Daymark Wealth Partners LLC Grows Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Daymark Wealth Partners LLC boosted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 402,207 shares of the network equipment provider's stock after acquiring an additional 6,647 shares during the quarter. Cisco Systems accounts for 0.8% of Daymark Wealth Partners LLC's portfolio, making the stock its 27th biggest holding. Daymark Wealth Partners LLC's holdings in Cisco Systems were worth $24,820,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CSCO. Mainstream Capital Management LLC purchased a new position in shares of Cisco Systems in the fourth quarter worth $132,000. Proficio Capital Partners LLC grew its position in shares of Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after purchasing an additional 7,338 shares in the last quarter. Investment Management Corp of Ontario increased its holdings in shares of Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock worth $11,454,000 after purchasing an additional 59,680 shares during the last quarter. Aveo Capital Partners LLC lifted its position in shares of Cisco Systems by 8.3% in the fourth quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider's stock worth $314,000 after buying an additional 407 shares in the last quarter. Finally, AlTi Global Inc. boosted its stake in Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after buying an additional 6,811 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the sale, the senior vice president now directly owns 44,155 shares in the company, valued at approximately $2,693,013.45. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,400 shares of company stock valued at $4,564,439 in the last ninety days. Insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent research reports. New Street Research reaffirmed a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. Rosenblatt Securities increased their target price on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. UBS Group upped their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. The Goldman Sachs Group raised their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Finally, Evercore ISI raised their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Stock Up 2.2%

CSCO stock opened at $66.06 on Monday. The company has a market cap of $261.60 billion, a P/E ratio of 28.85, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The company's 50-day moving average price is $59.61 and its 200 day moving average price is $60.38.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the firm posted $0.88 EPS. Cisco Systems's revenue was up 11.4% on a year-over-year basis. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.48%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems Company 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.

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