Miracle Mile Advisors LLC Purchases 52,396 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Miracle Mile Advisors LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 421.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 64,832 shares of the network equipment provider’s stock after acquiring 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 reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in Cisco Systems by 59.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after buying an additional 288,775 shares during the last quarter. Morse Asset Management Inc bought a new position in shares of Cisco Systems during the third quarter valued at $798,000. Citizens Financial Group Inc. RI lifted its holdings in shares of Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after purchasing an additional 51,924 shares during the period. HighVista Strategies LLC bought a new stake in shares of Cisco Systems in the third quarter worth $1,698,000. Finally, GAMMA Investing LLC increased its holdings in Cisco Systems by 13.1% in the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock valued at $5,527,000 after purchasing an additional 10,813 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Tigress Financial upped 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. Wells Fargo & Company upped their target price on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Citigroup boosted their price target on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Finally, UBS Group boosted their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $61.28.

Cisco Systems Trading Up 0.0 %

NASDAQ CSCO opened at $58.76 on Tuesday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23. The business has a 50 day moving average price of $58.73 and a 200-day moving average price of $53.26. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market cap of $234.03 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 4.37 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate 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 was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share. As a group, equities analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued 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 is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 586 shares of the stock in a transaction dated Thursday, December 12th. The shares were 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 in the company, valued at $2,979,515.23. This represents 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, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction 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. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 over the last ninety days. 0.01% of the stock is currently owned by insiders.

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.