Assetmark Inc. Buys 18,684 Shares of Cisco Systems, Inc. $CSCO

Assetmark Inc. increased its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137,379 shares of the network equipment provider’s stock after buying an additional 18,684 shares during the period. Assetmark Inc.’s holdings in Cisco Systems were worth $9,399,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. increased its holdings in Cisco Systems by 1.1% in the 2nd quarter. Avantax Advisory Services Inc. now owns 420,336 shares of the network equipment provider’s stock valued at $29,163,000 after purchasing an additional 4,525 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Cisco Systems by 6.9% during the third 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 buying an additional 205,043 shares during the period. Greystone Financial Group LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at $8,563,000. Jones Financial Companies Lllp raised its holdings in shares of Cisco Systems by 8.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock valued at $46,165,000 after buying an additional 56,057 shares during the period. Finally, Rockland Trust Co. lifted its stake in Cisco Systems by 213.8% during the 3rd 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 in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent research reports. Citic Securities upped their target price on shares of Cisco Systems from $75.00 to $90.00 in a research note on Monday, November 17th. Argus lifted their price target on shares of Cisco Systems from $80.00 to $100.00 in a research note on Thursday, November 13th. Rosenblatt Securities reissued a “buy” rating and issued a $100.00 price objective on shares of Cisco Systems in a research report on Thursday, February 12th. Barclays lifted their price objective on shares of Cisco Systems from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 13th. Finally, KeyCorp increased their target price on Cisco Systems from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $97.19.

Insiders Place Their Bets

In other Cisco Systems news, Director Kristina M. Johnson sold 13,481 shares of the stock in a transaction on Thursday, December 18th. The stock was sold at an average price of $77.13, for a total value of $1,039,789.53. Following the completion of the transaction, the director owned 61,630 shares in the company, valued at approximately $4,753,521.90. This represents a 17.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Michael D. Capellas sold 16,150 shares of the firm’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $77.28, for a total transaction of $1,248,072.00. Following the completion of the sale, the director owned 157,218 shares of the company’s stock, valued at $12,149,807.04. This trade represents a 9.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 108,493 shares of company stock worth $8,435,818. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $76.85 on Tuesday. Cisco Systems, Inc. has a 52-week low of $52.11 and a 52-week high of $88.18. 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 $77.79 and its 200 day moving average price is $73.20. The stock has a market capitalization of $303.64 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 2.86 and a beta of 0.87.

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, beating analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. Cisco Systems’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $0.94 EPS. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. 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. Cisco Systems’s dividend payout ratio is presently 57.54%.

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.