Buckley Wealth Management LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 136,180 shares of the network equipment provider’s stock after selling 1,061 shares during the quarter. Cisco Systems comprises approximately 3.0% of Buckley Wealth Management LLC’s investment portfolio, making the stock its 10th biggest holding. Buckley Wealth Management LLC’s holdings in Cisco Systems were worth $5,901,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bigelow Investment Advisors LLC raised its holdings in shares of Cisco Systems by 0.5% in the fourth quarter. Bigelow Investment Advisors LLC now owns 44,515 shares of the network equipment provider’s stock valued at $1,929,000 after purchasing an additional 235 shares during the last quarter. Waldron Private Wealth LLC increased its holdings in Cisco Systems by 1.5% during the third quarter. Waldron Private Wealth LLC now owns 16,212 shares of the network equipment provider’s stock worth $788,000 after buying an additional 242 shares during the last quarter. McGuire Investment Group LLC increased its holdings in Cisco Systems by 2.7% during the fourth quarter. McGuire Investment Group LLC now owns 9,615 shares of the network equipment provider’s stock worth $417,000 after buying an additional 252 shares during the last quarter. Mitchell Sinkler & Starr PA increased its holdings in Cisco Systems by 1.0% during the fourth quarter. Mitchell Sinkler & Starr PA now owns 26,651 shares of the network equipment provider’s stock worth $1,155,000 after buying an additional 270 shares during the last quarter. Finally, Winthrop Advisory Group LLC increased its holdings in Cisco Systems by 3.9% during the fourth quarter. Winthrop Advisory Group LLC now owns 7,385 shares of the network equipment provider’s stock worth $320,000 after buying an additional 278 shares during the last quarter. 69.04% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. Goldman Sachs Group downgraded shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and boosted their target price for the stock from $58.00 to $62.00 in a report on Tuesday, April 16th. Jefferies Financial Group boosted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday. They noted that the move was a valuation call. Bank of America set a $62.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley boosted their target price on shares of Cisco Systems from $49.00 to $51.00 and gave the stock an “equal weight” rating in a report on Thursday. Finally, William Blair restated an “outperform” rating on shares of Cisco Systems in a report on Thursday. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $55.52.
NASDAQ:CSCO opened at $56.35 on Monday. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $57.53. The firm has a market capitalization of $271.47 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 2.93 and a beta of 1.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.74 and a current ratio of 1.69.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The firm had revenue of $12.96 billion for the quarter, compared to the consensus estimate of $12.89 billion. During the same period in the previous year, the company earned $0.66 earnings per share. The company’s quarterly revenue was up 4.0% on a year-over-year basis. On average, analysts predict that Cisco Systems, Inc. will post 2.76 earnings per share for the current fiscal year.
Cisco Systems announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 13th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to reacquire up to 6.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
Cisco Systems 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.
Further Reading: Oversold
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