World Asset Management Inc Lowers Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

World Asset Management Inc lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the second quarter, Holdings Channel.com reports. The firm owned 134,826 shares of the network equipment provider’s stock after selling 1,845 shares during the period. Cisco Systems accounts for 0.7% of World Asset Management Inc’s investment portfolio, making the stock its 24th largest holding. World Asset Management Inc’s holdings in Cisco Systems were worth $7,146,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Cisco Systems by 2.2% in the first quarter. BlackRock Inc. now owns 334,979,843 shares of the network equipment provider’s stock worth $17,321,808,000 after buying an additional 7,282,145 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cisco Systems by 3.1% in the first quarter. Geode Capital Management LLC now owns 69,440,752 shares of the network equipment provider’s stock worth $3,581,548,000 after acquiring an additional 2,062,223 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Cisco Systems by 1.3% during the first quarter. Ameriprise Financial Inc. now owns 54,346,309 shares of the network equipment provider’s stock valued at $2,811,048,000 after buying an additional 710,318 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Cisco Systems by 35.7% during the first quarter. Nuveen Asset Management LLC now owns 44,857,692 shares of the network equipment provider’s stock valued at $2,319,591,000 after buying an additional 11,791,493 shares in the last quarter. Finally, Morgan Stanley raised its stake in Cisco Systems by 9.9% during the first quarter. Morgan Stanley now owns 42,815,350 shares of the network equipment provider’s stock valued at $2,213,982,000 after buying an additional 3,867,546 shares in the last quarter. 71.92% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently weighed in on CSCO. Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $55.00 to $59.00 and gave the stock a “hold” rating in a research report on Tuesday, August 24th. DZ Bank reaffirmed a “hold” rating and set a $51.00 price target on shares of Cisco Systems in a research note on Thursday, May 27th. Wells Fargo & Company increased their price objective on Cisco Systems from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, September 9th. Barclays increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, August 19th. They noted that the move was a valuation call. Finally, William Blair restated a “market perform” rating on shares of Cisco Systems in a report on Thursday, May 20th. Eleven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of “Buy” and a consensus price target of $56.19.

In other news, CEO Charles Robbins sold 6,543 shares of the business’s stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $59.69, for a total value of $390,551.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Prat Bhatt sold 468 shares of the business’s stock in a transaction on Monday, September 13th. The shares were sold at an average price of $58.35, for a total transaction of $27,307.80. The disclosure for this sale can be found here. Insiders have sold a total of 64,529 shares of company stock valued at $3,827,391 in the last ninety days. Company insiders own 0.02% of the company’s stock.

CSCO traded down $0.02 during trading on Wednesday, reaching $57.85. 290,042 shares of the company’s stock were exchanged, compared to its average volume of 18,916,217. The company’s fifty day moving average price is $56.34 and its 200-day moving average price is $53.33. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.43 and a current ratio of 1.49. Cisco Systems, Inc. has a fifty-two week low of $35.28 and a fifty-two week high of $60.27. The firm has a market capitalization of $244.00 billion, a PE ratio of 23.15, a P/E/G ratio of 3.01 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Tuesday, August 17th. The network equipment provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. Cisco Systems had a net margin of 21.26% and a return on equity of 30.82%. The firm had revenue of $13.13 billion during the quarter, compared to analyst estimates of $13.04 billion. During the same quarter in the previous year, the business earned $0.80 EPS. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. Research analysts forecast that Cisco Systems, Inc. will post 3.08 earnings per share for the current fiscal year.

Cisco Systems Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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

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