KBC Group NV Has $125.02 Million Holdings in Cisco Systems, Inc. $CSCO

KBC Group NV trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.2% in the second quarter, Holdings Channel reports. The fund owned 1,802,016 shares of the network equipment provider’s stock after selling 226,646 shares during the period. KBC Group NV’s holdings in Cisco Systems were worth $125,024,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of CSCO. Drive Wealth Management LLC lifted its stake in Cisco Systems by 2.7% in the 2nd quarter. Drive Wealth Management LLC now owns 16,605 shares of the network equipment provider’s stock valued at $1,152,000 after acquiring an additional 436 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its stake in Cisco Systems by 0.7% in 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 buying an additional 6,501 shares during the last quarter. Shell Asset Management Co. boosted its stake in shares of 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 buying an additional 26,840 shares during the last quarter. Guinness Asset Management LTD grew its holdings in shares of Cisco Systems by 15.9% in the 2nd quarter. Guinness Asset Management LTD now owns 4,389,728 shares of the network equipment provider’s stock valued at $304,451,000 after acquiring an additional 603,131 shares in the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Cisco Systems by 255.9% in 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 acquiring an additional 5,622,672 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CSCO. Barclays increased their price target on Cisco Systems from $66.00 to $71.00 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. UBS Group raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $74.00 to $88.00 in a research note on Monday, November 3rd. Weiss Ratings restated a “buy (b)” rating on shares of Cisco Systems in a report on Thursday, October 30th. Morgan Stanley increased their price target on shares of Cisco Systems from $73.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, October 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $75.00 to $83.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $75.50.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 7,511 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $66.84, for a total transaction of $502,035.24. Following the completion of the sale, the executive vice president owned 161,467 shares of the company’s stock, valued at $10,792,454.28. This represents a 4.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,783 shares of the firm’s stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $66.60, for a total transaction of $651,547.80. Following the completion of the transaction, the executive vice president directly owned 161,662 shares in the company, valued at approximately $10,766,689.20. This represents a 5.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 82,965 shares of company stock valued at $5,559,996 over the last 90 days. 0.01% of the stock is owned by company insiders.

Cisco Systems Trading Down 0.5%

Shares of CSCO stock opened at $71.71 on Wednesday. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $74.84. The company has a market capitalization of $282.59 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 3.00 and a beta of 0.95. The firm has a 50 day moving average price of $69.33 and a two-hundred day moving average price of $67.16. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.49.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $14.67 billion for the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a return on equity of 27.06% and a net margin of 18.45%.The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

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.