipment provider’s stock valued at $1,152,000 after buying an additional 436 shares in the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Cisco Systems by 0.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider’s stock valued at $55,049,000 after acquiring an additional 6,501 shares in the last quarter. Shell Asset Management Co. grew its position in Cisco Systems by 53.3% during the 2nd quarter. Shell Asset Management Co. now owns 77,234 shares of the network equipment provider’s stock worth $5,358,000 after acquiring an additional 26,840 shares during the last quarter. Guinness Asset Management LTD raised its position in Cisco Systems by 15.9% in the second quarter. Guinness Asset Management LTD now owns 4,389,728 shares of the network equipment provider’s stock valued at $304,451,000 after purchasing an additional 603,131 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Cisco Systems by 255.9% during the first quarter. Acadian Asset Management LLC now owns 7,819,547 shares of the network equipment provider’s stock valued at $482,509,000 after purchasing an additional 5,622,672 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $71.71 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 0.91 and a debt-to-equity ratio of 0.49. The company has a fifty day simple moving average of $69.33 and a 200 day simple moving average of $67.16. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $74.84. The company has a market cap of $282.59 billion, a P/E ratio of 27.37, a PEG ratio of 3.00 and a beta of 0.95.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The firm had revenue of $14.67 billion during the quarter, compared to analysts’ expectations of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.06%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $0.87 earnings per share. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Charles Robbins sold 30,557 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $66.63, for a total transaction of $2,036,012.91. Following the completion of the sale, the chief executive officer owned 639,000 shares in the company, valued at approximately $42,576,570. This represents a 4.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Oliver Tuszik sold 17,526 shares of Cisco Systems stock in a transaction on Friday, September 19th. The stock was sold at an average price of $67.95, for a total transaction of $1,190,891.70. Following the transaction, the executive vice president directly owned 198,855 shares in the company, valued at $13,512,197.25. This represents a 8.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 82,965 shares of company stock valued at $5,559,996. 0.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Cisco Systems from $75.00 to $83.00 and gave the company an “overweight” rating in a research note on Thursday, August 14th. Rosenblatt Securities restated a “buy” rating and issued a $87.00 price target on shares of Cisco Systems in a research report on Thursday, August 14th. Hsbc Global Res cut shares of Cisco Systems from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Bank of America boosted their target price on shares of Cisco Systems from $76.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, August 14th. Finally, Evercore ISI raised their price objective on shares of Cisco Systems from $72.00 to $74.00 and gave the stock an “in-line” rating in a research report on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $75.50.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.