Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 21,080 shares of the network equipment provider’s stock after buying an additional 235 shares during the period. Great Lakes Retirement Inc.’s holdings in Cisco Systems were worth $1,248,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CSCO. Morse Asset Management Inc purchased a new position in shares of Cisco Systems in the 3rd quarter valued at approximately $798,000. HighVista Strategies LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at approximately $1,698,000. GAMMA Investing LLC lifted its holdings in Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after acquiring an additional 10,813 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of Cisco Systems during the 3rd quarter worth $502,000. Finally, Commerzbank Aktiengesellschaft FI grew its stake in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of research analyst reports. Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Morgan Stanley boosted their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $66.00 in a research note on Monday, November 11th. BNP Paribas upgraded Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. Finally, UBS Group lifted their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $62.72.

Cisco Systems Price Performance

Shares of CSCO stock opened at $62.43 on Wednesday. The firm has a market cap of $248.64 billion, a P/E ratio of 26.79, a P/E/G ratio of 4.63 and a beta of 0.84. The firm has a fifty day moving average of $59.78 and a two-hundred day moving average of $55.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $63.25.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 58,188 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $3,345,228.12. Following the sale, the executive vice president now owns 219,100 shares in the company, valued at approximately $12,596,059. This trade represents a 20.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock worth $20,349,721 over the last ninety days. 0.01% of the stock is owned by insiders.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.