Sumitomo Mitsui Financial Group Inc. Increases Stock Position in Cisco Systems, Inc. $CSCO

Sumitomo Mitsui Financial Group Inc. raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,336 shares of the network equipment provider’s stock after purchasing an additional 1,468 shares during the quarter. Sumitomo Mitsui Financial Group Inc.’s holdings in Cisco Systems were worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CSCO. Goldman Sachs Group Inc. boosted its stake in shares of Cisco Systems by 37.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider’s stock worth $2,898,722,000 after acquiring an additional 12,775,066 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Cisco Systems during the 1st quarter worth approximately $750,495,000. Pacer Advisors Inc. boosted its stake in shares of Cisco Systems by 1,144.2% during the 1st quarter. Pacer Advisors Inc. now owns 8,120,886 shares of the network equipment provider’s stock worth $501,140,000 after acquiring an additional 7,468,212 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Cisco Systems during the 4th quarter worth approximately $413,491,000. Finally, GAMMA Investing LLC boosted its stake in shares of Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider’s stock worth $414,593,000 after acquiring an additional 6,625,045 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.1%

CSCO stock opened at $66.95 on Tuesday. The company has a market cap of $265.12 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 2.83 and a beta of 0.91. The company has a quick ratio of 0.92, a current ratio of 1.01 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $68.00 and a 200-day simple moving average of $63.42. Cisco Systems, Inc. has a 52 week low of $47.85 and a 52 week high of $72.55.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.01. Cisco Systems had a return on equity of 27.02% and a net margin of 18.45%. The firm had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. During the same period in the prior year, the firm earned $0.87 EPS. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 22nd. Investors of record on Friday, October 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.4%. The ex-dividend date is Friday, October 3rd. Cisco Systems’s dividend payout ratio is currently 62.60%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Hsbc Global Res lowered Cisco Systems from a “strong-buy” rating to a “hold” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Citigroup upped their target price on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Wolfe Research began coverage on Cisco Systems in a research note on Tuesday, July 8th. They issued a “peer perform” rating on the stock. Finally, Wall Street Zen lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Ten equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $74.53.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president directly owned 174,669 shares in the company, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the company’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the completion of the transaction, the chief financial officer directly owned 309,543 shares of the company’s stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,731 shares of company stock worth $5,021,519 in the last quarter. 0.01% of the stock is owned by corporate insiders.

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.