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

Miracle Mile Advisors LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,781 shares of the network equipment provider’s stock after acquiring an additional 1,647 shares during the quarter. Miracle Mile Advisors LLC’s holdings in Cisco Systems were worth $1,715,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Cisco Systems by 1.9% in the 1st quarter. BlackRock Inc. now owns 323,155,278 shares of the network equipment provider’s stock worth $12,703,234,000 after acquiring an additional 5,966,755 shares during the period. Wellington Management Group LLP boosted its holdings in Cisco Systems by 38.3% in the 1st quarter. Wellington Management Group LLP now owns 94,598,864 shares of the network equipment provider’s stock worth $3,718,681,000 after acquiring an additional 26,179,953 shares during the period. Geode Capital Management LLC boosted its holdings in Cisco Systems by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 62,331,398 shares of the network equipment provider’s stock worth $2,445,803,000 after acquiring an additional 907,397 shares during the period. Legal & General Group Plc boosted its holdings in Cisco Systems by 2.7% in the 1st quarter. Legal & General Group Plc now owns 29,675,408 shares of the network equipment provider’s stock worth $1,174,122,000 after acquiring an additional 782,430 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Cisco Systems by 20.9% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 22,137,775 shares of the network equipment provider’s stock worth $1,024,437,000 after acquiring an additional 3,834,365 shares during the period. Hedge funds and other institutional investors own 71.36% of the company’s stock.

In other news, CAO Prat Bhatt sold 5,703 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $44.87, for a total value of $255,893.61. Following the completion of the transaction, the chief accounting officer now owns 85,613 shares of the company’s stock, valued at $3,841,455.31. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.03% of the company’s stock.

A number of research firms have weighed in on CSCO. Nomura upped their price target on Cisco Systems from $43.00 to $46.00 and gave the stock a “neutral” rating in a report on Thursday, May 14th. Zacks Investment Research lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 target price on the stock. in a research report on Monday. KeyCorp lowered Cisco Systems from an “overweight” rating to a “sector weight” rating in a research report on Friday, April 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, May 14th. Finally, Citigroup upped their target price on Cisco Systems from $40.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $49.88.

NASDAQ CSCO traded down $0.28 during trading hours on Friday, hitting $42.44. The company had a trading volume of 2,231,807 shares, compared to its average volume of 26,268,949. Cisco Systems, Inc. has a fifty-two week low of $32.40 and a fifty-two week high of $52.12. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.32. The business has a fifty day simple moving average of $46.56 and a 200-day simple moving average of $44.10. The firm has a market cap of $180.38 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 3.11 and a beta of 0.96.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. Cisco Systems had a return on equity of 36.47% and a net margin of 21.32%. During the same period last year, the firm earned $0.83 EPS. Equities analysts forecast that Cisco Systems, Inc. will post 2.86 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were paid a $0.36 dividend. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.44 annualized dividend and a dividend yield of 3.39%. Cisco Systems’s payout ratio is 50.53%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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