Evergreen Capital Management LLC Raises Stock Holdings in Cisco Systems, Inc. $CSCO

Key Points

• Evergreen Capital Management raised its stake in Cisco Systems (NASDAQ:CSCO) by 8.3% in Q4, buying 26,950 shares to own 350,699 shares valued at about $27.01 million.
• Cisco reported stronger-than-expected results and boosted its dividend, posting $1.04 EPS vs. $1.02 estimates and $15.35B revenue (up 9.7% YoY), and raising the quarterly dividend to $0.42 (annualized $1.68, ~1.9% yield).

Evergreen Capital Management LLC boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 350,699 shares of the network equipment provider's stock after purchasing an additional 26,950 shares during the period. Evergreen Capital Management LLC's holdings in Cisco Systems were worth $27,014,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CSCO. Arrowstreet Capital Limited Partnership raised its stake in shares of Cisco Systems by 110.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 18,406,442 shares of the network equipment provider's stock worth $1,259,369,000 after buying an additional 9,648,265 shares during the period. Wellington Management Group LLP raised its stake in Cisco Systems by 19.5% during the 3rd quarter. Wellington Management Group LLP now owns 33,748,414 shares of the network equipment provider's stock valued at $2,309,066,000 after purchasing an additional 5,498,375 shares during the period. Invesco Ltd. raised its stake in Cisco Systems by 10.5% during the 3rd quarter. Invesco Ltd. now owns 53,612,720 shares of the network equipment provider's stock valued at $3,668,182,000 after purchasing an additional 5,081,469 shares during the period. Danske Bank A S bought a new stake in Cisco Systems during the 3rd quarter valued at approximately $233,956,000. Finally, Legal & General Group Plc raised its stake in Cisco Systems by 7.2% during the 3rd quarter. Legal & General Group Plc now owns 37,674,954 shares of the network equipment provider's stock valued at $2,577,720,000 after purchasing an additional 2,535,716 shares during the period. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Up 1.7%

CSCO opened at $87.71 on Tuesday. The firm has a 50-day simple moving average of $79.88 and a two-hundred day simple moving average of $76.92. Cisco Systems, Inc. has a 52 week low of $53.83 and a 52 week high of $88.35. The company has a market capitalization of $346.44 billion, a PE ratio of 30.78, a price-to-earnings-growth ratio of 3.25 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business had revenue of $15.35 billion during the quarter, compared to analysts' expectations of $15.11 billion. During the same period last year, the company posted $0.94 EPS. The business's revenue was up 9.7% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 3.4 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Thursday, April 2nd. This is an increase from Cisco Systems's previous quarterly dividend of $0.41. Cisco Systems's dividend payout ratio is 58.95%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 2,179 shares of the business's stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total transaction of $169,395.46. Following the transaction, the senior vice president owned 28,807 shares of the company's stock, valued at approximately $2,239,456.18. The trade was a 7.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 19,545 shares of the business's stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the transaction, the chief executive officer directly owned 671,095 shares in the company, valued at approximately $51,003,220. This represents a 2.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 46,431 shares of company stock worth $3,574,820. Insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings reissued a "buy (b)" rating on shares of Cisco Systems in a research note on Tuesday, January 27th. Truist Financial initiated coverage on shares of Cisco Systems in a report on Tuesday, March 31st. They set a "buy" rating and a $94.00 price objective for the company. Rosenblatt Securities reissued a "buy" rating and set a $100.00 price objective on shares of Cisco Systems in a report on Thursday, February 12th. Argus raised shares of Cisco Systems to a "strong-buy" rating in a report on Friday, February 13th. Finally, HSBC increased their price objective on shares of Cisco Systems from $74.00 to $77.00 and gave the company a "hold" rating in a report on Friday, February 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $89.81.

Cisco Systems Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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