Cisco Systems, Inc. $CSCO Shares Sold by Maple Capital Management Inc.

Maple Capital Management Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 17.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,834 shares of the network equipment provider’s stock after selling 1,896 shares during the period. Maple Capital Management Inc.’s holdings in Cisco Systems were worth $613,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CSCO. Drive Wealth Management LLC lifted its holdings in Cisco Systems by 2.7% during the 2nd quarter. Drive Wealth Management LLC now owns 16,605 shares of the network equipment provider’s stock worth $1,152,000 after buying an additional 436 shares during the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of Cisco Systems by 0.7% during the 1st quarter. Kornitzer Capital Management Inc. KS now owns 892,064 shares of the network equipment provider’s stock valued at $55,049,000 after acquiring an additional 6,501 shares in the last quarter. Shell Asset Management Co. raised its position in shares of Cisco Systems by 53.3% during the 2nd quarter. Shell Asset Management Co. now owns 77,234 shares of the network equipment provider’s stock valued at $5,358,000 after acquiring an additional 26,840 shares in the last quarter. Guinness Asset Management LTD lifted its stake in Cisco Systems by 15.9% during the second quarter. Guinness Asset Management LTD now owns 4,389,728 shares of the network equipment provider’s stock worth $304,451,000 after purchasing an additional 603,131 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Cisco Systems by 255.9% in the first quarter. Acadian Asset Management LLC now owns 7,819,547 shares of the network equipment provider’s stock worth $482,509,000 after purchasing an additional 5,622,672 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 30,557 shares of the business’s stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $66.63, for a total transaction of $2,036,012.91. Following the sale, the chief executive officer owned 639,000 shares of the company’s stock, valued at $42,576,570. The trade was a 4.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Oliver Tuszik sold 17,526 shares of the stock in a transaction on Friday, September 19th. The shares were sold at an average price of $67.95, for a total value of $1,190,891.70. Following the transaction, the executive vice president directly owned 198,855 shares of the company’s stock, valued at approximately $13,512,197.25. The trade was a 8.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 82,965 shares of company stock valued at $5,559,996. 0.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $75.00 to $83.00 and gave the company an “overweight” rating in a research report on Thursday, August 14th. Evercore ISI increased their price target on Cisco Systems from $72.00 to $74.00 and gave the stock an “in-line” rating in a research report on Thursday, August 14th. Erste Group Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Monday. Morgan Stanley increased their target price on Cisco Systems from $73.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, October 10th. Finally, Rosenblatt Securities reissued a “buy” rating and set a $87.00 price target on shares of Cisco Systems in a report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.50.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $71.71 on Wednesday. The stock has a market cap of $282.59 billion, a P/E ratio of 27.37, a P/E/G ratio of 3.00 and a beta of 0.95. The firm’s 50-day simple moving average is $69.33 and its 200 day simple moving average is $67.16. Cisco Systems, Inc. has a fifty-two week low of $52.11 and a fifty-two week high of $74.84. The company has a quick ratio of 0.91, a current ratio of 1.00 and a debt-to-equity ratio of 0.49.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. The firm had revenue of $14.67 billion for the quarter, compared to analysts’ expectations of $14.63 billion. Cisco Systems had a net margin of 18.45% and a return on equity of 27.06%. Cisco Systems’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.