16,624 Shares in Cisco Systems, Inc. (CSCO) Purchased by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC purchased a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 16,624 shares of the network equipment provider’s stock, valued at approximately $721,000.

A number of other institutional investors also recently modified their holdings of CSCO. Bigelow Investment Advisors LLC increased its stake 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 worth $1,929,000 after acquiring an additional 235 shares during the period. Waldron Private Wealth LLC boosted 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 in the last quarter. McGuire Investment Group LLC boosted 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 in the last quarter. Mitchell Sinkler & Starr PA boosted 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 in the last quarter. Finally, Winthrop Advisory Group LLC boosted 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 in the last quarter. Institutional investors and hedge funds own 66.84% of the company’s stock.

CSCO opened at $54.19 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. The firm has a market cap of $261.06 billion, a price-to-earnings ratio of 23.16, a P/E/G ratio of 2.89 and a beta of 1.21. Cisco Systems, Inc. has a 52-week low of $40.25 and a 52-week high of $57.53.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. The business had revenue of $12.96 billion for the quarter, compared to the consensus estimate of $12.89 billion. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.8 earnings per share for the current fiscal year.

Cisco Systems declared that its board has authorized a stock buyback program on Wednesday, February 13th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

A number of analysts recently issued reports on CSCO shares. Citigroup increased their price target on shares of Cisco Systems from $52.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, February 14th. Credit Suisse Group increased their price target on shares of Cisco Systems from $44.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. William Blair reissued an “outperform” rating on shares of Cisco Systems in a report on Thursday, May 16th. Goldman Sachs Group downgraded shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and increased their price target for the stock from $58.00 to $62.00 in a report on Tuesday, April 16th. Finally, Bank of America set a $62.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Thursday, May 16th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $55.87.

In other Cisco Systems news, EVP David Goeckeler sold 30,000 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the transaction, the executive vice president now directly owns 419,439 shares of the company’s stock, valued at $21,840,188.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $51.70, for a total transaction of $3,619,000.00. Following the transaction, the chief financial officer now directly owns 420,696 shares in the company, valued at $21,749,983.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 103,750 shares of company stock worth $5,390,313. Insiders own 0.03% of the company’s stock.

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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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