Today, Burke & Herbert Bank & Trust Co. Reached $927,000 position of Cisco Systems Inc. (CSCO)

Today, Burke & Herbert Bank & Trust Co. Reached $927,000 position  of Cisco Systems Inc. (CSCO)
Burke & Herbert Bank & Trust Co. decreased its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 3.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,200 shares of the network equipment provider’s stock after selling 1,000 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Cisco Systems were worth $927,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Sun Life Financial INC purchased a new stake in Cisco Systems during the first quarter worth approximately $63,773,000. Riggs Asset Managment Co. Inc. raised its stake in Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock worth $102,000 after buying an additional 225 shares in the last quarter. Lenox Wealth Management Inc. raised its stake in Cisco Systems by 35.0% in the second quarter. Lenox Wealth Management Inc. now owns 3,835 shares of the network equipment provider’s stock worth $110,000 after buying an additional 995 shares in the last quarter. West Oak Capital LLC raised its stake in Cisco Systems by 19.1% in the third quarter. West Oak Capital LLC now owns 4,052 shares of the network equipment provider’s stock worth $129,000 after buying an additional 651 shares in the last quarter. Finally, Global X Management Co. LLC raised its stake in Cisco Systems by 101.9% in the second quarter. Global X Management Co. LLC now owns 4,244 shares of the network equipment provider’s stock worth $122,000 after buying an additional 2,142 shares in the last quarter. 75.09% of the stock is owned by institutional investors.

Cisco Systems Inc. (NASDAQ:CSCO) traded up 1.28% on Friday, hitting $30.09. The company had a trading volume of 17,678,862 shares. The stock has a market capitalization of $151.26 billion, a PE ratio of 14.40 and a beta of 1.42. Cisco Systems Inc. has a one year low of $22.46 and a one year high of $31.95. The stock has a 50 day moving average of $30.59 and a 200-day moving average of $30.09.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The business earned $12.35 billion during the quarter, compared to analysts’ expectations of $12.34 billion. During the same quarter last year, the firm posted $0.59 earnings per share. The firm’s revenue was down 2.6% on a year-over-year basis. Equities analysts anticipate that Cisco Systems Inc. will post $2.38 EPS for the current year.

A number of analysts have recently issued reports on CSCO shares. FBN Securities set a $35.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Saturday, November 19th. Piper Jaffray Cos. increased their price target on shares of Cisco Systems from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 18th. Wunderlich reissued a “hold” rating and issued a $27.00 price target on shares of Cisco Systems in a research report on Thursday, August 18th. JMP Securities reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, November 17th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 18th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $32.73.

In other Cisco Systems news, EVP Chris Dedicoat sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, September 16th. The stock was sold at an average price of $30.87, for a total value of $1,852,200.00. Following the completion of the sale, the executive vice president now owns 214,605 shares of the company’s stock, valued at $6,624,856.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John L. Hennessy sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $31.25, for a total value of $468,750.00. Following the completion of the sale, the director now directly owns 88,369 shares of the company’s stock, valued at approximately $2,761,531.25. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Cisco Systems Company Profile

Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

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