Cypress Asset Management Inc. TX Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cypress Asset Management Inc. TX trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 12.0% in the second quarter, Holdings Channel reports. The institutional investor owned 8,245 shares of the network equipment provider’s stock after selling 1,120 shares during the period. Cypress Asset Management Inc. TX’s holdings in Cisco Systems were worth $352,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Cisco Systems by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock valued at $20,568,578,000 after purchasing an additional 30,181,146 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Cisco Systems by 0.3% in the 1st quarter. BlackRock Inc. now owns 351,582,807 shares of the network equipment provider’s stock valued at $19,604,258,000 after purchasing an additional 1,178,419 shares during the last quarter. State Street Corp lifted its holdings in shares of Cisco Systems by 2.2% in the 1st quarter. State Street Corp now owns 190,142,222 shares of the network equipment provider’s stock valued at $10,602,330,000 after purchasing an additional 4,017,068 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cisco Systems by 6.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock valued at $2,975,139,000 after purchasing an additional 3,087,294 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Cisco Systems by 14.0% in the 1st quarter. Swiss National Bank now owns 18,267,620 shares of the network equipment provider’s stock valued at $1,018,602,000 after purchasing an additional 2,249,600 shares during the last quarter. 71.71% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Jeffery S. Sharritts sold 637 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $44.69, for a total transaction of $28,467.53. Following the sale, the executive vice president now owns 166,370 shares in the company, valued at approximately $7,435,075.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Cisco Systems news, COO Maria Martinez sold 3,201 shares of the stock in a transaction on Monday, November 21st. The stock was sold at an average price of $47.81, for a total transaction of $153,039.81. Following the sale, the chief operating officer now owns 452,254 shares in the company, valued at approximately $21,622,263.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jeffery S. Sharritts sold 637 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $44.69, for a total value of $28,467.53. Following the transaction, the executive vice president now directly owns 166,370 shares in the company, valued at approximately $7,435,075.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,262 shares of company stock worth $2,422,160. 0.02% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have commented on CSCO. Piper Sandler upped their price objective on Cisco Systems from $43.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. KGI Securities raised Cisco Systems from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 31st. UBS Group upped their price objective on Cisco Systems from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. Deutsche Bank Aktiengesellschaft reduced their price objective on Cisco Systems from $54.00 to $52.00 and set a “hold” rating for the company in a research note on Friday, November 18th. Finally, Evercore ISI upped their price objective on Cisco Systems from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.63.

Cisco Systems Price Performance

Shares of CSCO traded up $0.19 on Thursday, reaching $48.57. The stock had a trading volume of 12,065,557 shares, compared to its average volume of 20,935,968. The firm has a market capitalization of $199.57 billion, a PE ratio of 17.53, a PEG ratio of 2.35 and a beta of 1.00. The company has a quick ratio of 1.34, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The firm has a 50-day moving average of $43.15 and a 200 day moving average of $44.35. Cisco Systems, Inc. has a twelve month low of $38.60 and a twelve month high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $13.63 billion for the quarter, compared to analysts’ expectations of $13.29 billion. Cisco Systems had a return on equity of 31.68% and a net margin of 22.00%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 3.17 EPS for the current year.

About Cisco Systems

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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

Further Reading

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

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