Cigna Investments Inc. New Has $6.29 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Cigna Investments Inc. New lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 159,948 shares of the network equipment provider’s stock after acquiring an additional 354 shares during the period. Cisco Systems makes up approximately 0.8% of Cigna Investments Inc. New’s investment portfolio, making the stock its 19th largest position. Cigna Investments Inc. New’s holdings in Cisco Systems were worth $6,288,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CSCO. Permanens Capital L.P. acquired a new position in shares of Cisco Systems in the fourth quarter valued at about $31,000. Lion Street Advisors LLC acquired a new position in shares of Cisco Systems in the first quarter valued at about $31,000. Bourgeon Capital Management LLC acquired a new stake in Cisco Systems during the first quarter worth about $32,000. Emerald Advisers LLC acquired a new stake in Cisco Systems during the fourth quarter worth about $38,000. Finally, Sageworth Trust Co grew its stake in Cisco Systems by 59.5% during the fourth quarter. Sageworth Trust Co now owns 804 shares of the network equipment provider’s stock worth $39,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 70.94% of the company’s stock.

NASDAQ CSCO traded up $0.26 during trading hours on Friday, reaching $44.90. The company’s stock had a trading volume of 12,395,086 shares, compared to its average volume of 23,230,478. The firm has a fifty day simple moving average of $42.08 and a 200-day simple moving average of $44.21. The stock has a market cap of $188.48 billion, a P/E ratio of 17.82, a P/E/G ratio of 2.89 and a beta of 0.97. Cisco Systems, Inc. has a 52 week low of $32.40 and a 52 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 issued its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 quarter last year, the business earned $0.78 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 2.86 earnings per share for the current year.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction that occurred 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 owns 308,241 shares in the company, valued at approximately $12,690,281.97. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.03% of the stock is owned by company insiders.

A number of equities research analysts have issued reports on CSCO shares. Nomura Instinet increased their price objective on shares of Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Standpoint Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, May 14th. MKM Partners increased their price objective on shares of Cisco Systems from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, May 14th. Finally, KeyCorp downgraded shares of Cisco Systems from an “overweight” rating to a “sector weight” rating in a research note on Friday, April 17th. Sixteen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $50.13.

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.

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

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