Marshall Wace North America L.P. Acquires New Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Marshall Wace North America L.P. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 956,853 shares of the network equipment provider’s stock, valued at approximately $52,368,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Evolution Wealth Advisors LLC purchased a new position in Cisco Systems during the second quarter worth about $33,000. Lowe Wealth Advisors LLC purchased a new position in Cisco Systems during the second quarter worth about $38,000. Personal Wealth Partners purchased a new position in Cisco Systems during the second quarter worth about $44,000. Ashburton Jersey Ltd purchased a new position in Cisco Systems during the second quarter worth about $49,000. Finally, Cohen & Steers Inc. purchased a new position in Cisco Systems during the fourth quarter worth about $51,000. 73.31% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:CSCO traded down $0.04 during mid-day trading on Thursday, hitting $49.31. The stock had a trading volume of 5,455,049 shares, compared to its average volume of 16,666,221. The stock has a 50-day simple moving average of $49.61 and a two-hundred day simple moving average of $53.66. The company has a market capitalization of $212.09 billion, a PE ratio of 17.30, a PEG ratio of 2.33 and a beta of 1.26. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $58.26. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The firm had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.70 earnings per share. Sell-side analysts predict that Cisco Systems, Inc. will post 3.06 EPS for the current fiscal year.

In related news, EVP Mark D. Chandler sold 546 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $47.92, for a total value of $26,164.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 18,955 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $50.04, for a total transaction of $948,508.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,234 shares of company stock worth $4,782,259. 0.03% of the stock is owned by corporate insiders.

Several brokerages have weighed in on CSCO. JPMorgan Chase & Co. set a $62.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Monday, August 12th. MKM Partners reduced their price target on shares of Cisco Systems from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Raymond James reissued an “overweight” rating on shares of Cisco Systems in a research report on Friday, August 16th. ValuEngine cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, William Blair cut shares of Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 price target on the stock. in a research report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $56.60.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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