Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Everhart Financial Group Inc.

Everhart Financial Group Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,657 shares of the network equipment provider’s stock after purchasing an additional 1,773 shares during the quarter. Everhart Financial Group Inc.’s holdings in Cisco Systems were worth $1,522,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Glass Jacobson Investment Advisors llc increased its stake in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock worth $123,000 after acquiring an additional 166 shares during the period. Fairhaven Wealth Management LLC boosted its holdings in Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after purchasing an additional 167 shares during the last quarter. BlackDiamond Wealth Management LLC grew its position in Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after purchasing an additional 168 shares during the period. Legacy Financial Group Inc. raised its stake in shares of Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock valued at $302,000 after buying an additional 169 shares during the last quarter. Finally, Maple Capital Management Inc. lifted its holdings in shares of Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider’s stock valued at $709,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 2,407 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 177,027 shares in the company, valued at approximately $11,331,498.27. This trade represents a 1.34% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeetendra I. Patel sold 899 shares of the business’s 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 now owns 255,377 shares of the company’s stock, valued at approximately $16,413,079.79. The trade was a 0.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,931 shares of company stock worth $4,671,930 in the last ninety days. 0.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on CSCO shares. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Piper Sandler raised their target price on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Finally, UBS Group upped their price target on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $68.00.

Cisco Systems Stock Up 1.4%

Shares of NASDAQ CSCO opened at $65.10 on Friday. The company has a market capitalization of $257.80 billion, a P/E ratio of 28.43, a P/E/G ratio of 4.16 and a beta of 0.88. 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 company has a 50 day simple moving average of $60.25 and a 200-day simple moving average of $60.53. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 66.94%.

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.