Shoker Investment Counsel Inc. reduced its holdings in Cisco Systems (NASDAQ:CSCO) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,669 shares of the network equipment provider’s stock after selling 2,052 shares during the period. Cisco Systems makes up about 1.6% of Shoker Investment Counsel Inc.’s investment portfolio, making the stock its 16th biggest position. Shoker Investment Counsel Inc.’s holdings in Cisco Systems were worth $2,247,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Rothschild Investment Corp IL lifted its holdings in Cisco Systems by 1.9% in the fourth quarter. Rothschild Investment Corp IL now owns 297,112 shares of the network equipment provider’s stock valued at $11,379,000 after buying an additional 5,517 shares during the period. Pzena Investment Management LLC lifted its holdings in Cisco Systems by 0.4% in the third quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock valued at $84,648,000 after buying an additional 10,265 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. lifted its holdings in Cisco Systems by 320.0% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 126,000 shares of the network equipment provider’s stock valued at $4,825,000 after buying an additional 96,000 shares during the period. Mizuho Securities USA LLC lifted its holdings in Cisco Systems by 20.9% in the fourth quarter. Mizuho Securities USA LLC now owns 18,506 shares of the network equipment provider’s stock valued at $709,000 after buying an additional 3,199 shares during the period. Finally, Spectrum Management Group Inc. lifted its holdings in Cisco Systems by 4.4% in the third quarter. Spectrum Management Group Inc. now owns 76,045 shares of the network equipment provider’s stock valued at $2,557,000 after buying an additional 3,182 shares during the period. Institutional investors and hedge funds own 77.40% of the company’s stock.
In other news, Director M Michele Burns sold 12,126 shares of Cisco Systems stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $45.37, for a total value of $550,156.62. Following the completion of the transaction, the director now owns 74,479 shares of the company’s stock, valued at approximately $3,379,112.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Goeckeler sold 20,671 shares of Cisco Systems stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $45.50, for a total transaction of $940,530.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,986 shares of company stock valued at $2,116,422. 0.05% of the stock is owned by insiders.
CSCO has been the topic of several analyst reports. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. KeyCorp reiterated an “overweight” rating and issued a $43.00 target price (up from $39.00) on shares of Cisco Systems in a report on Friday, January 19th. Loop Capital initiated coverage on shares of Cisco Systems in a report on Monday, January 29th. They issued a “hold” rating and a $45.00 target price on the stock. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $44.13 target price on the stock in a report on Tuesday, January 30th. Finally, ValuEngine upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $45.23.
Cisco Systems stock opened at $43.46 on Friday. The firm has a market capitalization of $217.56 billion, a P/E ratio of 19.81, a price-to-earnings-growth ratio of 3.23 and a beta of 1.14. Cisco Systems has a 1-year low of $45.14 and a 1-year high of $45.54. The company has a quick ratio of 2.38, a current ratio of 2.43 and a debt-to-equity ratio of 0.49.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.01. The business had revenue of $12.46 billion during the quarter, compared to the consensus estimate of $12.42 billion. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 18.32%. During the same quarter last year, the firm earned $0.60 earnings per share. research analysts anticipate that Cisco Systems will post 2.33 earnings per share for the current year.
Cisco Systems declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the network equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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