Envestnet Asset Management Inc. Has $499.01 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Envestnet Asset Management Inc. lifted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,429,241 shares of the network equipment provider’s stock after purchasing an additional 182,483 shares during the period. Envestnet Asset Management Inc.’s holdings in Cisco Systems were worth $499,011,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Perennial Investment Advisors LLC increased its stake in shares of Cisco Systems by 3.7% in the 4th quarter. Perennial Investment Advisors LLC now owns 17,586 shares of the network equipment provider’s stock valued at $1,041,000 after buying an additional 623 shares during the period. Aviva PLC raised its holdings in Cisco Systems by 3.0% during the 4th quarter. Aviva PLC now owns 2,407,353 shares of the network equipment provider’s stock worth $142,515,000 after purchasing an additional 69,701 shares during the last quarter. Oarsman Capital Inc. boosted its stake in shares of Cisco Systems by 2.0% in the 4th quarter. Oarsman Capital Inc. now owns 27,841 shares of the network equipment provider’s stock valued at $1,648,000 after purchasing an additional 534 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $81,178,000. Finally, Unison Advisors LLC raised its stake in shares of Cisco Systems by 0.7% during the fourth quarter. Unison Advisors LLC now owns 66,101 shares of the network equipment provider’s stock worth $3,913,000 after buying an additional 479 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on CSCO shares. JPMorgan Chase & Co. lifted their target price on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. The Goldman Sachs Group boosted their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a research report on Tuesday, January 28th. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. Finally, Barclays restated an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.63.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $64.37, for a total transaction of $760,080.96. Following the completion of the sale, the executive vice president now owns 200,191 shares of the company’s stock, valued at approximately $12,886,294.67. This represents a 5.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. This represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 66,547 shares of company stock worth $4,275,553. Company insiders own 0.01% of the company’s stock.

Cisco Systems Stock Down 4.8 %

Shares of CSCO opened at $54.54 on Friday. The firm’s 50-day simple moving average is $61.91 and its 200 day simple moving average is $58.81. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a market cap of $216.98 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, analysts forecast 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 23rd. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 3.01%. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Cisco Systems announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.