RPG Investment Advisory LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 6.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 152,220 shares of the network equipment provider's stock after purchasing an additional 9,112 shares during the period. RPG Investment Advisory LLC's holdings in Cisco Systems were worth $8,101,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider's stock valued at $3,340,764,000 after acquiring an additional 1,853,598 shares in the last quarter. Legal & General Group Plc increased its position in Cisco Systems by 3.3% in the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider's stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider's stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares in the last quarter. Swedbank AB acquired a new stake in Cisco Systems in the 1st quarter valued at about $840,538,000. Finally, Price T Rowe Associates Inc. MD increased its position in Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider's stock valued at $691,678,000 after acquiring an additional 2,906,357 shares in the last quarter. 73.33% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on CSCO shares. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $55.00 to $66.00 in a research report on Monday. Citigroup upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $52.00 to $62.00 in a research report on Wednesday, October 16th. HSBC upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Needham & Company LLC restated a "hold" rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Barclays decreased their price objective on shares of Cisco Systems from $50.00 to $49.00 and set an "equal weight" rating for the company in a report on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.32.
Check Out Our Latest Report on CSCO
In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company's stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CFO Richard Scott Herren sold 22,309 shares of the firm's stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the transaction, the chief financial officer now owns 293,184 shares in the company, valued at $14,659,200. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the firm's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company's stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 over the last quarter. 0.01% of the stock is owned by company insiders.
CSCO stock opened at $58.71 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The company's 50-day simple moving average is $53.46 and its 200 day simple moving average is $49.49. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The company has a market capitalization of $234.30 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 4.86 and a beta of 0.83.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the company posted $1.01 earnings per share. Cisco Systems's revenue was down 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Cisco Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cisco Systems wasn't on the list.
While Cisco Systems currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.