Kiwi Wealth Investments Limited Partnership boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 244.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 424,351 shares of the network equipment provider’s stock after purchasing an additional 301,322 shares during the quarter. Cisco Systems makes up approximately 1.8% of Kiwi Wealth Investments Limited Partnership’s investment portfolio, making the stock its 11th largest holding. Kiwi Wealth Investments Limited Partnership’s holdings in Cisco Systems were worth $18,200,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC increased its stake in shares of Cisco Systems by 47.1% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock worth $5,191,000 after acquiring an additional 38,725 shares during the last quarter. Covington Investment Advisors Inc. acquired a new stake in shares of Cisco Systems in the 1st quarter worth $5,331,000. Winfield Associates Inc. increased its position in shares of Cisco Systems by 121.0% during the 1st quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock worth $200,000 after purchasing an additional 2,557 shares during the last quarter. KBC Group NV increased its position in shares of Cisco Systems by 29.6% during the 1st quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock worth $89,873,000 after purchasing an additional 478,673 shares during the last quarter. Finally, United Capital Financial Advisers LLC increased its position in shares of Cisco Systems by 2.8% during the 1st quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock worth $89,158,000 after purchasing an additional 56,027 shares during the last quarter. Hedge funds and other institutional investors own 71.65% of the company’s stock.
Shares of NASDAQ:CSCO traded up $0.16 during trading on Friday, reaching $47.40. The company had a trading volume of 13,726,310 shares, compared to its average volume of 18,791,598. The firm has a market cap of $225.89 billion, a P/E ratio of 20.26, a PEG ratio of 2.79 and a beta of 1.06. The company has a current ratio of 2.29, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47. Cisco Systems, Inc. has a fifty-two week low of $32.12 and a fifty-two week high of $48.06.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. The business had revenue of $12.84 billion for the quarter, compared to analyst estimates of $12.76 billion. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. research analysts forecast that Cisco Systems, Inc. will post 2.65 EPS for the current fiscal year.
CSCO has been the subject of a number of recent analyst reports. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Tuesday, July 17th. Morgan Stanley lowered their target price on Cisco Systems from $50.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday, July 19th. JPMorgan Chase & Co. set a $59.00 target price on Cisco Systems and gave the company a “buy” rating in a report on Thursday, August 16th. BidaskClub upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, July 3rd. Finally, Argus lifted their price objective on Cisco Systems to $55.00 and gave the company a “buy” rating in a research note on Friday, May 18th. Nine research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $47.76.
In related news, EVP Mark D. Chandler sold 31,842 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $1,502,942.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total value of $3,304,000.00. Following the completion of the sale, the chief financial officer now owns 720,930 shares in the company, valued at $34,027,896. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 205,150 shares of company stock worth $9,557,825. Company insiders own 0.05% of the company’s stock.
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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