Trade Report: Today, McQueen Ball & Associates Inc. Sold shares of Cisco Systems Inc. (CSCO)

Today, McQueen Ball & Associates Inc. Sold shares of Cisco Systems Inc. (CSCO)

McQueen Ball & Associates Inc. decreased its stake in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 0.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 65,299 shares of the network equipment provider’s stock after selling 265 shares during the period. Cisco Systems comprises 1.4% of McQueen Ball & Associates Inc.’s investment portfolio, making the stock its 17th largest position. McQueen Ball & Associates Inc.’s holdings in Cisco Systems were worth $2,071,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Mercer Capital Advisers Inc. boosted its stake in shares of Cisco Systems by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock valued at $137,000 after buying an additional 35 shares during the last quarter. Pinnacle Holdings LLC boosted its stake in shares of Cisco Systems by 0.5% in the first quarter. Pinnacle Holdings LLC now owns 16,009 shares of the network equipment provider’s stock valued at $456,000 after buying an additional 81 shares during the last quarter. Moody Lynn & Lieberson LLC boosted its stake in shares of Cisco Systems by 0.6% in the second quarter. Moody Lynn & Lieberson LLC now owns 13,890 shares of the network equipment provider’s stock valued at $399,000 after buying an additional 83 shares during the last quarter. Crawford Investment Counsel Inc. boosted its stake in shares of Cisco Systems by 1.1% in the second quarter. Crawford Investment Counsel Inc. now owns 8,601 shares of the network equipment provider’s stock valued at $247,000 after buying an additional 95 shares during the last quarter. Finally, Hayek Kallen Investment Management boosted its stake in shares of Cisco Systems by 1.4% in the second quarter. Hayek Kallen Investment Management now owns 7,206 shares of the network equipment provider’s stock valued at $207,000 after buying an additional 100 shares during the last quarter. 75.09% of the stock is currently owned by institutional investors.

Cisco Systems Inc. (NASDAQ:CSCO) traded up 1.28% during mid-day trading on Friday, reaching $30.09. The company had a trading volume of 17,678,862 shares. The company’s 50-day moving average is $30.59 and its 200-day moving average is $30.09. 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.

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

CSCO has been the subject of several recent research reports. Jefferies Group reissued a “buy” rating on shares of Cisco Systems in a research note on Thursday, August 4th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $34.00 target price (up from $30.00) on shares of Cisco Systems in a report on Friday, August 5th. Citigroup Inc. boosted their target price on Cisco Systems from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 9th. Credit Suisse Group AG restated a “sell” rating and issued a $24.00 target price on shares of Cisco Systems in a report on Thursday, August 11th. Finally, Barclays PLC boosted their target price on Cisco Systems from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, August 15th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.73.

In other Cisco Systems news, SVP Mark D. Chandler sold 62,910 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $31.40, for a total transaction of $1,975,374.00. Following the completion of the sale, the senior vice president now directly owns 286,628 shares of the company’s stock, valued at approximately $9,000,119.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Karen Walker sold 10,244 shares of the business’s stock in a transaction that occurred on Tuesday, September 20th. The stock was sold at an average price of $31.17, for a total value of $319,305.48. Following the sale, the senior vice president now directly owns 138,625 shares of the company’s stock, valued at $4,320,941.25. The disclosure for this sale can be found here. Company 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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