Midwest Professional Planners LTD. Makes New Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Midwest Professional Planners LTD. bought a new position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, Holdings Channel reports. The institutional investor bought 6,799 shares of the network equipment provider’s stock, valued at approximately $360,000.

A number of other institutional investors also recently added to or reduced their stakes in CSCO. BlackRock Inc. raised its stake in shares of Cisco Systems by 2.2% in the first quarter. BlackRock Inc. now owns 334,979,843 shares of the network equipment provider’s stock worth $17,321,808,000 after purchasing an additional 7,282,145 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Cisco Systems by 3.1% in the first quarter. Geode Capital Management LLC now owns 69,440,752 shares of the network equipment provider’s stock worth $3,581,548,000 after purchasing an additional 2,062,223 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of Cisco Systems by 1.3% in the first quarter. Ameriprise Financial Inc. now owns 54,346,309 shares of the network equipment provider’s stock worth $2,811,048,000 after purchasing an additional 710,318 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Cisco Systems by 35.7% in the first quarter. Nuveen Asset Management LLC now owns 44,857,692 shares of the network equipment provider’s stock worth $2,319,591,000 after purchasing an additional 11,791,493 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Cisco Systems by 9.9% in the first quarter. Morgan Stanley now owns 42,815,350 shares of the network equipment provider’s stock worth $2,213,982,000 after purchasing an additional 3,867,546 shares during the last quarter. 71.92% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems stock traded down $0.01 during midday trading on Wednesday, reaching $57.86. 115,265 shares of the stock traded hands, compared to its average volume of 18,916,217. The stock’s fifty day moving average is $56.34 and its 200-day moving average is $53.33. Cisco Systems, Inc. has a 12 month low of $35.28 and a 12 month high of $60.27. The stock has a market cap of $244.04 billion, a P/E ratio of 23.15, a PEG ratio of 3.01 and a beta of 0.91. 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 (NASDAQ:CSCO) last announced its quarterly earnings results on Tuesday, August 17th. The network equipment provider reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $13.13 billion during the quarter, compared to analyst estimates of $13.04 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.26%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.80 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 3.08 EPS for the current fiscal year.

In other news, EVP Geraldine Elliott sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 25th. The stock was sold at an average price of $59.40, for a total value of $2,970,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 6,543 shares of the stock in a transaction that occurred on Wednesday, August 25th. The stock was sold at an average price of $59.69, for a total value of $390,551.67. The disclosure for this sale can be found here. Insiders sold a total of 64,529 shares of company stock valued at $3,827,391 over the last ninety days. Corporate insiders own 0.02% of the company’s stock.

A number of analysts recently commented on CSCO shares. JPMorgan Chase & Co. upped their price objective on Cisco Systems from $62.00 to $67.00 and gave the company an “overweight” rating in a research report on Tuesday. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft upped their price objective on Cisco Systems from $55.00 to $59.00 and gave the company a “hold” rating in a research report on Tuesday, August 24th. Barclays upped their price target on Cisco Systems from $55.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, August 19th. They noted that the move was a valuation call. William Blair restated a “market perform” rating on shares of Cisco Systems in a research report on Thursday, May 20th. Finally, Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $58.00 price target for the company in a research report on Tuesday, July 27th. Eleven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Buy” and an average target price of $56.19.

Cisco Systems 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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