Cisco Systems, Inc. (NASDAQ:CSCO) Position Boosted by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the 1st quarter, HoldingsChannel.com reports. The firm owned 578,248 shares of the network equipment provider’s stock after purchasing an additional 4,598 shares during the period. Mutual of America Capital Management LLC’s holdings in Cisco Systems were worth $22,731,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CSCO. Norges Bank bought a new position in Cisco Systems during the fourth quarter valued at approximately $2,297,257,000. BlackRock Inc. grew its stake in shares of Cisco Systems by 1.9% in the first quarter. BlackRock Inc. now owns 323,155,278 shares of the network equipment provider’s stock worth $12,703,234,000 after acquiring an additional 5,966,755 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Cisco Systems by 40.8% in the 4th quarter. Franklin Resources Inc. now owns 17,869,145 shares of the network equipment provider’s stock valued at $857,003,000 after purchasing an additional 5,176,828 shares in the last quarter. FMR LLC boosted its stake in shares of Cisco Systems by 13.1% in the 4th quarter. FMR LLC now owns 36,607,406 shares of the network equipment provider’s stock valued at $1,755,691,000 after purchasing an additional 4,244,954 shares in the last quarter. Finally, Parnassus Investments CA raised its holdings in shares of Cisco Systems by 45.0% in the fourth quarter. Parnassus Investments CA now owns 13,052,288 shares of the network equipment provider’s stock valued at $625,988,000 after buying an additional 4,048,406 shares during the last quarter. Institutional investors own 70.94% of the company’s stock.

NASDAQ:CSCO traded up $0.26 during trading hours on Friday, hitting $44.90. The company’s stock had a trading volume of 12,395,086 shares, compared to its average volume of 23,230,478. The stock has a fifty day simple moving average of $42.08 and a 200-day simple moving average of $44.21. The company has a market capitalization of $188.48 billion, a P/E ratio of 17.82, a PEG ratio of 2.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 1.55. Cisco Systems, Inc. has a twelve month low of $32.40 and a twelve month high of $58.26.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.10. The business had revenue of $11.98 billion for the quarter, compared to analyst estimates of $11.87 billion. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. During the same period last year, the firm posted $0.78 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.

A number of brokerages have recently commented on CSCO. UBS Group lowered their price target on Cisco Systems from $54.00 to $51.00 and set a “buy” rating for the company in a research note on Thursday, May 14th. Nomura upped their price target on Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Credit Suisse Group upped their price target on Cisco Systems from $40.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. MKM Partners upped their price objective on Cisco Systems from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, Bank of America restated a “hold” rating and issued a $44.00 price target on shares of Cisco Systems in a research note on Thursday, May 14th. Sixteen investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.13.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $41.17, for a total value of $2,881,900.00. Following the completion of the transaction, the chief financial officer now directly owns 308,241 shares in the company, valued at $12,690,281.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.03% of the stock is currently owned by company insiders.

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

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