Krane Funds Advisors LLC Acquires 9,319 Shares of Cisco Systems, Inc. $CSCO

Krane Funds Advisors LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 104.6% during the 3rd quarter, Holdings Channel reports. The firm owned 18,227 shares of the network equipment provider’s stock after purchasing an additional 9,319 shares during the quarter. Krane Funds Advisors LLC’s holdings in Cisco Systems were worth $1,279,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bare Financial Services Inc grew its position in shares of Cisco Systems by 531.0% during the 2nd quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock worth $25,000 after buying an additional 308 shares during the period. Marquette Asset Management LLC acquired a new position in shares of Cisco Systems during the 3rd quarter valued at $25,000. Legacy Investment Solutions LLC bought a new position in Cisco Systems during the second quarter worth $28,000. Lowe Wealth Advisors LLC grew its holdings in Cisco Systems by 96.2% in the third quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock worth $28,000 after purchasing an additional 200 shares during the period. Finally, Cedar Mountain Advisors LLC increased its stake in Cisco Systems by 115.7% in the third quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock valued at $32,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price objective on shares of Cisco Systems in a research report on Thursday, February 12th. UBS Group upped their price target on Cisco Systems from $90.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Piper Sandler raised their price objective on Cisco Systems from $70.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Melius Research boosted their price objective on Cisco Systems from $84.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, November 13th. Finally, DZ Bank raised Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $89.55.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $77.74 on Tuesday. The company has a market capitalization of $307.06 billion, a PE ratio of 27.28, a PEG ratio of 2.99 and a beta of 0.87. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $77.70 and its 200-day moving average price is $73.54. Cisco Systems, Inc. has a twelve month low of $52.11 and a twelve month high of $88.18.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping 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 analysts’ expectations of $15.11 billion. During the same quarter in the previous year, the firm earned $0.94 earnings per share. The business’s revenue was up 9.7% on a year-over-year basis. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 2.2%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. Cisco Systems’s dividend payout ratio is 57.54%.

Insiders Place Their Bets

In other news, Director Kristina M. Johnson sold 13,481 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $77.13, for a total transaction of $1,039,789.53. Following the completion of the sale, the director owned 61,630 shares in the company, valued at $4,753,521.90. This trade represents a 17.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Jeetendra I. Patel sold 11,248 shares of Cisco Systems stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the completion of the sale, the insider directly owned 262,776 shares in the company, valued at $19,970,976. This trade represents a 4.10% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 73,498 shares of company stock valued at $5,641,815. Company insiders own 0.01% of the company’s stock.

Cisco Systems 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.