Mirae Asset Global Investments Co. Ltd. Has $152.38 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 9.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,557,874 shares of the network equipment provider’s stock after buying an additional 219,831 shares during the period. Cisco Systems makes up about 0.6% of Mirae Asset Global Investments Co. Ltd.’s portfolio, making the stock its 23rd largest position. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Cisco Systems worth $152,384,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CSCO. Morse Asset Management Inc purchased a new position in Cisco Systems during the 3rd quarter worth $798,000. HighVista Strategies LLC bought a new stake in Cisco Systems in the 3rd quarter worth about $1,698,000. GAMMA Investing LLC increased its stake in Cisco Systems by 13.1% in the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after buying an additional 10,813 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after buying an additional 162,544 shares in the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in shares of Cisco Systems in the third quarter valued at approximately $502,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Up 0.5 %

Shares of NASDAQ:CSCO opened at $61.34 on Wednesday. The company has a market cap of $244.30 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 4.51 and a beta of 0.84. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $62.31. The firm has a fifty day moving average price of $59.49 and a two-hundred day moving average price of $54.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same period in the prior year, the company earned $0.98 EPS. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. Analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.61%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent analyst reports. UBS Group lifted their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Piper Sandler boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Bank of America boosted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.72.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. This represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 in the last quarter. Insiders own 0.01% of the company’s stock.

Cisco Systems 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.