Evanson Asset Management LLC Raises Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Evanson Asset Management LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.6% in the second quarter, Holdings Channel reports. The institutional investor owned 92,214 shares of the network equipment provider’s stock after acquiring an additional 513 shares during the period. Evanson Asset Management LLC’s holdings in Cisco Systems were worth $4,381,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CSCO. Healthcare of Ontario Pension Plan Trust Fund increased its position in Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after buying an additional 2,663,676 shares in the last quarter. Roble Belko & Company Inc boosted its position in Cisco Systems by 77.1% during the fourth quarter. Roble Belko & Company Inc now owns 6,405 shares of the network equipment provider’s stock worth $324,000 after purchasing an additional 2,788 shares in the last quarter. Louisiana State Employees Retirement System acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $28,685,000. Thompson Siegel & Walmsley LLC boosted its holdings in Cisco Systems by 0.6% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock worth $13,683,000 after buying an additional 1,520 shares during the last quarter. Finally, Marcum Wealth LLC increased its position in shares of Cisco Systems by 4.0% during the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock worth $1,215,000 after purchasing an additional 943 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of analyst reports. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Monday, May 13th. JPMorgan Chase & Co. began coverage on Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Wells Fargo & Company increased their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Finally, Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $55.00 to $60.00 in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.47.

Insider Activity at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares in the company, valued at $2,352,210.96. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at $7,997,250.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,106 shares of company stock worth $1,908,923. Company insiders own 0.02% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded down $0.36 during mid-day trading on Friday, reaching $45.47. The stock had a trading volume of 21,217,648 shares, compared to its average volume of 19,636,689. The business has a 50 day simple moving average of $46.71 and a 200 day simple moving average of $48.07. The firm has a market capitalization of $183.19 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.97 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. Cisco Systems, Inc. has a twelve month low of $44.64 and a twelve month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the previous year, the firm earned $0.88 EPS. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were issued a $0.40 dividend. The ex-dividend date was Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.52%. Cisco Systems’s payout ratio is 53.87%.

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.