Principal Financial Group Inc. Has $326.76 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Principal Financial Group Inc. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,165,201 shares of the network equipment provider’s stock after selling 128,346 shares during the quarter. Principal Financial Group Inc. owned approximately 0.15% of Cisco Systems worth $326,756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Lokken Investment Group LLC raised its stake in shares of Cisco Systems by 7.4% in the 2nd quarter. Lokken Investment Group LLC now owns 14,500 shares of the network equipment provider’s stock valued at $768,000 after acquiring an additional 999 shares in the last quarter. Princeton Portfolio Strategies Group LLC increased its position in Cisco Systems by 13.7% in the 1st quarter. Princeton Portfolio Strategies Group LLC now owns 41,483 shares of the network equipment provider’s stock worth $2,145,000 after buying an additional 4,992 shares during the period. FDx Advisors Inc. increased its position in Cisco Systems by 6.6% in the 2nd quarter. FDx Advisors Inc. now owns 298,191 shares of the network equipment provider’s stock worth $15,804,000 after buying an additional 18,502 shares during the period. Procyon Private Wealth Partners LLC increased its position in Cisco Systems by 26.5% in the 2nd quarter. Procyon Private Wealth Partners LLC now owns 53,084 shares of the network equipment provider’s stock worth $2,813,000 after buying an additional 11,109 shares during the period. Finally, Employees Retirement System of Texas bought a new position in Cisco Systems in the 1st quarter worth approximately $18,921,000. Institutional investors and hedge funds own 71.92% of the company’s stock.

In other news, COO Maria Martinez sold 4,000 shares of the company’s stock in a transaction on Monday, August 23rd. The stock was sold at an average price of $58.52, for a total transaction of $234,080.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 6,543 shares of the company’s stock in a transaction on Wednesday, August 25th. The shares were sold at an average price of $59.69, for a total value of $390,551.67. The disclosure for this sale can be found here. Insiders have sold 64,529 shares of company stock worth $3,827,391 in the last ninety days. 0.02% of the stock is currently owned by insiders.

Several research analysts have commented on the company. Credit Suisse Group set a $56.00 price target on Cisco Systems in a research report on Wednesday, August 25th. Raymond James lifted their price target on Cisco Systems from $55.00 to $57.00 and gave the stock an “outperform” rating in a research report on Thursday, August 19th. Citigroup boosted their price objective on Cisco Systems from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 19th. Wells Fargo & Company boosted their price objective on Cisco Systems from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Thursday, September 9th. Finally, DZ Bank restated a “hold” rating and set a $51.00 price objective on shares of Cisco Systems in a research report on Thursday, May 27th. Eleven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Buy” and an average price target of $56.19.

Cisco Systems stock opened at $57.61 on Wednesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.43 and a current ratio of 1.49. The firm has a market cap of $242.98 billion, a P/E ratio of 23.15, a P/E/G ratio of 3.01 and a beta of 0.91. The business’s fifty day moving average is $56.34 and its two-hundred day moving average is $53.33. Cisco Systems, Inc. has a 52 week low of $35.28 and a 52 week high of $60.27.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Tuesday, August 17th. The network equipment provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.01. The company had revenue of $13.13 billion for the quarter, compared to analyst estimates of $13.04 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.26%. The business’s revenue was up 8.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.08 earnings per share for the current year.

Cisco Systems Company Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

Further Reading: What sectors are represented in the Nikkei Index?

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.