Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 750,389 shares of the network equipment provider's stock after acquiring an additional 30,428 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Cisco Systems were worth $46,307,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Mainstream Capital Management LLC acquired a new stake in shares of Cisco Systems in the fourth quarter valued at $132,000. Proficio Capital Partners LLC boosted its holdings in Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after acquiring an additional 7,338 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Cisco Systems by 28.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider's stock valued at $249,180,000 after acquiring an additional 904,548 shares in the last quarter. Investment Management Corp of Ontario increased its stake in Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after purchasing an additional 59,680 shares during the period. Finally, AlTi Global Inc. lifted its position in shares of Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock worth $1,217,000 after purchasing an additional 6,811 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CSCO has been the subject of a number of research reports. KeyCorp assumed coverage on shares of Cisco Systems in a report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Citigroup lifted their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, JPMorgan Chase & Co. upped their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $69.53.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the sale, the senior vice president directly owned 36,937 shares in the company, valued at approximately $2,366,553.59. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,335 shares of company stock valued at $6,271,054. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded up $1.46 during trading on Thursday, reaching $69.64. The company's stock had a trading volume of 17,932,578 shares, compared to its average volume of 20,279,291. The firm has a market cap of $275.77 billion, a PE ratio of 28.42, a P/E/G ratio of 4.13 and a beta of 0.90. The company has a 50-day moving average price of $63.41 and a two-hundred day moving average price of $61.30. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The business had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The business's revenue was up 11.4% compared to the same quarter last year. On average, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

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.