Trade Report: Today, 154,657 Shares of Cisco Systems Inc. (CSCO) are sold by Atalanta Sosnoff Capital LLC

Today, 154,657 Shares of Cisco Systems Inc. (CSCO) are sold by Atalanta Sosnoff Capital LLC

Atalanta Sosnoff Capital LLC cut its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 8.6% during the third quarter, Holdings Channel reports. The fund owned 1,644,406 shares of the network equipment provider’s stock after selling 154,657 shares during the period. Cisco Systems accounts for 1.8% of Atalanta Sosnoff Capital LLC’s portfolio, making the stock its 20th largest position. Atalanta Sosnoff Capital LLC’s holdings in Cisco Systems were worth $52,161,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. AMP Capital Investors Ltd boosted its stake in shares of 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 worth $88,868,000 after buying an additional 220,472 shares in the last quarter. Williams Jones & Associates LLC boosted its stake in shares of 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 worth $25,121,000 after buying an additional 70,748 shares in the last quarter. National Pension Service boosted its stake in shares of Cisco Systems by 4.3% in the first quarter. National Pension Service now owns 2,566,831 shares of the network equipment provider’s stock worth $73,078,000 after buying an additional 104,734 shares in the last quarter. Princeton Portfolio Strategies Group LLC boosted its stake in shares of Cisco Systems by 12.2% in the first quarter. Princeton Portfolio Strategies Group LLC now owns 46,285 shares of the network equipment provider’s stock worth $1,318,000 after buying an additional 5,041 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of Cisco Systems during the first quarter worth $675,000. Institutional investors own 74.29% of the company’s stock.

Shares of Cisco Systems Inc. (NASDAQ:CSCO) opened at 29.98 on Tuesday. Cisco Systems Inc. has a one year low of $22.46 and a one year high of $31.95. The firm has a 50 day moving average price of $30.55 and a 200 day moving average price of $30.16. The company has a market capitalization of $150.49 billion, a P/E ratio of 14.34 and a beta of 1.42.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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%. Cisco Systems’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. On average, equities research analysts predict that Cisco Systems Inc. will post $2.37 EPS for the current fiscal year.

A number of research firms recently issued reports on CSCO. FBN Securities set a $35.00 target price on Cisco Systems and gave the stock a “buy” rating in a report on Saturday, November 19th. Deutsche Bank AG reaffirmed a “buy” rating and set a $37.00 target price on shares of Cisco Systems in a report on Monday, October 17th. JMP Securities reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, November 17th. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $32.05 target price on the stock. in a report on Tuesday, September 13th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $35.00 target price on shares of Cisco Systems in a report on Monday, August 29th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $32.73.

In related news, SVP Karen Walker sold 10,244 shares of the business’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $31.17, for a total transaction of $319,305.48. Following the sale, the senior vice president now owns 138,625 shares in the company, valued at approximately $4,320,941.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Prat Bhatt sold 25,706 shares of the business’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $31.02, for a total value of $797,400.12. Following the sale, the senior vice president now owns 133,113 shares in the company, valued at approximately $4,129,165.26. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

About Cisco Systems

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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