Evergreen Wealth Management LLC Acquires 1,014 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Evergreen Wealth Management LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,288 shares of the network equipment provider’s stock after acquiring an additional 1,014 shares during the period. Cisco Systems accounts for 1.6% of Evergreen Wealth Management LLC’s portfolio, making the stock its 24th largest position. Evergreen Wealth Management LLC’s holdings in Cisco Systems were worth $2,610,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CSCO. Navigoe LLC bought a new position in Cisco Systems during the fourth quarter worth about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems in the 4th quarter valued at approximately $26,000. JDM Financial Group LLC increased its position in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Runnymede Capital Advisors Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $30,000. Finally, Fairway Wealth LLC boosted its stake in shares of Cisco Systems by 224.7% during the 1st quarter. Fairway Wealth LLC now owns 578 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 400 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Richard Scott Herren sold 15,678 shares of the company’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer owned 688,409 shares of the company’s stock, valued at $44,478,105.49. This trade represents a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,335 shares of company stock worth $6,271,054 in the last three months. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

CSCO stock traded up $0.22 during mid-day trading on Friday, hitting $68.52. 3,012,080 shares of the stock were exchanged, compared to its average volume of 20,238,056. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The business has a fifty day moving average price of $65.67 and a 200 day moving average price of $62.03. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. The stock has a market capitalization of $271.32 billion, a price-to-earnings ratio of 28.00, a PEG ratio of 4.03 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the company posted $0.88 EPS. Cisco Systems’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Cisco Systems’s payout ratio is currently 66.94%.

Analysts Set New Price Targets

Several research analysts have recently commented on CSCO shares. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $73.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. CICC Research initiated coverage on Cisco Systems in a research note on Monday. They issued an “outperform” rating and a $78.00 price target for the company. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, KeyCorp initiated coverage on Cisco Systems in a research note on Thursday, June 26th. They issued an “overweight” rating and a $77.00 price target for the company. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.35.

About Cisco Systems

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.