Assetmark Inc. Purchases 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 the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 137,379 shares of the network equipment provider’s stock after purchasing 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 modified their holdings of the company. Public Sector Pension Investment Board boosted its stake in shares of Cisco Systems by 267.1% in the 3rd quarter. Public Sector Pension Investment Board now owns 1,383,400 shares of the network equipment provider’s stock valued at $94,652,000 after purchasing an additional 1,006,557 shares in the last quarter. Moment Partners LLC boosted its position in Cisco Systems by 1.2% during the third quarter. Moment Partners LLC now owns 17,758 shares of the network equipment provider’s stock valued at $1,215,000 after buying an additional 206 shares during the period. Ground Swell Capital LLC bought a new position in shares of Cisco Systems during the third quarter valued at about $373,000. Varma Mutual Pension Insurance Co increased its holdings in shares of Cisco Systems by 8.7% in the third quarter. Varma Mutual Pension Insurance Co now owns 647,947 shares of the network equipment provider’s stock worth $44,333,000 after buying an additional 52,000 shares during the period. Finally, Leuthold Group LLC lifted its stake in shares of Cisco Systems by 10.1% in the 3rd quarter. Leuthold Group LLC now owns 136,101 shares of the network equipment provider’s stock valued at $9,312,000 after acquiring an additional 12,539 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 2.5%

Shares of Cisco Systems stock opened at $76.85 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The company’s fifty day simple moving average is $77.79 and its 200-day simple moving average is $73.20. The stock has a market capitalization of $303.64 billion, a PE ratio of 26.97, a P/E/G ratio of 2.86 and a beta of 0.87. Cisco Systems, Inc. has a 1-year low of $52.11 and a 1-year 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, beating analysts’ consensus estimates of $1.02 by $0.02. The firm had revenue of $15.35 billion for the quarter, compared to analysts’ expectations of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.94 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

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

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 9,801 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $76.38, for a total value of $748,600.38. Following the sale, the senior vice president owned 33,026 shares in the company, valued at approximately $2,522,525.88. The trade was a 22.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael D. Capellas sold 16,150 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $77.28, for a total value of $1,248,072.00. Following the sale, the director directly owned 157,218 shares in the company, valued at $12,149,807.04. The trade was a 9.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 108,493 shares of company stock worth $8,435,818 in the last three months. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. President Capital decreased their price target on Cisco Systems from $90.00 to $88.00 in a research note on Wednesday, December 24th. Barclays lifted their target price on shares of Cisco Systems from $71.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 13th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price target on shares of Cisco Systems in a research report on Thursday, February 12th. Piper Sandler lifted their target price on shares of Cisco Systems from $70.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Finally, Wells Fargo & Company boosted their price objective on shares of Cisco Systems from $83.00 to $95.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $97.19.

About Cisco Systems

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.