Mirabaud & Cie SA Grows Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Mirabaud & Cie SA increased its stake in Cisco Systems by 9.0%, acquiring an additional 8,360 shares, bringing its total holdings to 101,350 shares, valued at approximately $6.25 million.
• Several institutional investors recently purchased positions in Cisco, with 73.33% of the company's stock now owned by institutional investors.
• Analyst upgrades for Cisco include Deutsche Bank raising its rating from "hold" to "buy" and increasing the price target to $73.00, among other positive revisions by major firms.

Mirabaud & Cie SA increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 9.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 101,350 shares of the network equipment provider's stock after acquiring an additional 8,360 shares during the quarter. Cisco Systems makes up about 2.1% of Mirabaud & Cie SA's investment portfolio, making the stock its 14th largest position. Mirabaud & Cie SA's holdings in Cisco Systems were worth $6,254,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC boosted its holdings in Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after acquiring an additional 2,474 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Cisco Systems by 39.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 440,169 shares of the network equipment provider's stock worth $26,058,000 after acquiring an additional 124,529 shares in the last quarter. Arete Wealth Advisors LLC boosted its holdings in Cisco Systems by 6.3% in the fourth quarter. Arete Wealth Advisors LLC now owns 34,067 shares of the network equipment provider's stock worth $2,011,000 after acquiring an additional 2,029 shares in the last quarter. Finally, Atlas Capital Advisors Inc. boosted its holdings in Cisco Systems by 257.5% in the fourth quarter. Atlas Capital Advisors Inc. now owns 22,651 shares of the network equipment provider's stock worth $1,341,000 after acquiring an additional 16,315 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CSCO. Wolfe Research began coverage on Cisco Systems in a report on Tuesday, July 8th. They issued a "peer perform" rating for the company. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a "hold" rating to a "buy" rating and lifted their target price for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Rosenblatt Securities lifted their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Piper Sandler lifted their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Finally, Wall Street Zen downgraded Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 12th. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $70.35.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $1.38 on Monday, reaching $68.49. The company's stock had a trading volume of 17,046,413 shares, compared to its average volume of 16,981,078. The company has a market capitalization of $271.22 billion, a P/E ratio of 27.96, a PEG ratio of 3.76 and a beta of 0.91. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $69.78. The stock has a 50-day moving average price of $66.87 and a 200-day moving average price of $62.76. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

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

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Thursday, July 3rd. Cisco Systems's payout ratio is presently 66.94%.

Insider Activity

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the company's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president owned 174,669 shares of the company's stock, valued at approximately $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 in the last three months. Company insiders own 0.01% of the company's stock.

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.