Cisco Systems, Inc. $CSCO Holdings Decreased by KBC Group NV

KBC Group NV lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 11.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,802,016 shares of the network equipment provider’s stock after selling 226,646 shares during the quarter. KBC Group NV’s holdings in Cisco Systems were worth $125,024,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Connections Group Inc. boosted its position in shares of Cisco Systems by 89.4% in the 2nd quarter. Financial Connections Group Inc. now owns 409 shares of the network equipment provider’s stock valued at $28,000 after purchasing an additional 193 shares during the period. Legacy Investment Solutions LLC bought a new stake in shares of Cisco Systems in the 2nd quarter valued at approximately $28,000. Pandora Wealth Inc. acquired a new position in shares of Cisco Systems during the 1st quarter worth $31,000. Nova Wealth Management Inc. acquired a new position in Cisco Systems during the first quarter worth $31,000. Finally, Brown Shipley& Co Ltd bought a new position in Cisco Systems during the second quarter valued at about $32,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 30,557 shares of the stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $66.63, for a total value of $2,036,012.91. Following the transaction, the chief executive officer owned 639,000 shares of the company’s stock, valued at approximately $42,576,570. This represents a 4.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,718 shares of the business’s stock in a transaction dated Thursday, September 11th. The stock was sold at an average price of $68.08, for a total value of $185,041.44. Following the transaction, the executive vice president owned 157,184 shares of the company’s stock, valued at $10,701,086.72. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 82,965 shares of company stock worth $5,559,996. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the subject of several analyst reports. Piper Sandler boosted their target price on Cisco Systems from $64.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, August 14th. Erste Group Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Monday. Evercore ISI raised their target price on shares of Cisco Systems from $72.00 to $74.00 and gave the company an “in-line” rating in a research note on Thursday, August 14th. Barclays lifted their target price on shares of Cisco Systems from $66.00 to $71.00 and gave the stock an “equal weight” rating in a report on Thursday, August 14th. Finally, UBS Group raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $74.00 to $88.00 in a research report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $75.50.

Cisco Systems Price Performance

Cisco Systems stock opened at $71.71 on Wednesday. The stock has a market cap of $282.59 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 3.00 and a beta of 0.95. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $74.84. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.49. The business’s 50-day simple moving average is $69.33 and its 200 day simple moving average is $67.16.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. The company had revenue of $14.67 billion for the quarter, compared to analyst estimates of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.06%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. As a group, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

About Cisco Systems

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.