Miracle Mile Advisors LLC Buys 1,503 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Miracle Mile Advisors LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 12,436 shares of the network equipment provider’s stock after acquiring an additional 1,503 shares during the period. Miracle Mile Advisors LLC’s holdings in Cisco Systems were worth $662,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CSCO. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after purchasing an additional 2,663,676 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock worth $36,847,000 after acquiring an additional 288,775 shares in the last quarter. Marcum Wealth LLC lifted its holdings in shares of Cisco Systems by 4.0% in the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after acquiring an additional 943 shares during the last quarter. Citizens Financial Group Inc. RI boosted its stake in shares of Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after purchasing an additional 51,924 shares in the last quarter. Finally, Inscription Capital LLC grew its holdings in shares of Cisco Systems by 49.4% during the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after purchasing an additional 15,198 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.02% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. Jefferies Financial Group dropped their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Rosenblatt Securities lifted their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $55.00.

Cisco Systems Price Performance

Shares of CSCO stock opened at $52.73 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $212.44 billion, a price-to-earnings ratio of 17.75, a PEG ratio of 4.11 and a beta of 0.83. The business’s fifty day moving average is $49.67 and its 200 day moving average is $48.28. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $54.58.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period last year, the business earned $1.01 EPS. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. Research analysts expect that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.