Cisco Systems, Inc. (CSCO) Stake Increased by Cutter & CO Brokerage Inc.

Cutter & CO Brokerage Inc. grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,282 shares of the network equipment provider’s stock after acquiring an additional 720 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Cisco Systems were worth $510,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Boston Partners increased its stake in shares of Cisco Systems by 304.2% in the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after acquiring an additional 23,002,159 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Cisco Systems by 2.4% in the 2nd quarter. Legal & General Group Plc now owns 26,334,633 shares of the network equipment provider’s stock valued at $824,310,000 after acquiring an additional 618,346 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Cisco Systems by 3.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 17,004,668 shares of the network equipment provider’s stock valued at $532,247,000 after acquiring an additional 558,915 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Cisco Systems by 2.4% in the 2nd quarter. Fisher Asset Management LLC now owns 16,076,117 shares of the network equipment provider’s stock valued at $503,182,000 after acquiring an additional 382,211 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Cisco Systems by 2.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 15,423,839 shares of the network equipment provider’s stock valued at $482,766,000 after acquiring an additional 367,104 shares during the last quarter. 75.14% of the stock is owned by institutional investors.

A number of analysts have recently commented on CSCO shares. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research note on Wednesday, November 15th. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $34.13 target price for the company. in a research note on Monday, September 25th. Stifel Nicolaus set a $34.00 target price on Cisco Systems and gave the stock a “hold” rating in a research note on Tuesday, August 15th. BMO Capital Markets reissued a “hold” rating and set a $32.00 target price on shares of Cisco Systems in a research note on Thursday, September 28th. Finally, JMP Securities reissued a “market perform” rating on shares of Cisco Systems in a research note on Friday, August 18th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.73.

Cisco Systems, Inc. (NASDAQ CSCO) opened at $36.49 on Monday. The firm has a market cap of $180,392.78, a P/E ratio of 16.82, a PEG ratio of 3.31 and a beta of 1.15. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $36.97. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The company had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. equities research analysts predict that Cisco Systems, Inc. will post 2.21 earnings per share for the current fiscal year.

In other news, SVP Karen Walker sold 23,110 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $740,906.60. Following the completion of the sale, the senior vice president now owns 192,774 shares of the company’s stock, valued at approximately $6,180,334.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Charles Robbins sold 121,390 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $3,891,763.40. Following the completion of the sale, the chief executive officer now directly owns 552,694 shares of the company’s stock, valued at approximately $17,719,369.64. The disclosure for this sale can be found here. Insiders have sold a total of 235,138 shares of company stock valued at $7,562,574 over the last ninety days. Company insiders own 0.05% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Cisco Systems, Inc. (CSCO) Stake Increased by Cutter & CO Brokerage Inc.” was originally published by Transcript Daily and is the sole property of of Transcript Daily. If you are accessing this article on another publication, it was stolen and reposted in violation of US and international trademark & copyright laws. The correct version of this article can be viewed at https://transcriptdaily.com/2017/11/27/cisco-systems-inc-csco-stake-increased-by-cutter-co-brokerage-inc.html.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply