Providence Capital Advisors LLC bought a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 47,029 shares of the network equipment provider’s stock, valued at approximately $2,574,000. Cisco Systems accounts for approximately 1.5% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 24th largest holding.
Several other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. Old Port Advisors acquired a new stake in shares of Cisco Systems during the fourth quarter valued at about $1,958,000. Gamco Investors INC. ET AL boosted its stake in shares of Cisco Systems by 3.2% in the 4th quarter. Gamco Investors INC. ET AL now owns 38,150 shares of the network equipment provider’s stock worth $1,653,000 after buying an additional 1,200 shares during the last quarter. Palo Capital Inc. lifted its holdings in Cisco Systems by 1.7% in the fourth quarter. Palo Capital Inc. now owns 31,380 shares of the network equipment provider’s stock valued at $1,360,000 after acquiring an additional 537 shares during the period. Regentatlantic Capital LLC grew its stake in shares of Cisco Systems by 0.7% during the 4th quarter. Regentatlantic Capital LLC now owns 224,113 shares of the network equipment provider’s stock valued at $9,711,000 after purchasing an additional 1,619 shares during the period. Finally, Miles Capital Inc. boosted its holdings in shares of Cisco Systems by 5.1% in the fourth quarter. Miles Capital Inc. now owns 9,647 shares of the network equipment provider’s stock worth $418,000 after buying an additional 469 shares during the last quarter. Institutional investors own 72.89% of the company’s stock.
In other news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $46.72, for a total transaction of $3,270,400.00. Following the sale, the chief financial officer now directly owns 277,548 shares of the company’s stock, valued at approximately $12,967,042.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark D. Chandler sold 546 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $47.92, for a total value of $26,164.32. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.
A number of equities analysts recently commented on CSCO shares. Jefferies Financial Group raised their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. They noted that the move was a valuation call. BidaskClub lowered shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 31st. KeyCorp reduced their price objective on shares of Cisco Systems from $60.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Nomura increased their price objective on shares of Cisco Systems from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Finally, Evercore ISI began coverage on shares of Cisco Systems in a research report on Wednesday. They set an “outperform” rating and a $60.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $56.72.
Shares of NASDAQ:CSCO traded up $0.82 during midday trading on Wednesday, reaching $50.03. 11,617,811 shares of the company were exchanged, compared to its average volume of 20,889,732. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The business’s fifty day moving average is $50.60 and its two-hundred day moving average is $53.70. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $58.26. The stock has a market cap of $206.24 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 2.26 and a beta of 1.26.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The company had revenue of $13.43 billion for the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. Cisco Systems’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.70 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.06 EPS 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 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.
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