Miracle Mile Advisors LLC Grows Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Miracle Mile Advisors LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 421.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 64,832 shares of the network equipment provider’s stock after purchasing an additional 52,396 shares during the period. Miracle Mile Advisors LLC’s holdings in Cisco Systems were worth $3,838,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Horizon Wealth Management LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at $207,000. Sunflower Bank N.A. increased its holdings in Cisco Systems by 2.8% in the 4th quarter. Sunflower Bank N.A. now owns 15,215 shares of the network equipment provider’s stock worth $901,000 after acquiring an additional 408 shares during the last quarter. Davis Investment Partners LLC bought a new stake in Cisco Systems in the 4th quarter valued at about $278,000. Elevated Capital Advisors LLC lifted its holdings in Cisco Systems by 28.5% during the fourth quarter. Elevated Capital Advisors LLC now owns 9,336 shares of the network equipment provider’s stock valued at $553,000 after purchasing an additional 2,073 shares during the last quarter. Finally, Heritage Wealth Partners LLC increased its stake in shares of Cisco Systems by 5.6% in the fourth quarter. Heritage Wealth Partners LLC now owns 4,133 shares of the network equipment provider’s stock worth $245,000 after purchasing an additional 220 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 586 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value 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 approximately $2,979,515.23. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

Cisco Systems stock opened at $58.76 on Tuesday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.23. The firm’s fifty day moving average price is $58.73 and its 200-day moving average price is $53.26. The stock has a market cap of $234.03 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly 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 firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. On average, equities research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CSCO. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price target for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Piper Sandler boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.28.

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.