Evergreen Wealth Management LLC Purchases 509 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Evergreen Wealth Management LLC raised its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 29,380 shares of the network equipment provider’s stock after acquiring an additional 509 shares during the period. Evergreen Wealth Management LLC’s holdings in Cisco Systems were worth $1,484,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of CSCO. Valued Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the 4th quarter worth $32,000. DiNuzzo Private Wealth Inc. bought a new stake in shares of Cisco Systems in the fourth quarter worth about $33,000. Morton Brown Family Wealth LLC raised its holdings in shares of Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 208 shares in the last quarter. Bourgeon Capital Management LLC boosted its position in shares of Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 700 shares during the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $43,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at $16,424,550. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the transaction, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,441 shares of company stock worth $972,080. Company insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on CSCO. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, April 9th. Piper Sandler lifted their price target on Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 20th. Barclays upped their price objective on Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Finally, Morgan Stanley assumed coverage on Cisco Systems in a report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target on the stock. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $55.53.

Cisco Systems Trading Up 0.7 %

CSCO traded up $0.33 on Friday, reaching $47.12. 17,935,302 shares of the company traded hands, compared to its average volume of 17,219,910. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The company has a market cap of $190.80 billion, a P/E ratio of 14.32, a price-to-earnings-growth ratio of 2.72 and a beta of 0.87. The firm has a fifty day simple moving average of $48.79 and a two-hundred day simple moving average of $49.77. Cisco Systems, Inc. has a one year low of $45.56 and a one year high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.03. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. During the same quarter in the previous year, the firm posted $0.76 earnings per share. The company’s revenue was down 5.9% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th were given a dividend of $0.40 per share. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Wednesday, April 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. Cisco Systems’s dividend payout ratio is presently 48.63%.

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.