Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Saturna Capital CORP

Saturna Capital CORP raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,133,983 shares of the network equipment provider’s stock after acquiring an additional 26,000 shares during the period. Cisco Systems makes up approximately 2.3% of Saturna Capital CORP’s investment portfolio, making the stock its 12th largest position. Saturna Capital CORP’s holdings in Cisco Systems were worth $113,101,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. McCarthy Asset Management Inc. raised its holdings in Cisco Systems by 87.8% in the 2nd quarter. McCarthy Asset Management Inc. now owns 494 shares of the network equipment provider’s stock valued at $26,000 after acquiring an additional 231 shares during the last quarter. Lake Point Wealth Management acquired a new stake in Cisco Systems in the 2nd quarter valued at about $36,000. Arcadia Investment Management Corp MI raised its holdings in Cisco Systems by 48.4% in the 2nd quarter. Arcadia Investment Management Corp MI now owns 705 shares of the network equipment provider’s stock valued at $37,000 after acquiring an additional 230 shares during the last quarter. Stuart Chaussee & Associates Inc. raised its holdings in Cisco Systems by 43.2% in the 1st quarter. Stuart Chaussee & Associates Inc. now owns 716 shares of the network equipment provider’s stock valued at $37,000 after acquiring an additional 216 shares during the last quarter. Finally, IAG Wealth Partners LLC acquired a new stake in shares of Cisco Systems during the 2nd quarter worth approximately $40,000. Institutional investors own 71.92% of the company’s stock.

In other news, CEO Charles Robbins sold 6,543 shares of Cisco Systems stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $59.69, for a total transaction of $390,551.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Geraldine Elliott sold 50,000 shares of Cisco Systems stock in a transaction on Wednesday, August 25th. The stock was sold at an average price of $59.40, for a total transaction of $2,970,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,529 shares of company stock valued at $3,827,391. Corporate insiders own 0.02% of the company’s stock.

A number of analysts have recently issued reports on the stock. JMP Securities restated a “hold” rating on shares of Cisco Systems in a report on Thursday, September 16th. JPMorgan Chase & Co. set a $70.00 price target on shares of Cisco Systems in a report on Thursday, September 16th. Morgan Stanley downgraded shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $57.00 to $59.00 in a report on Thursday, September 9th. Citigroup raised their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Thursday, August 19th. Finally, The Goldman Sachs Group set a $64.00 price target on shares of Cisco Systems in a report on Thursday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.90.

CSCO stock traded down $0.24 during midday trading on Tuesday, hitting $55.65. The company’s stock had a trading volume of 512,498 shares, compared to its average volume of 19,183,232. The company has a quick ratio of 1.43, a current ratio of 1.49 and a debt-to-equity ratio of 0.22. Cisco Systems, Inc. has a 52-week low of $35.28 and a 52-week high of $60.27. The firm has a market capitalization of $234.72 billion, a P/E ratio of 22.36, a PEG ratio of 3.01 and a beta of 0.91. The firm has a 50-day simple moving average of $56.62 and a 200-day simple moving average of $53.66.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Tuesday, August 17th. The network equipment provider reported $0.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.01. Cisco Systems had a net margin of 21.26% and a return on equity of 30.82%. The company had revenue of $13.13 billion during the quarter, compared to analysts’ expectations of $13.04 billion. During the same quarter last year, the company posted $0.80 EPS. The firm’s revenue was up 8.0% compared to the same quarter last year. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.08 earnings per share for the current fiscal year.

About Cisco Systems

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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