Evanson Asset Management LLC Has $5.55 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Evanson Asset Management LLC reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 89,882 shares of the network equipment provider’s stock after selling 1,178 shares during the period. Evanson Asset Management LLC’s holdings in Cisco Systems were worth $5,547,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CSCO. Carr Financial Group Corp grew its position in Cisco Systems by 5.3% in the 1st quarter. Carr Financial Group Corp now owns 7,061 shares of the network equipment provider’s stock worth $436,000 after purchasing an additional 355 shares in the last quarter. Advisor Resource Council bought a new stake in Cisco Systems during the first quarter worth $1,009,000. Segment Wealth Management LLC purchased a new position in Cisco Systems in the first quarter worth $479,000. Citizens & Northern Corp grew its stake in Cisco Systems by 2.8% in the 1st quarter. Citizens & Northern Corp now owns 34,077 shares of the network equipment provider’s stock valued at $2,103,000 after purchasing an additional 921 shares during the period. Finally, Proathlete Wealth Management LLC increased its position in shares of Cisco Systems by 12.4% during the 1st quarter. Proathlete Wealth Management LLC now owns 5,260 shares of the network equipment provider’s stock valued at $325,000 after purchasing an additional 581 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of several research reports. Rosenblatt Securities increased their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Evercore ISI upped their price target on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Piper Sandler boosted their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Finally, New Street Research reiterated a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $69.11.

Cisco Systems Trading Up 0.8%

Shares of CSCO stock opened at $65.84 on Friday. The business has a 50-day moving average price of $61.20 and a two-hundred day moving average price of $60.74. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The firm has a market cap of $260.73 billion, a P/E ratio of 26.87, a price-to-earnings-growth ratio of 3.94 and a beta of 0.88.

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

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.49%. Cisco Systems’s payout ratio is currently 66.94%.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president now owns 131,676 shares of the company’s stock, valued at approximately $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,931 shares of company stock valued at $4,671,930. 0.01% of the stock is currently owned by company insiders.

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.