Lannebo Fonder AB Increases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Lannebo Fonder AB lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 25.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 270,769 shares of the network equipment provider’s stock after buying an additional 55,000 shares during the quarter. Cisco Systems makes up approximately 3.0% of Lannebo Fonder AB’s portfolio, making the stock its 16th biggest position. Lannebo Fonder AB’s holdings in Cisco Systems were worth $10,644,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CSCO. Financial Advocates Investment Management grew its holdings in Cisco Systems by 0.5% during the 4th quarter. Financial Advocates Investment Management now owns 40,313 shares of the network equipment provider’s stock valued at $1,933,000 after buying an additional 204 shares during the last quarter. Alexandria Capital LLC raised its holdings in shares of Cisco Systems by 0.4% in the fourth quarter. Alexandria Capital LLC now owns 51,487 shares of the network equipment provider’s stock worth $2,469,000 after acquiring an additional 210 shares during the last quarter. Noesis Capital Mangement Corp lifted its position in shares of Cisco Systems by 2.5% in the fourth quarter. Noesis Capital Mangement Corp now owns 9,140 shares of the network equipment provider’s stock valued at $438,000 after acquiring an additional 227 shares in the last quarter. SNS Financial Group LLC boosted its stake in shares of Cisco Systems by 1.2% during the fourth quarter. SNS Financial Group LLC now owns 18,835 shares of the network equipment provider’s stock valued at $903,000 after acquiring an additional 230 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. increased its position in Cisco Systems by 4.6% during the 4th quarter. Jackson Grant Investment Advisers Inc. now owns 5,299 shares of the network equipment provider’s stock worth $254,000 after purchasing an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 70.94% of the company’s stock.

Shares of CSCO stock traded up $0.26 during mid-day trading on Friday, reaching $44.90. 12,395,086 shares of the company were exchanged, compared to its average volume of 23,230,478. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.55 and a current ratio of 1.59. The business’s 50 day simple moving average is $42.08 and its 200 day simple moving average is $44.21. The company has a market capitalization of $188.48 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.89 and a beta of 0.97. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $58.26.

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

In related news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.03% of the company’s stock.

Several research firms have issued reports on CSCO. MKM Partners raised their price target on shares of Cisco Systems from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Piper Sandler raised their target price on shares of Cisco Systems from $42.00 to $44.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Raymond James boosted their price target on Cisco Systems from $48.00 to $49.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Goldman Sachs Group reissued a “hold” rating and issued a $48.00 price target on shares of Cisco Systems in a research note on Thursday, February 13th. Finally, Nomura Instinet upped their price objective on Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a report 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 company has an average rating of “Hold” and a consensus price target of $50.13.

About Cisco Systems

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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