Evoke Wealth LLC Purchases 2,173 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Evoke Wealth LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,377 shares of the network equipment provider’s stock after acquiring an additional 2,173 shares during the quarter. Evoke Wealth LLC’s holdings in Cisco Systems were worth $2,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in CSCO. Swedbank AB grew its stake in Cisco Systems by 0.6% during the 3rd quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider’s stock valued at $480,555,000 after purchasing an additional 52,711 shares during the last quarter. Glass Wealth Management Co LLC grew its stake in Cisco Systems by 1.8% during the 3rd quarter. Glass Wealth Management Co LLC now owns 28,676 shares of the network equipment provider’s stock valued at $1,526,000 after purchasing an additional 506 shares during the last quarter. Aljian Capital Management LLC purchased a new stake in Cisco Systems during the 3rd quarter valued at about $428,000. Equity Investment Corp grew its stake in Cisco Systems by 0.5% during the 3rd quarter. Equity Investment Corp now owns 1,294,070 shares of the network equipment provider’s stock valued at $68,870,000 after purchasing an additional 6,574 shares during the last quarter. Finally, Aviso Wealth Management raised its stake in shares of Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after buying an additional 181 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSCO. JPMorgan Chase & Co. lifted their price objective on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Melius raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.63.

Insider Buying and Selling

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares of the company’s stock, valued at approximately $2,693,013.45. This trade represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 66,547 shares of company stock valued at $4,275,553 over the last quarter. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Up 0.6 %

Shares of NASDAQ:CSCO opened at $60.89 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The firm has a market capitalization of $242.24 billion, a PE ratio of 26.59, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The firm’s 50-day moving average is $61.83 and its two-hundred day moving average is $57.88. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.69%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

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.