EverSource Wealth Advisors LLC Has $1.35 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• EverSource Wealth Advisors LLC increased its investment in Cisco Systems by 33.2%, owning 21,885 shares valued at approximately $1.35 million.
• Several large investors, including Vanguard Group, Northern Trust Corp, and Goldman Sachs, have also recently raised their stakes in Cisco, indicating strong institutional interest.
• Cisco reported better-than-expected earnings for the most recent quarter, posting an EPS of $0.99 against a consensus estimate of $0.98, alongside a year-over-year revenue increase of 7.6%.

EverSource Wealth Advisors LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 33.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,885 shares of the network equipment provider's stock after buying an additional 5,458 shares during the period. EverSource Wealth Advisors LLC's holdings in Cisco Systems were worth $1,350,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Cisco Systems by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 388,949,854 shares of the network equipment provider's stock worth $24,002,095,000 after buying an additional 1,865,648 shares during the last quarter. Northern Trust Corp lifted its stake in Cisco Systems by 11.4% in the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock valued at $2,796,505,000 after purchasing an additional 4,832,813 shares during the last quarter. Invesco Ltd. lifted its stake in Cisco Systems by 10.4% in the 1st quarter. Invesco Ltd. now owns 47,117,146 shares of the network equipment provider's stock valued at $2,907,599,000 after purchasing an additional 4,437,450 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Cisco Systems by 37.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 46,973,293 shares of the network equipment provider's stock valued at $2,898,722,000 after purchasing an additional 12,775,066 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Cisco Systems by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after purchasing an additional 2,637,006 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 4,185 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the transaction, the senior vice president directly owned 38,103 shares in the company, valued at $2,419,921.53. The trade was a 9.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total transaction of $571,902.04. Following the transaction, the executive vice president owned 174,669 shares of the company's stock, valued at approximately $11,447,806.26. This represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 77,731 shares of company stock valued at $5,021,519. 0.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 12th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the company from $65.00 to $73.00 in a research note on Monday, June 16th. HSBC reiterated a "hold" rating and issued a $69.00 target price on shares of Cisco Systems in a research note on Friday. Rosenblatt Securities reiterated a "buy" rating and issued a $87.00 target price on shares of Cisco Systems in a research note on Thursday. Finally, Bank of America raised their target price on shares of Cisco Systems from $76.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday. Eight equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $74.53.

Cisco Systems Stock Down 4.5%

Shares of CSCO opened at $66.20 on Friday. Cisco Systems, Inc. has a 12 month low of $47.85 and a 12 month high of $72.55. The firm's 50 day moving average is $67.98 and its 200-day moving average is $63.33. The stock has a market capitalization of $262.15 billion, a PE ratio of 25.27, a P/E/G ratio of 3.84 and a beta of 0.91. The company has a current ratio of 1.01, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, August 13th. The network equipment provider reported $0.99 EPS for the quarter, topping the consensus estimate of $0.98 by $0.01. Cisco Systems had a net margin of 18.45% and a return on equity of 27.02%. The company had revenue of $14.67 billion for the quarter, compared to analysts' expectations of $14.63 billion. During the same period last year, the firm earned $0.87 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 22nd. Shareholders of record on Friday, October 3rd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, October 3rd. Cisco Systems's payout ratio is currently 66.94%.

Cisco Systems 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.

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