Artisan Partners Limited Partnership Acquires 29,750 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Artisan Partners Limited Partnership increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 2.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,355,174 shares of the network equipment provider’s stock after purchasing an additional 29,750 shares during the period. Artisan Partners Limited Partnership’s holdings in Cisco Systems were worth $57,785,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Home Federal Bank of Tennessee lifted its position in shares of Cisco Systems by 9.4% during the 2nd quarter. Home Federal Bank of Tennessee now owns 5,278 shares of the network equipment provider’s stock worth $225,000 after buying an additional 455 shares during the last quarter. Nadler Financial Group Inc. increased its holdings in Cisco Systems by 5.7% in the 2nd quarter. Nadler Financial Group Inc. now owns 9,004 shares of the network equipment provider’s stock worth $384,000 after purchasing an additional 487 shares in the last quarter. LVZ Inc. increased its holdings in Cisco Systems by 22.9% in the 2nd quarter. LVZ Inc. now owns 7,852 shares of the network equipment provider’s stock worth $335,000 after purchasing an additional 1,464 shares in the last quarter. Aurora Private Wealth Inc. acquired a new position in Cisco Systems in the 2nd quarter worth about $170,000. Finally, Bison Wealth LLC increased its holdings in Cisco Systems by 7.7% in the 2nd quarter. Bison Wealth LLC now owns 13,343 shares of the network equipment provider’s stock worth $569,000 after purchasing an additional 958 shares in the last quarter. 71.71% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, COO Maria Martinez sold 4,674 shares of the stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $46.40, for a total value of $216,873.60. Following the transaction, the chief operating officer now owns 273,307 shares in the company, valued at $12,681,444.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Prat Bhatt sold 19,168 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total value of $848,759.04. Following the transaction, the senior vice president now owns 38,158 shares in the company, valued at $1,689,636.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Maria Martinez sold 4,674 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $46.40, for a total value of $216,873.60. Following the completion of the transaction, the chief operating officer now owns 273,307 shares in the company, valued at approximately $12,681,444.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,262 shares of company stock worth $2,422,160. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Stock Up 0.4 %

Shares of NASDAQ:CSCO opened at $48.57 on Thursday. The business’s 50 day simple moving average is $43.06 and its two-hundred day simple moving average is $44.32. The firm has a market cap of $199.57 billion, a P/E ratio of 17.53, a PEG ratio of 2.35 and a beta of 1.00. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.34 and a current ratio of 1.45. Cisco Systems, Inc. has a 52-week low of $38.60 and a 52-week high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. The business had revenue of $13.63 billion for the quarter, compared to analyst estimates of $13.29 billion. Cisco Systems had a return on equity of 31.68% and a net margin of 22.00%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.73 earnings per share. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. UBS Group upped their target price on Cisco Systems from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, August 18th. Oppenheimer reissued an “outperform” rating and issued a $50.00 price target on shares of Cisco Systems in a research note on Friday, November 18th. Cowen increased their price target on Cisco Systems from $60.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, November 17th. Cowen increased their price target on Cisco Systems from $58.00 to $60.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. Finally, Bank of America reissued a “buy” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, November 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $53.63.

About Cisco Systems

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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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

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