Everstar Asset Management LLC Has $536,000 Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Everstar Asset Management LLC reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 23.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,055 shares of the network equipment provider’s stock after selling 2,805 shares during the period. Everstar Asset Management LLC’s holdings in Cisco Systems were worth $536,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $26,000. Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $30,000. Campbell Capital Management Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth approximately $31,000. Highline Wealth Partners LLC increased its stake in shares of Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $36,000. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CSCO has been the subject of a number of research reports. Citigroup restated an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Thursday, March 6th. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price objective for the company in a research note on Tuesday, January 28th. Finally, UBS Group increased their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.63.

Insider Buying and Selling at Cisco Systems

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of the business’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the sale, the executive vice president now owns 200,191 shares of the company’s stock, valued at $12,886,294.67. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the firm’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % 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 worth $4,275,553 over the last ninety days. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $60.86 on Monday. The company has a market capitalization of $242.12 billion, a P/E ratio of 26.58, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The company’s 50-day moving average is $62.11 and its 200 day moving average is $58.60. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

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

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a $0.41 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

Cisco Systems declared that its board has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase programs are usually 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.