Cisco beats estimates, boosts buyback program by $25B

Ivan Schwartz
February 17, 2018

The institutional investor held 177,637 shares of the consumer electronics and appliances company at the end of 2017Q3, valued at $4.30 million, up from 102,615 at the end of the previous reported quarter.

Hedge funds have recently modified their holdings of the stock.

The stock increased 2.58% or $2.09 during the last trading session, reaching $83.16. Swing traders and investors have a little more leeway and therefore may trade stocks with lower volume, around 500,000 and 100,000 shares or more per day, respectively. It has outperformed by 7.46% the S&P500. On a per-share basis, the San Jose, California-based company said it had a loss of $1.78. Loews Corp who had been investing in Cisco Systems Inc for a number of months, seems to be bullish on the $215.47B market cap company. The stock increased 4.26% or $1.795 during the last trading session, reaching $43.885. The stock had a trading volume of 43,788,000 shares, compared to its average volume of 28,479,959. Cisco Systems, Inc. (NASDAQ:CSCO) has risen 13.20% since February 14, 2017 and is uptrending. Its up 0.06, from 0.55 in 2017Q2. Automobile Association invested in 0.83% or 8.48 million shares. Following the transaction, the senior vice president now directly owns 257,476 shares of the company's stock, valued at $9,892,227.92. California Pub Employees Retirement Systems holds 0% in Hugoton Royalty Trust (NYSE:HGT) or 186,000 shares. (NASDAQ:CSCO) or 2.29 million shares. Gilder Gagnon Howe & Com holds 0.02% of its portfolio in Caesars Entertainment Corporation (NASDAQ:CZR) for 121,829 shares. Albion Gp Ut has 177,558 shares for 0.91% of their portfolio. The Davidson Kempner Capital Management Lp holds 1.66 million shares with $22.10 million value, up from 450,000 last quarter. (NASDAQ:CSCO). Wendell David reported 0.45% stake. Following the completion of the transaction, the senior vice president now owns 176,418 shares in the company, valued at approximately $6,437,492.82. Moreover, Great West Life Assurance Can has 0% invested in Cardiovascular Systems, Inc. Stillwater Capital Advsrs Ltd Company holds 223,934 shares. Nomura Inc invested in 0% or 103,011 shares.

Among 3 analysts covering ChemoCentryx (NASDAQ:CCXI), 1 have Buy rating, 1 Sell and 1 Hold. (NASDAQ:CSCO) was sold by CHAMBERS JOHN T on Wednesday, August 23. The stock of Cardiovascular Systems, Inc. The stock presently has a consensus rating of "Buy" and a consensus price target of $42.41. Citigroup has "Buy" rating and $30 target. The company has market cap of $217.92 billion. The stock of Mastercard Incorporated (NYSE:MA) earned "Buy" rating by Bank of America on Thursday, December 15. (NYSE:HRC). Nationwide Fund Advsr reported 286,794 shares.

Since August 23, 2017, it had 0 buys, and 7 insider sales for $23.51 million activity. (NASDAQ:CCXI) has "Sell" rating given on Thursday, September 3 by Zacks. CHANDLER MARK D had sold 65,000 shares worth $2.11 million on Monday, September 18. On Thursday, December 14 the insider MCGEARY RODERICK C sold $578,740.

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For Q3 F2018, he now estimates Cisco Systems earnings at 64 cents per share on $12.35 billion in sales. SELL rating has been given by 0 analyst (s) and 10 analyst (s) given BUY rating to the stock. Therefore 33% are positive.

Cisco Systems, Inc. (CSCO) is expected to post revenue of $12.37 Billion in the current quarter, according to consensus of 18 analysts. Finally, Manchester Capital Management LLC increased its position in shares of Cisco Systems by 10.7% in the second quarter.

"We have consistently argued that Cisco is a "rerating" story with an accelerating mix shift to stickier and higher margin software and subscriptions portfolio", Deutsche Bank analyst Vijay Bhagavath said. The rating was maintained by Cowen & Co on Tuesday, October 31 with "Buy". RBC Capital Markets maintained it with "Outperform" rating and $37 target in Thursday, February 16 report. Argus Research has "Buy" rating and $36.0 target. The rating was maintained by KeyBanc Capital Markets on Wednesday, January 17 with "Buy". As per Friday, June 23, the company rating was maintained by Drexel Hamilton. As per Wednesday, June 14, the company rating was maintained by Oppenheimer. It also reduced Blackrock (NYSE:BLK) stake by 6,647 shares and now owns 38,359 shares.

Investors sentiment decreased to 1.14 in Q3 2017. Its up 0.01, from 1.25 in 2017Q2. (NASDAQ:CSCO) shares were sold by BARTZ CAROL. 25 funds opened positions while 56 raised stakes. State Of Alaska Department Of Revenue accumulated 66,561 shares. Newman Dignan & Sheerar invested in 0.95% or 53,019 shares.

Cisco has made some small inroads with large cloud computing providers such as Microsoft Corp., Google Inc. and China's Alibaba Group Holding Ltd., most of which have typically built their own networking hardware. (NASDAQ:CSCO) was sold by Walker Karen on Monday, September 11. Fulton National Bank Na holds 0.23% or 92,304 shares. Adirondack stated it has 0.58% in Cisco Systems, Inc. (NASDAQ:CSCO). Page Arthur B holds 0.29% of its portfolio in Cisco Systems, Inc. (NASDAQ:CSCO) for 27.75M shares. (NASDAQ:CSCO). Associated Banc stated it has 475,608 shares or 0.88% of all its holdings. Altfest L J Com invested 0.8% in Cisco Systems, Inc. (NASDAQ:CSCO). Mitchell Sinkler Starr Pa holds 0.88% or 16,721 shares.

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