MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,667,079 shares of the network equipment provider's stock after acquiring an additional 127,270 shares during the quarter. Cisco Systems makes up about 0.6% of MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s portfolio, making the stock its 27th largest holding. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.12% of Cisco Systems worth $276,291,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Cisco Systems during the fourth quarter valued at about $3,297,905,000. FMR LLC increased its stake in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth about $560,722,000. Alyeska Investment Group L.P. purchased a new position in Cisco Systems during the fourth quarter valued at approximately $413,491,000. Finally, Caisse DE Depot ET Placement DU Quebec grew its stake in Cisco Systems by 187.9% during the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock valued at $442,749,000 after acquiring an additional 4,880,747 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Cisco Systems
In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at $11,604,868.80. This trade represents a 1.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 14,635 shares of company stock valued at $931,901 in the last three months. 0.01% of the stock is currently owned by corporate insiders.
Cisco Systems Stock Down 1.0%
CSCO stock traded down $0.64 during trading on Friday, hitting $63.62. 30,185,443 shares of the stock traded hands, compared to its average volume of 20,528,993. The firm's 50 day moving average is $58.69 and its two-hundred day moving average is $59.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The stock has a market cap of $253.10 billion, a price-to-earnings ratio of 27.78, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.91 by $0.05. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. During the same quarter last year, the firm posted $0.88 EPS. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.
Cisco Systems declared that its board has authorized a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.
Cisco Systems Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is 71.62%.
Wall Street Analyst Weigh In
Several equities analysts recently commented on CSCO shares. JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. BNP Paribas upgraded shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price for the company in a research report on Tuesday, January 28th. Rosenblatt Securities upped their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday. Finally, StockNews.com cut shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 5th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.47.
Read Our Latest Stock Report on Cisco Systems
About Cisco Systems
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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.
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