Assetmark Inc. Raises Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Assetmark Inc. grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 13.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 97,377 shares of the network equipment provider’s stock after buying an additional 11,213 shares during the period. Assetmark Inc.’s holdings in Cisco Systems were worth $6,009,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after acquiring an additional 166 shares during the period. Legacy Financial Group Inc. lifted its holdings in shares of Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after purchasing an additional 169 shares during the period. Capital Advantage Inc. lifted its holdings in shares of Cisco Systems by 1.0% during the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock worth $1,028,000 after purchasing an additional 172 shares during the period. EdgeRock Capital LLC lifted its holdings in shares of Cisco Systems by 3.9% during the first quarter. EdgeRock Capital LLC now owns 5,232 shares of the network equipment provider’s stock worth $323,000 after purchasing an additional 197 shares during the period. Finally, Eagle Global Advisors LLC lifted its holdings in shares of Cisco Systems by 1.6% during the fourth quarter. Eagle Global Advisors LLC now owns 12,898 shares of the network equipment provider’s stock worth $764,000 after purchasing an additional 200 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $67.92 on Tuesday. The company has a market cap of $268.96 billion, a P/E ratio of 27.72, a PEG ratio of 4.11 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The business’s 50-day simple moving average is $66.51 and its 200 day simple moving average is $62.52.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the business earned $0.88 EPS. Cisco Systems’s revenue for the quarter was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd were issued a $0.41 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.41%. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares in the company, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the sale, the senior vice president owned 36,937 shares of the company’s stock, valued at $2,366,553.59. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on CSCO. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. JPMorgan Chase & Co. increased their price objective on Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a research report on Thursday, July 17th. New Street Research reiterated a “neutral” rating and issued a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Citigroup increased their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.35.

Cisco Systems 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.