Sumitomo Mitsui DS Asset Management Company Ltd Has $42.62 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 719,961 shares of the network equipment provider’s stock after acquiring an additional 12,848 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Cisco Systems were worth $42,622,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. FMR LLC boosted its holdings in Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. Pathway Financial Advisers LLC grew its position in Cisco Systems by 5,231.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after purchasing an additional 4,842,542 shares in the last quarter. National Bank of Canada FI increased its stake in Cisco Systems by 79.6% in the 3rd quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after buying an additional 3,975,028 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after buying an additional 3,241,682 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on CSCO shares. Tigress Financial increased their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Piper Sandler increased their price target 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. StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley increased their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $62.72.

Cisco Systems Trading Down 0.5 %

Shares of CSCO opened at $62.27 on Friday. The business’s 50-day moving average price is $59.59 and its 200-day moving average price is $54.82. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $62.91. The stock has a market cap of $248.01 billion, a PE ratio of 26.73, a P/E/G ratio of 4.51 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. 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 company posted $0.98 EPS. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd were paid a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 586 shares of Cisco Systems 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 sale, the senior vice president now owns 50,767 shares of the company’s stock, valued at $2,979,515.23. The trade was a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Company 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.