Cisco Systems (CSCO) Shares Sold by Capital Investment Counsel Inc

Capital Investment Counsel Inc decreased its holdings in Cisco Systems (NASDAQ:CSCO) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 238,162 shares of the network equipment provider’s stock after selling 3,283 shares during the quarter. Cisco Systems accounts for approximately 3.8% of Capital Investment Counsel Inc’s holdings, making the stock its 5th biggest position. Capital Investment Counsel Inc’s holdings in Cisco Systems were worth $9,122,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Bank of New York Mellon Corp raised its position in Cisco Systems by 12.8% in the 4th quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock worth $4,709,302,000 after buying an additional 13,927,416 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Cisco Systems by 23.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after purchasing an additional 11,972,070 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cisco Systems by 6.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock valued at $1,639,089,000 after purchasing an additional 2,987,682 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Cisco Systems by 8.3% during the 3rd quarter. Nordea Investment Management AB now owns 34,013,570 shares of the network equipment provider’s stock valued at $1,143,876,000 after purchasing an additional 2,617,310 shares during the last quarter. Finally, Boston Partners increased its position in shares of Cisco Systems by 11.2% during the 4th quarter. Boston Partners now owns 33,799,233 shares of the network equipment provider’s stock valued at $1,294,510,000 after purchasing an additional 3,397,848 shares during the last quarter. 77.40% of the stock is owned by institutional investors and hedge funds.

Cisco Systems opened at $43.21 on Friday, MarketBeat Ratings reports. Cisco Systems has a 1-year low of $45.14 and a 1-year high of $45.54. The company has a quick ratio of 2.38, a current ratio of 2.34 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $209.37 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 3.10 and a beta of 1.14.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. The business had revenue of $12.46 billion during the quarter, compared to the consensus estimate of $12.42 billion. During the same period in the prior year, the company posted $0.60 EPS. sell-side analysts expect that Cisco Systems will post 2.33 EPS for the current fiscal year.

Cisco Systems declared that its board has approved a share repurchase plan on Wednesday, February 14th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the network equipment provider to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Several equities research analysts have recently commented on the stock. Nomura raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 price target for the company in a research report on Monday, February 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $46.00 price target (up previously from $40.00) on shares of Cisco Systems in a research report on Thursday, February 15th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Wednesday, February 21st. Vetr lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $46.32 price target for the company. in a research report on Monday, April 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a research report on Thursday, February 15th. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $45.78.

In other Cisco Systems news, EVP David Goeckeler sold 20,671 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The stock was sold at an average price of $45.50, for a total value of $940,530.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director M Michele Burns sold 12,126 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $45.37, for a total value of $550,156.62. Following the completion of the transaction, the director now owns 74,479 shares of the company’s stock, valued at $3,379,112.23. The disclosure for this sale can be found here. Insiders sold a total of 46,986 shares of company stock valued at $2,116,422 over the last 90 days. 0.05% of the stock is currently owned by corporate insiders.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

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

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