Gemmer Asset Management LLC Acquires 791 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Gemmer Asset Management LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,960 shares of the network equipment provider’s stock after buying an additional 791 shares during the quarter. Gemmer Asset Management LLC’s holdings in Cisco Systems were worth $473,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its position in Cisco Systems by 0.3% during the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after purchasing an additional 202 shares in the last quarter. Hyman Charles D lifted its position in shares of Cisco Systems by 0.3% during the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock valued at $3,573,000 after buying an additional 203 shares in the last quarter. Baker Boyer National Bank increased its holdings in Cisco Systems by 2.6% in the 1st quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after acquiring an additional 210 shares in the last quarter. Holland Advisory Services Inc. raised its stake in Cisco Systems by 5.3% during the 1st quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after acquiring an additional 213 shares during the period. Finally, WealthPLAN Partners LLC lifted its holdings in Cisco Systems by 3.0% during the first quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock valued at $369,000 after purchasing an additional 213 shares in the last quarter. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CSCO shares. Barclays increased their price objective on shares of Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. Oppenheimer raised their price target on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Wednesday, June 5th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Wells Fargo & Company boosted their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $56.47.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total value of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock valued at $1,908,923 over the last 90 days. Insiders own 0.02% of the company’s stock.

Cisco Systems Trading Up 1.1 %

Shares of NASDAQ:CSCO traded up $0.51 during trading on Tuesday, hitting $45.37. The company had a trading volume of 20,970,755 shares, compared to its average volume of 19,648,922. The stock has a market cap of $182.79 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The company has a fifty day simple moving average of $46.67 and a two-hundred day simple moving average of $47.99. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same period last year, the company earned $0.88 earnings per share. Cisco Systems’s revenue was down 12.8% on a year-over-year basis. As a group, equities analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.53%. The ex-dividend date was Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

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.