Carmignac Gestion Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Carmignac Gestion lowered its position in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 28.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,674 shares of the network equipment provider’s stock after selling 3,871 shares during the period. Carmignac Gestion’s holdings in Cisco Systems were worth $412,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Home Federal Bank of Tennessee boosted its position in Cisco Systems by 9.4% in the 2nd quarter. Home Federal Bank of Tennessee now owns 5,278 shares of the network equipment provider’s stock worth $225,000 after purchasing an additional 455 shares in the last quarter. Nadler Financial Group Inc. boosted its position 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. boosted its position 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. purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $170,000. Finally, Bison Wealth LLC boosted its position 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. Hedge funds and other institutional investors own 71.71% of the company’s stock.

Cisco Systems Trading Up 0.4 %

Shares of NASDAQ CSCO traded up $0.19 during mid-day trading on Thursday, reaching $48.57. 12,065,557 shares of the company’s stock were exchanged, compared to its average volume of 20,935,968. The firm has a market capitalization of $199.57 billion, a price-to-earnings 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. The company’s 50-day moving average is $43.06 and its 200-day moving average is $44.32.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Raymond James reduced their target price on Cisco Systems from $63.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, August 18th. Evercore ISI upped their target price on Cisco Systems from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, August 18th. StockNews.com raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 18th. Oppenheimer reaffirmed an “outperform” rating and set a $50.00 target price on shares of Cisco Systems in a research note on Friday, November 18th. Finally, Barclays downgraded Cisco Systems from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $56.00 to $46.00 in a research note on Wednesday, September 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $53.63.

Insider Activity at Cisco Systems

In related news, SVP Prat Bhatt sold 19,168 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $848,759.04. Following the completion of the transaction, the senior vice president now directly owns 38,158 shares in the company, valued at approximately $1,689,636.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Maria Martinez sold 3,201 shares of the firm’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $47.81, for a total transaction of $153,039.81. Following the completion of the transaction, the chief operating officer now directly owns 452,254 shares in the company, valued at approximately $21,622,263.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Prat Bhatt sold 19,168 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total value of $848,759.04. Following the completion of the sale, the senior vice president now directly owns 38,158 shares in the company, valued at approximately $1,689,636.24. The disclosure for this sale can be found here. Insiders sold 52,262 shares of company stock worth $2,422,160 in the last three months. 0.02% of the stock is owned by company insiders.

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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