Cisco Systems, Inc. (NASDAQ:CSCO) Stock Position Reduced by Axa

Axa lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 9.5% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,142,604 shares of the network equipment provider’s stock after selling 433,053 shares during the quarter. Cisco Systems comprises approximately 0.9% of Axa’s holdings, making the stock its 10th largest holding. Axa owned 0.10% of Cisco Systems worth $226,725,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CSCO. Thoroughbred Financial Services LLC lifted its stake in Cisco Systems by 5,677.4% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock worth $361,628,000 after purchasing an additional 3,553,686 shares in the last quarter. APG Asset Management N.V. lifted its stake in Cisco Systems by 28.5% in the 4th quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after purchasing an additional 2,472,300 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Cisco Systems in the 2nd quarter worth $125,277,000. Railway Pension Investments Ltd purchased a new stake in Cisco Systems in the 2nd quarter worth $10,371,000. Finally, Mn Services Vermogensbeheer B.V. lifted its stake in Cisco Systems by 241.5% in the 4th quarter. Mn Services Vermogensbeheer B.V. now owns 2,576,627 shares of the network equipment provider’s stock worth $97,665,000 after purchasing an additional 1,822,091 shares in the last quarter. Institutional investors and hedge funds own 72.89% of the company’s stock.

Shares of NASDAQ CSCO opened at $50.03 on Thursday. The firm’s 50-day moving average price is $50.44 and its 200-day moving average price is $53.70. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $206.24 billion, a price-to-earnings ratio of 17.55, a P/E/G ratio of 2.26 and a beta of 1.26. Cisco Systems, Inc. has a 12-month low of $40.25 and a 12-month high of $58.26.

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

In related news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $46.72, for a total value of $3,270,400.00. Following the sale, the chief financial officer now directly owns 277,548 shares of the company’s stock, valued at approximately $12,967,042.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mark D. Chandler sold 546 shares of the stock in a transaction dated 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. Corporate insiders own 0.03% of the company’s stock.

CSCO has been the topic of several research analyst reports. Robert W. Baird reiterated a “buy” rating and issued a $57.00 price target on shares of Cisco Systems in a research note on Monday, August 12th. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research report on Tuesday, May 21st. JPMorgan Chase & Co. set a $62.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research report on Monday, August 12th. UBS Group set a $58.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, BidaskClub cut shares of Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.72.

About Cisco Systems

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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