Biegel & Waller LLC Raises Stake in Cisco Systems, Inc. (CSCO)

Biegel & Waller LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 32.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,179 shares of the network equipment provider’s stock after acquiring an additional 2,482 shares during the quarter. Biegel & Waller LLC’s holdings in Cisco Systems were worth $438,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Financial Gravity Wealth Inc. purchased a new stake in shares of Cisco Systems during the first quarter worth about $502,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Cisco Systems by 134.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 156,804 shares of the network equipment provider’s stock worth $6,725,000 after buying an additional 89,855 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Cisco Systems by 1.7% during the first quarter. Thrivent Financial for Lutherans now owns 9,182,953 shares of the network equipment provider’s stock worth $393,857,000 after buying an additional 156,778 shares in the last quarter. Stevens Capital Management LP purchased a new stake in shares of Cisco Systems during the first quarter worth about $1,424,000. Finally, Breiter Capital Management Inc. grew its holdings in shares of Cisco Systems by 43.6% during the first quarter. Breiter Capital Management Inc. now owns 21,341 shares of the network equipment provider’s stock worth $915,000 after buying an additional 6,483 shares in the last quarter. Hedge funds and other institutional investors own 69.52% of the company’s stock.

A number of equities research analysts have recently commented on the stock. Piper Jaffray Companies set a $53.00 price target on shares of Cisco Systems and gave the stock an “overweight” rating in a report on Monday, October 1st. Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Friday, October 26th. Credit Suisse Group raised their target price on shares of Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a research report on Thursday, August 16th. Robert W. Baird reissued an “outperform” rating and issued a $53.00 target price on shares of Cisco Systems in a research report on Thursday. Finally, BMO Capital Markets raised their target price on shares of Cisco Systems from $43.00 to $48.00 and gave the stock a “market perform” rating in a research report on Thursday, August 16th. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $50.26.

In other news, EVP Mark D. Chandler sold 31,842 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $1,502,942.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction dated Thursday, November 29th. The stock was sold at an average price of $47.44, for a total transaction of $3,320,800.00. Following the transaction, the chief financial officer now owns 492,301 shares of the company’s stock, valued at approximately $23,354,759.44. The disclosure for this sale can be found here. Insiders have sold 558,943 shares of company stock valued at $26,362,383 in the last 90 days. Insiders own 0.03% of the company’s stock.

CSCO stock traded up $0.87 during trading on Monday, hitting $48.74. 24,529,321 shares of the company’s stock traded hands, compared to its average volume of 24,123,930. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 2.05. Cisco Systems, Inc. has a 52 week low of $37.17 and a 52 week high of $49.47. The firm has a market cap of $230.61 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.80 and a beta of 1.15.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.03. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.86 billion. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. As a group, analysts expect that Cisco Systems, Inc. will post 2.7 EPS for the current fiscal year.

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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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