Mirae Asset Global Investments Co. Ltd. Raises Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Mirae Asset Global Investments Co. Ltd. increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,338,043 shares of the network equipment provider’s stock after buying an additional 249,395 shares during the period. Cisco Systems accounts for about 0.5% of Mirae Asset Global Investments Co. Ltd.’s portfolio, making the stock its 29th largest position. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Cisco Systems worth $123,963,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BKM Wealth Management LLC increased its position in shares of Cisco Systems by 6.2% during the third quarter. BKM Wealth Management LLC now owns 26,557 shares of the network equipment provider’s stock worth $1,413,000 after acquiring an additional 1,546 shares during the period. Allworth Financial LP grew its stake in Cisco Systems by 0.4% in the third quarter. Allworth Financial LP now owns 465,314 shares of the network equipment provider’s stock worth $24,764,000 after purchasing an additional 1,653 shares in the last quarter. CWC Advisors LLC. purchased a new position in Cisco Systems during the 3rd quarter worth $558,000. Signet Investment Advisory Group Inc. raised its position in Cisco Systems by 2.4% during the 3rd quarter. Signet Investment Advisory Group Inc. now owns 76,982 shares of the network equipment provider’s stock valued at $4,097,000 after purchasing an additional 1,777 shares in the last quarter. Finally, Burford Brothers Inc. bought a new stake in Cisco Systems during the 3rd quarter valued at $211,000. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research reports. JPMorgan Chase & Co. raised their price target on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research report on Thursday, August 15th. Jefferies Financial Group cut their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $56.74.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at $6,821,929.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is owned by insiders.

Cisco Systems Stock Performance

Shares of CSCO opened at $55.74 on Friday. The stock has a 50-day moving average of $52.12 and a two-hundred day moving average of $48.87. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a market cap of $224.57 billion, a P/E ratio of 18.77, a P/E/G ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.06.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. Cisco Systems’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, research analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.87%. Cisco Systems’s dividend payout ratio is presently 53.87%.

About Cisco Systems

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.