Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Decreases Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

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Mitsubishi UFJ Kokusai Asset Management Co. Ltd. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 942,053 shares of the network equipment provider’s stock after selling 25,926 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Cisco Systems were worth $37,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CSCO. Permanens Capital L.P. purchased a new position in Cisco Systems in the 4th quarter worth approximately $31,000. Lion Street Advisors LLC acquired a new stake in shares of Cisco Systems during the 1st quarter worth approximately $31,000. Bourgeon Capital Management LLC acquired a new stake in shares of Cisco Systems during the 1st quarter worth approximately $32,000. Emerald Advisers LLC acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $38,000. Finally, Sageworth Trust Co increased its holdings in shares of Cisco Systems by 59.5% during the 4th quarter. Sageworth Trust Co now owns 804 shares of the network equipment provider’s stock worth $39,000 after buying an additional 300 shares during the last quarter. 70.94% of the stock is currently owned by institutional investors and hedge funds.

CSCO has been the subject of a number of recent analyst reports. Credit Suisse Group raised their price target on shares of Cisco Systems from $40.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Goldman Sachs Group reiterated a “hold” rating and issued a $48.00 target price on shares of Cisco Systems in a report on Thursday, February 13th. Citigroup lifted their price objective on shares of Cisco Systems from $40.00 to $48.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. Nomura lifted their price objective on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, May 14th. Finally, Barclays lifted their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Thursday, May 14th. Sixteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $50.13.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $41.17, for a total transaction of $2,881,900.00. Following the completion of the transaction, the chief financial officer now directly owns 308,241 shares of the company’s stock, valued at approximately $12,690,281.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.03% of the stock is currently owned by company insiders.

CSCO traded up $0.23 during trading hours on Friday, reaching $44.87. 7,190,869 shares of the stock traded hands, compared to its average volume of 23,101,742. The firm’s fifty day simple moving average is $41.98 and its two-hundred day simple moving average is $44.22. The company has a market cap of $191.86 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 2.94 and a beta of 0.97. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $58.26. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.59 and a quick ratio of 1.55.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.10. The business had revenue of $11.98 billion during the quarter, compared to analyst estimates of $11.87 billion. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. During the same period last year, the business earned $0.78 EPS. On average, research analysts predict that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.

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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