Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 421.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,832 shares of the network equipment provider's stock after purchasing an additional 52,396 shares during the period. Miracle Mile Advisors LLC's holdings in Cisco Systems were worth $3,838,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Cisco Systems by 59.3% in 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 purchasing an additional 288,775 shares during the last quarter. Morse Asset Management Inc purchased a new position in shares of Cisco Systems in the third quarter valued at about $798,000. Citizens Financial Group Inc. RI raised its stake in shares of Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider's stock valued at $12,573,000 after acquiring an additional 51,924 shares during the last quarter. HighVista Strategies LLC purchased a new stake in shares of Cisco Systems during the third quarter worth about $1,698,000. Finally, GAMMA Investing LLC grew its stake in shares of Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider's stock worth $5,527,000 after purchasing an additional 10,813 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. JPMorgan Chase & Co. raised Cisco Systems from a "neutral" rating to an "overweight" rating and upped their price target for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Wells Fargo & Company raised their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Thursday, November 14th. Piper Sandler boosted their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. UBS Group upped their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Finally, Melius raised shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $61.28.

Cisco Systems Trading Up 1.0 %

Shares of NASDAQ:CSCO traded up $0.57 during trading on Tuesday, reaching $59.33. 16,711,618 shares of the company were exchanged, compared to its average volume of 17,267,002. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The firm has a market capitalization of $236.30 billion, a PE ratio of 25.46, a P/E/G ratio of 4.37 and a beta of 0.85. The business's fifty day simple moving average is $58.79 and its 200-day simple moving average is $53.34. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $60.23.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.70%. Cisco Systems's dividend payout ratio is currently 68.67%.

Insider Transactions at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares of the company's stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 586 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the completion of the transaction, the senior vice president now owns 50,767 shares of the company's stock, valued at $2,979,515.23. This represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. Company 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.