Evergreen Wealth Management LLC Raises Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Evergreen Wealth Management LLC lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 40.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,228 shares of the network equipment provider's stock after acquiring an additional 11,848 shares during the quarter. Cisco Systems makes up approximately 1.3% of Evergreen Wealth Management LLC's holdings, making the stock its 28th biggest position. Evergreen Wealth Management LLC's holdings in Cisco Systems were worth $2,194,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider's stock worth $36,847,000 after acquiring an additional 288,775 shares during the period. Citizens Financial Group Inc. RI boosted its stake in Cisco Systems by 24.4% during the second quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider's stock valued at $12,573,000 after buying an additional 51,924 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in Cisco Systems by 10.9% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider's stock valued at $88,261,000 after purchasing an additional 162,544 shares in the last quarter. Quintet Private Bank Europe S.A. raised its stake in Cisco Systems by 17.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider's stock valued at $33,830,000 after purchasing an additional 92,179 shares in the last quarter. Finally, IRON Financial LLC bought a new position in shares of Cisco Systems in the 3rd quarter valued at about $856,000. 73.33% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,924 shares of company stock worth $1,798,131. Company insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CSCO shares. Morgan Stanley increased their price target on shares of Cisco Systems from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Thursday. Citigroup raised their price target on Cisco Systems from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday. Tigress Financial raised their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. Hsbc Global Res raised Cisco Systems to a "strong-buy" rating in a research note on Friday, August 16th. Finally, UBS Group raised 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. Eleven 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 data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $59.42.

Cisco Systems Stock Down 0.8 %

Shares of CSCO traded down $0.46 during mid-day trading on Friday, hitting $57.46. 28,173,705 shares of the company traded hands, compared to its average volume of 19,144,939. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year 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 company has a market capitalization of $229.31 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83. The business has a 50 day moving average of $54.18 and a 200 day moving average of $49.76.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. Cisco Systems's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 EPS. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems's dividend payout ratio is presently 68.67%.

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.