Banque Pictet & Cie SA Reduces Stake in Cisco Systems, Inc. (CSCO)

Banque Pictet & Cie SA reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 28.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 78,464 shares of the network equipment provider’s stock after selling 30,550 shares during the period. Banque Pictet & Cie SA’s holdings in Cisco Systems were worth $3,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Fosun International Ltd lifted its position in Cisco Systems by 113.8% during the fourth quarter. Fosun International Ltd now owns 26,700 shares of the network equipment provider’s stock valued at $1,146,000 after purchasing an additional 14,210 shares in the last quarter. Miles Capital Inc. lifted its position in Cisco Systems by 5.1% during the fourth quarter. Miles Capital Inc. now owns 9,647 shares of the network equipment provider’s stock valued at $418,000 after purchasing an additional 469 shares in the last quarter. Regentatlantic Capital LLC lifted its position in Cisco Systems by 0.7% during the fourth quarter. Regentatlantic Capital LLC now owns 224,113 shares of the network equipment provider’s stock valued at $9,711,000 after purchasing an additional 1,619 shares in the last quarter. Palo Capital Inc. lifted its position in Cisco Systems by 1.7% during the fourth quarter. Palo Capital Inc. now owns 31,380 shares of the network equipment provider’s stock valued at $1,360,000 after purchasing an additional 537 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its position in Cisco Systems by 3.2% during the fourth quarter. Gamco Investors INC. ET AL now owns 38,150 shares of the network equipment provider’s stock valued at $1,653,000 after purchasing an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 69.04% of the company’s stock.

NASDAQ:CSCO opened at $52.44 on Thursday. The company has a current ratio of 1.80, a quick ratio of 1.74 and a debt-to-equity ratio of 0.39. The stock has a market cap of $247.14 billion, a price-to-earnings ratio of 22.41, a price-to-earnings-growth ratio of 2.67 and a beta of 1.21. Cisco Systems, Inc. has a 52 week low of $40.25 and a 52 week high of $57.53.



Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.01. The business had revenue of $12.96 billion for the quarter, compared to analysts’ expectations of $12.89 billion. Cisco Systems had a return on equity of 27.58% and a net margin of 25.31%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period last year, the firm earned $0.66 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 2.75 earnings per share for the current fiscal year.

Cisco Systems announced that its board has approved a share buyback plan on Wednesday, February 13th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to purchase up to 6.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

CSCO has been the topic of several analyst reports. Credit Suisse Group set a $44.00 target price on Cisco Systems and gave the company a “hold” rating in a research report on Wednesday, January 16th. Robert W. Baird reiterated a “buy” rating and set a $53.00 target price on shares of Cisco Systems in a research report on Tuesday, February 12th. Morgan Stanley downgraded Cisco Systems from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $51.00 to $49.00 in a research report on Tuesday, February 12th. Wells Fargo & Co reiterated an “outperform” rating and set a $57.00 target price (up from $52.00) on shares of Cisco Systems in a research report on Wednesday, February 13th. Finally, Citigroup lifted their target price on Cisco Systems from $52.00 to $56.00 and gave the company a “buy” rating in a research report on Thursday, February 14th. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $54.35.

In other Cisco Systems news, Director Roderick C. Mcgeary sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $49.66, for a total transaction of $744,900.00. Following the sale, the director now directly owns 102,898 shares of the company’s stock, valued at $5,109,914.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Goeckeler sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $52.07, for a total value of $1,562,100.00. Following the sale, the executive vice president now directly owns 419,439 shares in the company, valued at $21,840,188.73. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,000 shares of company stock worth $5,926,000. Insiders own 0.03% of the company’s stock.

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Cisco Systems 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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