The Monarch Capital Management Inc. Reduces stake in Cisco Systems Inc. (CSCO)

The Monarch Capital Management Inc. Reduces stake in Cisco Systems Inc. (CSCO)

Monarch Capital Management Inc. lowered its stake in Cisco Systems Inc. (NASDAQ:CSCO) by 0.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 185,769 shares of the network equipment provider’s stock after selling 912 shares during the period. Cisco Systems comprises approximately 2.2% of Monarch Capital Management Inc.’s investment portfolio, making the stock its 16th largest position. Monarch Capital Management Inc.’s holdings in Cisco Systems were worth $5,893,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions 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 in 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 in 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 in 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 in 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 in the last quarter. 75.09% of the stock is owned by hedge funds and other institutional investors.

Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded up 1.28% during midday trading on Friday, reaching $30.09. The company’s stock had a trading volume of 17,678,862 shares. Cisco Systems Inc. has a 12-month low of $22.46 and a 12-month high of $31.95. The company has a market capitalization of $151.26 billion, a P/E ratio of 14.40 and a beta of 1.42. The company’s 50-day moving average price is $30.59 and its 200 day moving average price is $30.09.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The business had revenue of $12.35 billion for 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 quarterly revenue was down 2.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 EPS. On average, equities research analysts forecast that Cisco Systems Inc. will post $2.37 earnings per share for the current year.

A number of analysts have recently commented on the company. FBN Securities set a $35.00 price target on Cisco Systems and gave the company a “buy” rating in a research note on Saturday, November 19th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $32.00 price target on shares of Cisco Systems in a research note on Thursday, August 18th. Morgan Stanley upped their price target on Cisco Systems from $28.00 to $30.00 and gave the company an “equal weight” rating in a research note on Thursday, August 18th. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $32.05 price target for the company. in a research note on Tuesday, September 13th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Wednesday, November 2nd. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $32.73.

In other news, SVP Prat Bhatt sold 25,706 shares of the stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $31.02, for a total transaction of $797,400.12. Following the transaction, the senior vice president now directly owns 133,113 shares in the company, valued at approximately $4,129,165.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 148,800 shares of the stock in a transaction dated Tuesday, September 13th. The shares were 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 owns 629,813 shares in the company, valued at $19,530,501.13. 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.

Related posts

Leave a Comment