Todays Report: Today, 21,915 Shares of Cisco Systems Inc. (CSCO) are sold by Foundry Partners LLC

Today, 21,915 Shares of Cisco Systems Inc. (CSCO) are sold by Foundry Partners LLC

Foundry Partners LLC reduced its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 2.9% during the third quarter, Holdings Channel reports. The firm owned 738,510 shares of the network equipment provider’s stock after selling 21,915 shares during the period. Cisco Systems accounts for approximately 1.2% of Foundry Partners LLC’s portfolio, making the stock its 5th largest position. Foundry Partners LLC’s holdings in Cisco Systems were worth $23,426,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of CSCO. Thomaspartners Inc. boosted its stake in Cisco Systems by 3.3% in the first quarter. Thomaspartners Inc. now owns 4,888,656 shares of the network equipment provider’s stock valued at $139,180,000 after buying an additional 155,121 shares during the last quarter. Summit Street Capital Management LLC purchased a new stake in Cisco Systems during the first quarter valued at about $2,249,000. Nuveen Asset Management LLC boosted its stake in Cisco Systems by 5.6% in the first quarter. Nuveen Asset Management LLC now owns 3,816,105 shares of the network equipment provider’s stock valued at $108,644,000 after buying an additional 202,832 shares during the last quarter. AMP Capital Investors Ltd boosted its stake in Cisco Systems by 7.6% in the first quarter. AMP Capital Investors Ltd now owns 3,122,517 shares of the network equipment provider’s stock valued at $88,868,000 after buying an additional 220,472 shares during the last quarter. Finally, Williams Jones & Associates LLC boosted its stake in Cisco Systems by 8.7% in the first quarter. Williams Jones & Associates LLC now owns 882,355 shares of the network equipment provider’s stock valued at $25,121,000 after buying an additional 70,748 shares during the last quarter. Institutional investors and hedge funds own 74.29% of the company’s stock.

Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.6311% during midday trading on Monday, hitting $29.9001. The company had a trading volume of 13,987,372 shares. The company has a market cap of $150.31 billion, a P/E ratio of 14.3063 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 company’s 50 day moving average is $30.59 and its 200-day moving average is $30.09.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Zacks’ 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 company earned $12.35 billion during the quarter, compared to the consensus estimate of $12.34 billion. During the same period last year, the business earned $0.59 EPS. The business’s quarterly revenue was down 2.6% on a year-over-year basis. On average, equities analysts predict that Cisco Systems Inc. will post $2.37 EPS for the current year.

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

In related news, CEO Charles Robbins sold 148,800 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $31.01, for a total value of $4,614,288.00. Following the transaction, the chief executive officer now directly owns 629,813 shares of the company’s stock, valued at approximately $19,530,501.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Prat Bhatt sold 25,706 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $31.02, for a total value of $797,400.12. Following the completion of the transaction, the senior vice president now directly owns 133,113 shares in the company, valued at $4,129,165.26. The disclosure for this sale can be found here. 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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