Beck Bode LLC Sells 113,479 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Beck Bode LLC decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 82.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,823 shares of the network equipment provider’s stock after selling 113,479 shares during the quarter. Beck Bode LLC’s holdings in Cisco Systems were worth $1,227,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen Asset Management LLC lifted its position in Cisco Systems by 1,546.1% during the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock valued at $2,642,650,000 after purchasing an additional 45,351,980 shares during the last quarter. Fisher Asset Management LLC grew its position in Cisco Systems by 2.8% in the third quarter. Fisher Asset Management LLC now owns 30,517,061 shares of the network equipment provider’s stock worth $1,507,848,000 after acquiring an additional 839,300 shares during the period. Massachusetts Financial Services Co. MA grew its position in Cisco Systems by 13.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 21,589,214 shares of the network equipment provider’s stock worth $1,066,724,000 after acquiring an additional 2,496,113 shares during the period. UBS Asset Management Americas Inc. increased its stake in Cisco Systems by 2.6% during the second quarter. UBS Asset Management Americas Inc. now owns 18,929,924 shares of the network equipment provider’s stock worth $1,036,035,000 after acquiring an additional 478,368 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Cisco Systems by 155.6% during the third quarter. First Trust Advisors LP now owns 17,446,107 shares of the network equipment provider’s stock worth $862,012,000 after acquiring an additional 10,621,798 shares during the last quarter. 72.62% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems stock traded down $0.79 during midday trading on Tuesday, reaching $43.91. The company’s stock had a trading volume of 7,096,568 shares, compared to its average volume of 20,747,082. Cisco Systems, Inc. has a fifty-two week low of $40.25 and a fifty-two week high of $58.26. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 0.42. The company has a market cap of $192.22 billion, a P/E ratio of 15.41, a P/E/G ratio of 2.57 and a beta of 1.22. The business has a 50-day simple moving average of $46.48 and a 200-day simple moving average of $51.03.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.03. The company had revenue of $13.16 billion during the quarter, compared to the consensus estimate of $13.09 billion. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. Cisco Systems’s revenue for the quarter was up .7% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.94 earnings per share for the current year.

In related news, CEO Charles Robbins sold 18,955 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $50.04, for a total value of $948,508.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mark D. Chandler sold 10,733 shares of Cisco Systems stock in a transaction on Friday, September 13th. The stock was sold at an average price of $50.05, for a total transaction of $537,186.65. The disclosure for this sale can be found here. Insiders have sold a total of 511,314 shares of company stock worth $23,530,971 in the last three months. Corporate insiders own 0.03% of the company’s stock.

Several brokerages have commented on CSCO. Evercore ISI started coverage on shares of Cisco Systems in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $60.00 price target for the company. KeyCorp cut their price objective on Cisco Systems from $54.00 to $52.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Bank of America cut their price objective on Cisco Systems from $62.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Morgan Stanley reduced their price objective on Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. Finally, Wells Fargo & Co reiterated a “buy” rating and issued a $58.00 target price (down from $60.00) on shares of Cisco Systems in a report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the company. Cisco Systems has a consensus rating of “Buy” and an average target price of $54.53.

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.

Read More: Why are trading ranges significant?

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCO).

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.