Evergreen Wealth Management LLC Acquires 11,848 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Evergreen Wealth Management LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 40.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,228 shares of the network equipment provider’s stock after purchasing an additional 11,848 shares during the period. Cisco Systems accounts for about 1.3% of Evergreen Wealth Management LLC’s holdings, making the stock its 28th largest holding. Evergreen Wealth Management LLC’s holdings in Cisco Systems were worth $2,194,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. Summit Securities Group LLC purchased a new position in shares of Cisco Systems during the 2nd quarter worth approximately $25,000. Quarry LP grew its holdings in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares during the period. West Financial Advisors LLC grew its stake in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems in the 2nd quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC grew its stake in shares of Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after buying an additional 766 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of several recent research reports. UBS Group upped their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the company from $55.00 to $66.00 in a research note on Monday, November 11th. Barclays increased their target price on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday. Eleven research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $59.42.

Cisco Systems Trading Down 0.8 %

CSCO traded down $0.46 on Friday, hitting $57.46. The company had a trading volume of 28,173,705 shares, compared to its average volume of 19,144,939. The company has a market cap of $229.31 billion, a PE ratio of 24.66, a PEG ratio of 4.90 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $54.18 and its 200 day simple moving average is $49.76.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.01 earnings per share. Equities research analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the transaction, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. This represents a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,924 shares of company stock valued at $1,798,131 over the last 90 days. Insiders own 0.01% of the company’s stock.

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.