GF Fund Management CO. LTD. Acquires 54,053 Shares of Cisco Systems, Inc. $CSCO

GF Fund Management CO. LTD. grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.9% in the fourth quarter, Holdings Channel reports. The firm owned 833,419 shares of the network equipment provider’s stock after buying an additional 54,053 shares during the quarter. Cisco Systems accounts for about 1.1% of GF Fund Management CO. LTD.’s portfolio, making the stock its 19th biggest position. GF Fund Management CO. LTD.’s holdings in Cisco Systems were worth $64,198,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Cisco Systems by 6.9% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock worth $218,236,000 after purchasing an additional 205,043 shares in the last quarter. Greystone Financial Group LLC bought a new stake in shares of Cisco Systems in the third quarter worth $8,563,000. Jones Financial Companies Lllp grew its holdings in shares of Cisco Systems by 8.9% in the third quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock worth $46,165,000 after acquiring an additional 56,057 shares during the period. Rockland Trust Co. grew its holdings in shares of Cisco Systems by 213.8% in the third quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock worth $1,402,000 after acquiring an additional 13,966 shares during the period. Finally, CX Institutional grew its holdings in shares of Cisco Systems by 11.0% in the third quarter. CX Institutional now owns 144,336 shares of the network equipment provider’s stock worth $9,875,000 after acquiring an additional 14,334 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock opened at $86.25 on Friday. The stock’s 50-day simple moving average is $79.86 and its 200-day simple moving average is $76.67. Cisco Systems, Inc. has a 52 week low of $53.83 and a 52 week high of $88.18. The company has a market capitalization of $340.68 billion, a price-to-earnings ratio of 30.26, a PEG ratio of 3.19 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business had revenue of $15.35 billion for the quarter, compared to the consensus estimate of $15.11 billion. During the same period in the previous year, the business earned $0.94 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. As a group, analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be given a $0.42 dividend. The ex-dividend date is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 1.9%. Cisco Systems’s dividend payout ratio (DPR) is presently 58.95%.

Analysts Set New Price Targets

Several brokerages recently commented on CSCO. UBS Group lifted their price objective on Cisco Systems from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, February 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cisco Systems in a report on Tuesday, January 27th. Truist Financial began coverage on Cisco Systems in a report on Tuesday, March 31st. They issued a “buy” rating and a $94.00 price objective for the company. HSBC lifted their price objective on Cisco Systems from $74.00 to $77.00 and gave the stock a “hold” rating in a report on Friday, February 13th. Finally, Erste Group Bank lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.81.

Insiders Place Their Bets

In other news, EVP Oliver Tuszik sold 3,132 shares of the business’s stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $79.74, for a total value of $249,745.68. Following the transaction, the executive vice president directly owned 188,613 shares in the company, valued at $15,040,000.62. The trade was a 1.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $79.50, for a total value of $634,489.50. Following the completion of the transaction, the executive vice president owned 187,097 shares in the company, valued at $14,874,211.50. The trade was a 4.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 46,431 shares of company stock valued at $3,574,820. Insiders own 0.01% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.