Community Financial Services Group LLC decreased its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 0.8% during the third quarter, Holdings Channel reports. The firm owned 232,350 shares of the network equipment provider’s stock after selling 1,887 shares during the period. Cisco Systems makes up about 3.5% of Community Financial Services Group LLC’s investment portfolio, making the stock its 4th largest position. Community Financial Services Group LLC’s holdings in Cisco Systems were worth $7,371,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Silvercrest Asset Management Group LLC boosted its stake in shares of Cisco Systems by 2.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 3,137,374 shares of the network equipment provider’s stock valued at $89,321,000 after buying an additional 79,859 shares during the period. Clark Capital Management Group Inc. boosted its stake in shares of Cisco Systems by 31.7% in the first quarter. Clark Capital Management Group Inc. now owns 473,572 shares of the network equipment provider’s stock valued at $13,483,000 after buying an additional 114,092 shares during the period. EFG Asset Management Americas Corp. purchased a new stake in shares of Cisco Systems during the first quarter valued at about $397,000. Envestnet Asset Management Inc. boosted its stake in shares of Cisco Systems by 3.0% in the first quarter. Envestnet Asset Management Inc. now owns 1,792,218 shares of the network equipment provider’s stock valued at $51,024,000 after buying an additional 52,053 shares during the period. Finally, Legal & General Group Plc boosted its stake in shares of Cisco Systems by 0.9% in the first quarter. Legal & General Group Plc now owns 22,258,293 shares of the network equipment provider’s stock valued at $633,708,000 after buying an additional 195,434 shares during the period. Institutional investors own 74.29% of the company’s stock.

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

Cisco Systems Inc. (NASDAQ:CSCO) traded up 0.2256% during mid-day trading on Tuesday, reaching $29.9875. The company’s stock had a trading volume of 12,177,536 shares. The stock’s 50-day moving average is $30.55 and its 200-day moving average is $30.16. The firm has a market capitalization of $150.53 billion, a PE ratio of 14.3481 and a beta of 1.42. Cisco Systems Inc. has a 12 month low of $22.46 and a 12 month high of $31.95.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.59 by $0.02. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The company had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.34 billion. During the same period last year, the company posted $0.59 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems Inc. will post $2.37 EPS for the current year.

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Several analysts recently weighed in on the company. Zacks Investment Research lowered Cisco Systems from a “hold” rating to a “sell” rating in a report on Monday. FBN Securities set a $35.00 price target on Cisco Systems and gave the company a “buy” rating in a report on Saturday, November 19th. Stifel Nicolaus assumed coverage on Cisco Systems in a report on Friday, November 18th. They set a “hold” rating and a $34.00 price target on the stock. Deutsche Bank AG set a $37.00 price target on Cisco Systems and gave the company a “buy” rating in a report on Thursday, November 17th. Finally, Oppenheimer Holdings Inc. restated a “buy” rating and set a $34.00 price target on shares of Cisco Systems in a report on Thursday, November 17th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $32.73.

In other news, EVP Chris Dedicoat sold 60,000 shares of Cisco Systems stock in a transaction dated Friday, September 16th. The stock was sold at an average price of $30.87, for a total transaction of $1,852,200.00. Following the sale, the executive vice president now directly owns 214,605 shares of the company’s stock, valued at $6,624,856.35. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Prat Bhatt sold 25,706 shares of Cisco Systems stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $31.02, for a total value of $797,400.12. Following the sale, the senior vice president now directly owns 133,113 shares in the company, valued at $4,129,165.26. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.

Cisco Systems Company Profile

Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

5 Day Chart for NASDAQ:CSCO

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