Envestnet Boosts Stake in Cisco Systems by 6.4% to $1.32 Billion
Envestnet Asset Management Inc., a well-established financial institution, has significantly increased its stake in Cisco Systems, Inc. (CSCO) by boosting its holdings by 6.4% during the second quarter of this year.
As per the latest 13F filing with the Securities and Exchange Commission, Envestnet Asset Management Inc. now owns a substantial 10,702,020 shares of Cisco Systems' stock, valued at approximately $1.32 billion.
This represents about 0.27% of the company's outstanding shares, demonstrating Envestnet's confidence in the network equipment provider's growth prospects.
Several other large investors have also increased their stakes in Cisco Systems during this quarter, including Cozad Asset Management Inc., Dogwood Wealth Management LLC, August Group Capital Ltd, and Financial Insights Inc.