Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 401,484 shares of the network equipment provider’s stock after selling 27,374 shares during the period. Cisco Systems comprises 2.5% of Marco Investment Management LLC’s investment portfolio, making the stock its 6th biggest holding. Marco Investment Management LLC’s holdings in Cisco Systems were worth $21,279,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McCarthy Asset Management Inc. boosted its holdings in shares of Cisco Systems by 87.8% in the 2nd quarter. McCarthy Asset Management Inc. now owns 494 shares of the network equipment provider’s stock valued at $26,000 after buying an additional 231 shares in the last quarter. Lake Point Wealth Management acquired a new position in shares of Cisco Systems in the 2nd quarter valued at $36,000. Stuart Chaussee & Associates Inc. boosted its holdings in shares of Cisco Systems by 43.2% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 716 shares of the network equipment provider’s stock valued at $37,000 after buying an additional 216 shares in the last quarter. Arcadia Investment Management Corp MI boosted its holdings in shares of Cisco Systems by 48.4% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 705 shares of the network equipment provider’s stock valued at $37,000 after buying an additional 230 shares in the last quarter. Finally, ShoreHaven Wealth Partners LLC boosted its stake in Cisco Systems by 55.2% during the 1st quarter. ShoreHaven Wealth Partners LLC now owns 776 shares of the network equipment provider’s stock worth $40,000 after purchasing an additional 276 shares during the period. Institutional investors own 71.92% of the company’s stock.

In related news, CEO Charles Robbins sold 6,543 shares of the firm’s stock in a transaction that occurred on Wednesday, August 25th. The shares were sold at an average price of $59.69, for a total value of $390,551.67. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Prat Bhatt sold 3,518 shares of the firm’s stock in a transaction that occurred on Monday, August 23rd. The stock was sold at an average price of $58.40, for a total transaction of $205,451.20. The disclosure for this sale can be found here. Insiders have sold a total of 64,529 shares of company stock worth $3,827,391 over the last ninety days. 0.02% of the stock is owned by corporate insiders.

NASDAQ CSCO traded down $0.83 during trading hours on Monday, reaching $56.02. The company’s stock had a trading volume of 399,273 shares, compared to its average volume of 19,061,982. The stock has a market cap of $236.28 billion, a PE ratio of 22.53, a PEG ratio of 3.01 and a beta of 0.91. Cisco Systems, Inc. has a fifty-two week low of $35.28 and a fifty-two week high of $60.27. The company’s 50-day moving average is $56.57 and its two-hundred day moving average is $53.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.43 and a current ratio of 1.49.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Tuesday, August 17th. The network equipment provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.01. The firm had revenue of $13.13 billion for the quarter, compared to analysts’ expectations of $13.04 billion. Cisco Systems had a net margin of 21.26% and a return on equity of 30.82%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.80 EPS. Equities analysts expect that Cisco Systems, Inc. will post 3.08 earnings per share for the current fiscal year.

A number of brokerages recently weighed in on CSCO. Citigroup increased their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, August 19th. Wells Fargo & Company increased their price target on shares of Cisco Systems from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, September 9th. Piper Sandler increased their price target on shares of Cisco Systems from $53.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $55.00 to $59.00 and gave the stock a “hold” rating in a research note on Tuesday, August 24th. Finally, The Goldman Sachs Group set a $64.00 price objective on shares of Cisco Systems in a research report on Thursday. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $58.90.

Cisco Systems Company Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

See Also: What is a growth and income fund?

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.