Spectrum Asset Management Inc. NB CA Has $3.18 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Spectrum Asset Management Inc. NB CA boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 59,959 shares of the network equipment provider’s stock after acquiring an additional 3,745 shares during the quarter. Spectrum Asset Management Inc. NB CA’s holdings in Cisco Systems were worth $3,178,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Washington Capital Management Inc. boosted its position in Cisco Systems by 0.7% during the 2nd quarter. Washington Capital Management Inc. now owns 24,265 shares of the network equipment provider’s stock worth $1,286,000 after acquiring an additional 180 shares during the period. Burke & Herbert Bank & Trust Co. boosted its position in Cisco Systems by 0.7% during the 2nd quarter. Burke & Herbert Bank & Trust Co. now owns 27,764 shares of the network equipment provider’s stock worth $1,471,000 after acquiring an additional 183 shares during the period. Calamos Wealth Management LLC boosted its position in Cisco Systems by 0.8% during the 2nd quarter. Calamos Wealth Management LLC now owns 24,197 shares of the network equipment provider’s stock worth $1,282,000 after acquiring an additional 190 shares during the period. Corundum Group Inc. boosted its position in Cisco Systems by 2.9% during the 1st quarter. Corundum Group Inc. now owns 7,073 shares of the network equipment provider’s stock worth $366,000 after acquiring an additional 196 shares during the period. Finally, Breiter Capital Management Inc. boosted its position in Cisco Systems by 1.0% during the 2nd quarter. Breiter Capital Management Inc. now owns 21,020 shares of the network equipment provider’s stock worth $1,114,000 after acquiring an additional 199 shares during the period. Hedge funds and other institutional investors own 71.92% of the company’s stock.

CSCO traded down $0.42 during midday trading on Tuesday, reaching $55.47. The company’s stock had a trading volume of 291,227 shares, compared to its average volume of 19,183,232. Cisco Systems, Inc. has a twelve month low of $35.28 and a twelve month high of $60.27. The stock has a market cap of $233.96 billion, a P/E ratio of 22.36, a PEG ratio of 3.01 and a beta of 0.91. The company has a fifty day simple moving average of $56.62 and a 200 day simple moving average of $53.66. The company has a current ratio of 1.49, a quick ratio of 1.43 and a debt-to-equity ratio of 0.22.

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

In related news, SVP Prat Bhatt sold 468 shares of the business’s stock in a transaction on Monday, September 13th. The stock was sold at an average price of $58.35, for a total value of $27,307.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Maria Martinez sold 4,000 shares of the business’s stock in a transaction on Monday, August 23rd. The shares were sold at an average price of $58.52, for a total value of $234,080.00. The disclosure for this sale can be found here. Insiders have sold a total of 64,529 shares of company stock worth $3,827,391 in the last three months. 0.02% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on CSCO shares. Wells Fargo & Company raised their price target on Cisco Systems from $65.00 to $70.00 and gave the stock an “overweight” rating in a research note on Thursday, September 9th. Robert W. Baird raised their price target on Cisco Systems from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, September 16th. Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $55.00 to $59.00 and gave the stock a “hold” rating in a research note on Tuesday, August 24th. Zacks Investment Research raised Cisco Systems from a “sell” rating to a “hold” rating and set a $58.00 price objective on the stock in a research note on Tuesday, July 27th. Finally, Piper Sandler raised their price objective on Cisco Systems from $53.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Cisco Systems has an average rating of “Hold” and an average price target of $58.90.

Cisco Systems Company 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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