Evernest Financial Advisors LLC Has $746,000 Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Evernest Financial Advisors LLC raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 12,596 shares of the network equipment provider’s stock after purchasing an additional 270 shares during the quarter. Evernest Financial Advisors LLC’s holdings in Cisco Systems were worth $746,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CSCO. Sonora Investment Management Group LLC raised its stake in shares of Cisco Systems by 3.9% in the 4th quarter. Sonora Investment Management Group LLC now owns 345,485 shares of the network equipment provider’s stock valued at $20,453,000 after buying an additional 12,876 shares in the last quarter. Oak Harvest Investment Services increased its stake in Cisco Systems by 22.3% in the fourth quarter. Oak Harvest Investment Services now owns 153,238 shares of the network equipment provider’s stock valued at $9,072,000 after acquiring an additional 27,893 shares during the period. Cibc World Market Inc. raised its position in Cisco Systems by 12.9% in the fourth quarter. Cibc World Market Inc. now owns 1,060,307 shares of the network equipment provider’s stock worth $62,770,000 after purchasing an additional 121,010 shares in the last quarter. Cyr Financial Inc. acquired a new position in Cisco Systems in the fourth quarter worth about $627,000. Finally, Mediolanum International Funds Ltd boosted its holdings in Cisco Systems by 41.7% during the fourth quarter. Mediolanum International Funds Ltd now owns 916,477 shares of the network equipment provider’s stock valued at $54,113,000 after purchasing an additional 269,647 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kristina M. Johnson sold 7,500 shares of Cisco Systems stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the transaction, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

Shares of CSCO stock opened at $60.47 on Friday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $62.31. The firm has a market cap of $240.84 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 4.43 and a beta of 0.84. The stock has a 50-day moving average price of $59.34 and a 200 day moving average price of $54.35.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the previous year, the firm posted $0.98 earnings per share. Cisco Systems’s revenue for the quarter was down 5.6% compared to the same quarter last year. Research analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.65%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent research reports. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $55.00 to $66.00 in a report on Monday, November 11th. UBS Group increased their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Citigroup boosted their target price on shares of Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Wells Fargo & Company increased their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, Piper Sandler boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $62.72.

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.