L & S Advisors Inc Cuts Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Share on StockTwits

L & S Advisors Inc lessened its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 24.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,664 shares of the network equipment provider’s stock after selling 33,600 shares during the quarter. L & S Advisors Inc’s holdings in Cisco Systems were worth $5,838,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Qtron Investments LLC increased its holdings in shares of Cisco Systems by 42.6% in the 2nd quarter. Qtron Investments LLC now owns 24,484 shares of the network equipment provider’s stock valued at $1,340,000 after purchasing an additional 7,319 shares in the last quarter. Intrepid Capital Management Inc. increased its holdings in Cisco Systems by 1.4% during the 2nd quarter. Intrepid Capital Management Inc. now owns 64,914 shares of the network equipment provider’s stock valued at $3,553,000 after acquiring an additional 875 shares in the last quarter. Sontag Advisory LLC purchased a new position in Cisco Systems during the 2nd quarter valued at about $334,000. Chilton Capital Management LLC increased its holdings in Cisco Systems by 1.4% during the 2nd quarter. Chilton Capital Management LLC now owns 244,550 shares of the network equipment provider’s stock valued at $13,384,000 after acquiring an additional 3,433 shares in the last quarter. Finally, Miles Capital Inc. increased its holdings in Cisco Systems by 5.1% during the 2nd quarter. Miles Capital Inc. now owns 15,280 shares of the network equipment provider’s stock valued at $836,000 after acquiring an additional 737 shares in the last quarter. Institutional investors and hedge funds own 72.89% of the company’s stock.

Shares of CSCO stock opened at $50.03 on Friday. The stock has a market cap of $212.43 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 2.29 and a beta of 1.26. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $58.26. The firm’s 50 day moving average price is $50.44 and its two-hundred day moving average price is $53.70.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. Cisco Systems’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.70 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.06 EPS for the current fiscal year.

Several equities analysts have weighed in on CSCO shares. JPMorgan Chase & Co. set a $62.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a report on Monday, August 12th. Tigress Financial restated a “buy” rating on shares of Cisco Systems in a report on Thursday, June 27th. Raymond James restated an “overweight” rating on shares of Cisco Systems in a report on Friday, August 16th. Cowen dropped their target price on shares of Cisco Systems from $65.00 to $61.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Finally, Morgan Stanley lowered their price target on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $56.72.

In other news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total transaction of $3,270,400.00. Following the transaction, the chief financial officer now directly owns 277,548 shares of the company’s stock, valued at $12,967,042.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mark D. Chandler sold 546 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $47.92, for a total transaction of $26,164.32. The disclosure for this sale can be found here. Insiders own 0.03% of the company’s stock.

Cisco Systems Company 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.

Further Reading: What is the formula for calculating total return?

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.

 


Latest News

Yu Darvish Receives Cortisone Shot for Elbow Impingement
Yu Darvish Receives Cortisone Shot for Elbow Impingement
Red Sox and Brandon Phillips Agree to Minor League Deal
Red Sox and Brandon Phillips Agree to Minor League Deal
Chris Sale Proves He is 2018 AL Cy Young Candidate
Chris Sale Proves He is 2018 AL Cy Young Candidate
Strong Results by Clint Frazier Could Keep Him with Yankees
Strong Results by Clint Frazier Could Keep Him with Yankees
Giants Closer Breaks Hand Punching Door Following Poor Outing
Giants Closer Breaks Hand Punching Door Following Poor Outing
Evan Longoria Out Six to Eight Weeks With Broken Hand
Evan Longoria Out Six to Eight Weeks With Broken Hand


 
© 2006-2019 BBNS.