Insigneo Advisory Services LLC has recently increased its position in shares of Cisco Systems, Inc., according to a Form 13F filing with the Securities and Exchange Commission. The institutional investor now owns 22,859 shares of Cisco Systems after acquiring an additional 5,387 shares during the first quarter. The total value of Insigneo Advisory Services’ holdings in Cisco Systems is estimated to be $1,194,000.
Cisco Systems reported its earnings results on August 16th and exceeded expectations with earnings per share of $1.14 for the quarter, surpassing the consensus estimate of $1.06 by $0.08. The company’s net margin was recorded at 22.13% and it achieved a return on equity of 33.42%. Cisco Systems generated a revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.05 billion. These positive financial results indicate growth as the firm’s revenue for the quarter increased by 16% compared to the same period last year.
Various equities analysts have expressed their views on Cisco Systems’ performance through reports and ratings. Oppenheimer reiterated an “outperform” rating and assigned a price objective of $58.00 for Cisco Systems’ shares in August 2023. Deutsche Bank Aktiengesellschaft also provided coverage on Cisco Systems and raised its target price from $54.00 to $58.00 while maintaining a “hold” rating.
JPMorgan Chase & Co., meanwhile, upgraded their rating for Cisco Systems from “neutral” to “overweight” in July 2023 and increased their target price from $55.00 to $62.00 for the stock.
Evercore ISI gave an “outperform” rating to Cisco Systems’ shares in August 2023, setting a target price of $63.00.
On the other hand, BNP Paribas initiated coverage on Cisco Systems in July 2023 with an “underperform” rating and a target price of $45.00.
Currently, Bloomberg.com reports that Cisco Systems has a consensus rating of “Hold” among analysts, with a consensus price target of $59.23.
These various analyst views provide investors with insight into the potential of Cisco Systems as a sound investment option.
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Institutional Investors Increase Holdings in Cisco Systems, Reflecting Confidence in Growth Potential
August 26, 2023 – In recent news, a number of institutional investors and hedge funds have made significant modifications to their holdings in Cisco Systems, a leading network equipment provider. Lifestyle Asset Management Inc., for instance, has increased its stake in the company by 8.1% during the first quarter. This boost translates to an additional 361 shares valued at $253,000.
Joining Lifestyle Asset Management Inc., Allred Capital Management LLC also fortified its position in Cisco Systems by 3.5% during the fourth quarter. As a result, they now own 15,925 shares worth $759,000. Moreover, Atwood & Palmer Inc. boosted their stake in the company by 1.2% during the first quarter to a total of 517,457 shares worth $27,050,000 after acquiring an additional 5,919 shares.
Abner Herrman & Brock LLC was not far behind as they acquired a new position in Cisco Systems during the first quarter valued at $210,000. In a similar vein, Vantage Investment Partners LLC increased its stake in the company by 4.1%, equating to an additional 8,995 shares valued at $12,053,000.
It is interesting to note that institutional investors and hedge funds now own approximately 71.96% of Cisco Systems’ stock. This indicates a high degree of involvement from these financial entities and underlines their confidence in the company’s growth potential.
In other developments regarding Cisco Systems’ stock activity and management team movements, Director Roderick C. Mcgeary sold 10,000 shares on June 14th at an average price of $50.96 per share for a total value of $509,600.
Following this sale transaction, Mcgeary currently holds approximately 103,992 shares directly within the company with an estimated value of $5,299,432.
Similarly, SVP Prat Bhatt sold 608 shares of Cisco Systems on June 13th at an average price of $50.61 per share. The total value of this transaction amounted to $30,770.88, leaving Bhatt with 45,092 shares in the company worth approximately $2,282,106.
These stock sales and transactions were duly filed and disclosed with the Securities & Exchange Commission (SEC) through documents accessible on their website.
Interestingly, Director Roderick C. Mcgeary conducted another sale transaction on June 14th when he sold an additional 10,000 shares of the firm’s stock at an average price of $50.96 per share for a total value of $509,600.
Following this sale as well, Mcgeary now owns 103,992 shares valued at around $5,299,432.
In terms of insider trading activity over the past ninety days, insiders have collectively sold a total of 64,820 shares valued at $3,459,946. This accounts for approximately 0.02% of the company’s stock currently owned by insiders.
On this note, it is important to observe that Cisco Systems’ stock (CSCO) experienced some fluctuations recently and closed at $55.70 on Friday after gaining $0.46 in trading activity that saw a total exchange volume of 15,730,492 shares. These figures are compared to its average daily volume which stands at 18,701-314 shares.
As for the company’s financial standing and market position, Cisco Systems Inc., currently carrying a debt-to-equity ratio of 0.15 along with a quick ratio standing at 1.27 and a current ratio set at 1.38 holds a significant market capitalization amounting to around $226.98 billion.
Additionally exhibiting impressive performance indicators are Cisco System’s price-to-earnings ratio resting at 18.07 and the price-to-earnings-growth ratio, which sits at 2.48. These metrics effectively underline the company’s promising prospects for future growth.
In conclusion, institutional investors and hedge funds continue to modify their holdings in Cisco Systems, reflecting their unwavering support and confidence in the company’s trajectory. Furthermore, recent stock sales by key members of the management team indicate ongoing liquidity movement within the organization. Cisco Systems’ stock performance has seen some fluctuations but remains a solid investment option considering its substantial market capitalization and positive performance indicators.
