MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Stock Position in Cisco Systems, Inc. $CSCO

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 9.5% during the third quarter, Holdings Channel reports. The institutional investor owned 5,189,973 shares of the network equipment provider’s stock after buying an additional 449,878 shares during the period. Cisco Systems makes up about 0.6% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings, making the stock its 25th largest position. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Cisco Systems were worth $355,051,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Cisco Systems by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 393,989,568 shares of the network equipment provider’s stock valued at $27,334,996,000 after acquiring an additional 5,039,714 shares during the last quarter. State Street Corp lifted its stake in Cisco Systems by 0.6% during the second quarter. State Street Corp now owns 194,695,250 shares of the network equipment provider’s stock worth $13,507,956,000 after purchasing an additional 1,067,872 shares during the last quarter. Norges Bank acquired a new position in Cisco Systems in the second quarter valued at approximately $3,816,825,000. Invesco Ltd. increased its stake in Cisco Systems by 10.5% in the third quarter. Invesco Ltd. now owns 53,612,720 shares of the network equipment provider’s stock valued at $3,668,182,000 after purchasing an additional 5,081,469 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Cisco Systems by 4.4% in the third quarter. Franklin Resources Inc. now owns 42,641,483 shares of the network equipment provider’s stock valued at $2,917,530,000 after purchasing an additional 1,804,625 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 0.7%

Cisco Systems stock opened at $78.90 on Tuesday. Cisco Systems, Inc. has a twelve month low of $52.11 and a twelve month high of $88.18. The stock has a 50 day moving average of $78.08 and a two-hundred day moving average of $74.60. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The stock has a market capitalization of $311.65 billion, a price-to-earnings ratio of 27.68, a PEG ratio of 2.96 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same quarter in the previous year, the company posted $0.94 earnings per share. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date is Thursday, April 2nd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s payout ratio is currently 57.54%.

Key Stories Impacting Cisco Systems

Here are the key news stories impacting Cisco Systems this week:

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CSCO shares. President Capital reduced their price objective on shares of Cisco Systems from $90.00 to $88.00 in a research report on Wednesday, December 24th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $100.00 target price on shares of Cisco Systems in a research report on Thursday, February 12th. Evercore upgraded shares of Cisco Systems from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $100.00 in a research note on Monday, January 26th. Citic Securities boosted their price target on shares of Cisco Systems from $75.00 to $90.00 in a research report on Monday, November 17th. Finally, Zacks Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.55.

Read Our Latest Stock Analysis on Cisco Systems

Insider Buying and Selling

In other news, insider Jeetendra I. Patel sold 11,248 shares of the firm’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $854,848.00. Following the completion of the sale, the insider owned 262,776 shares in the company, valued at approximately $19,970,976. This trade represents a 4.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael D. Capellas sold 10,850 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $77.13, for a total transaction of $836,860.50. Following the transaction, the director owned 146,368 shares in the company, valued at approximately $11,289,363.84. This trade represents a 6.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 75,799 shares of company stock worth $5,815,306. 0.01% of the stock is currently owned by insiders.

About Cisco Systems

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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

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