Zurich Insurance Group Ltd FI grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 826,487 shares of the network equipment provider’s stock after purchasing an additional 105,604 shares during the period. Cisco Systems comprises approximately 0.9% of Zurich Insurance Group Ltd FI’s holdings, making the stock its 21st largest holding. Zurich Insurance Group Ltd FI’s holdings in Cisco Systems were worth $45,234,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Thoroughbred Financial Services LLC lifted its stake in shares of 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 valued at $361,628,000 after purchasing an additional 3,553,686 shares during the last quarter. APG Asset Management N.V. boosted its position in shares of Cisco Systems by 28.5% during the fourth quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after buying an additional 2,472,300 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Cisco Systems during the second quarter worth approximately $125,277,000. Railway Pension Investments Ltd acquired a new position in shares of Cisco Systems during the second quarter worth approximately $10,371,000. Finally, Mn Services Vermogensbeheer B.V. boosted its position in shares of Cisco Systems by 241.5% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 2,576,627 shares of the network equipment provider’s stock worth $97,665,000 after buying an additional 1,822,091 shares during the period. Institutional investors and hedge funds own 73.31% of the company’s stock.

Shares of NASDAQ:CSCO remained flat at $$49.19 on Friday. The stock had a trading volume of 7,691,483 shares, compared to its average volume of 16,562,429. Cisco Systems, Inc. has a one year low of $40.25 and a one year high of $58.26. The firm has a fifty day simple moving average of $49.46 and a 200 day simple moving average of $53.65. The stock has a market cap of $209.76 billion, a PE ratio of 17.26, a PEG ratio of 2.30 and a beta of 1.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46.

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

In other news, EVP Mark D. Chandler sold 546 shares of the 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Irving Tan sold 22,896 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $1,131,520.32. Following the sale, the senior vice president now directly owns 154,819 shares in the company, valued at $7,651,154.98. The disclosure for this sale can be found here. Insiders have sold a total of 123,130 shares of company stock valued at $5,913,779 in the last quarter. Insiders own 0.03% of the company’s stock.

Several brokerages have recently issued reports on CSCO. Credit Suisse Group set a $50.00 price objective on Cisco Systems and gave the stock a “neutral” rating in a research report on Tuesday, August 27th. Morgan Stanley reduced their price objective on Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Royal Bank of Canada reduced their price objective on Cisco Systems from $64.00 to $53.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Robert W. Baird set a $54.00 target price on Cisco Systems and gave the stock a “buy” rating in a research report on Friday, September 13th. Finally, BidaskClub downgraded 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 assigned a hold rating and twenty-one have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $56.60.

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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