Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Focus Financial Network Inc.

Focus Financial Network Inc. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 24,066 shares of the network equipment provider’s stock after selling 1,744 shares during the quarter. Focus Financial Network Inc.’s holdings in Cisco Systems were worth $1,425,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CSCO. State Street Corp increased its position in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cisco Systems by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after buying an additional 1,677,383 shares during the last quarter. FMR LLC raised its stake in Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Cisco Systems by 1.2% during the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock worth $1,107,930,000 after buying an additional 216,632 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent analyst reports. Morgan Stanley increased their price objective on Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Barclays increased their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Citigroup boosted their price objective on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Bank of America increased their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, UBS Group boosted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.72.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kristina M. Johnson sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the completion of the sale, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Down 0.6 %

Cisco Systems stock opened at $62.43 on Wednesday. The stock has a 50 day moving average of $59.78 and a two-hundred day moving average of $55.21. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $63.25. The stock has a market capitalization of $248.64 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 4.63 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Company 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.