Tiemann Investment Advisors LLC reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.2% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 20,890 shares of the network equipment provider’s stock after selling 925 shares during the period. Tiemann Investment Advisors LLC’s holdings in Cisco Systems were worth $1,143,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of CSCO. Thoroughbred Financial Services LLC lifted its holdings in shares of Cisco Systems by 5,677.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock valued at $361,628,000 after purchasing an additional 3,553,686 shares during the last quarter. APG Asset Management N.V. raised its stake in Cisco Systems by 28.5% during the 4th quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock valued at $422,131,000 after acquiring an additional 2,472,300 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Cisco Systems during the 2nd quarter valued at approximately $125,277,000. Railway Pension Investments Ltd purchased a new stake in Cisco Systems during the 2nd quarter valued at approximately $10,371,000. Finally, Mn Services Vermogensbeheer B.V. raised its stake in Cisco Systems by 241.5% during the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 2,576,627 shares of the network equipment provider’s stock valued at $97,665,000 after acquiring an additional 1,822,091 shares during the last quarter. 72.89% of the stock is owned by institutional investors and hedge funds.
Several research firms have commented on CSCO. Nomura upped their price objective on Cisco Systems from $50.00 to $53.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Barclays began coverage on Cisco Systems in a research note on Wednesday, August 7th. They set an “equal weight” rating and a $52.00 price objective for the company. Royal Bank of Canada reduced their price objective on Cisco Systems from $64.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. set a $62.00 price objective on Cisco Systems and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, ValuEngine downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $56.72.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. The business had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.70 EPS. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.06 earnings per share for the current fiscal year.
In related 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 value of $3,270,400.00. Following the sale, the chief financial officer now owns 277,548 shares in the company, valued at approximately $12,967,042.56. The transaction was disclosed in a legal filing with the SEC, which is accessible 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. Corporate insiders own 0.03% of the company’s stock.
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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