Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Evernest Financial Advisors LLC

Evernest Financial Advisors LLC grew its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 22.6% during the first quarter, Holdings Channel.com reports. The firm owned 15,439 shares of the network equipment provider’s stock after buying an additional 2,843 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Cisco Systems were worth $953,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Navigoe LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems in the fourth quarter worth 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 valued at $29,000 after purchasing an additional 300 shares during the period. Fairway Wealth LLC increased its position 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 valued at $36,000 after purchasing an additional 400 shares during the period. Finally, Accent Capital Management LLC bought a new stake in shares of Cisco Systems in the 1st quarter worth $36,000. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,407 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $64.01, for a total value of $154,072.07. Following the completion of the sale, the executive vice president directly owned 177,027 shares in the company, valued at $11,331,498.27. The trade was a 1.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeetendra I. Patel sold 899 shares of the stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the transaction, the insider owned 255,377 shares in the company, valued at approximately $16,413,079.79. This trade represents a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 in the last quarter. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 2.5%

Shares of NASDAQ CSCO opened at $69.21 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The business has a 50-day moving average price of $67.17 and a two-hundred day moving average price of $62.89. The firm has a market capitalization of $274.07 billion, a PE ratio of 28.25, a PEG ratio of 3.78 and a beta of 0.91.

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

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.4%. Cisco Systems’s payout ratio is presently 66.94%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CSCO. Wall Street Zen cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 12th. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $72.00 to $75.00 in a research report on Thursday, May 15th. Morgan Stanley boosted their target price on shares of Cisco Systems from $67.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, July 18th. KeyCorp assumed coverage on shares of Cisco Systems in a report on Thursday, June 26th. They set an “overweight” rating and a $77.00 target price for the company. Finally, New Street Research restated a “neutral” rating and issued a $70.00 price target on shares of Cisco Systems in a research report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $70.55.

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.