Evermay Wealth Management LLC increased its position in Cisco Systems Inc. (NASDAQ:CSCO) by 11.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,386 shares of the network equipment provider’s stock after buying an additional 1,101 shares during the period. Evermay Wealth Management LLC’s holdings in Cisco Systems were worth $298,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of CSCO. Curbstone Financial Management Corp boosted its position in shares of Cisco Systems by 2.0% in the first quarter. Curbstone Financial Management Corp now owns 76,504 shares of the network equipment provider’s stock valued at $2,178,000 after buying an additional 1,500 shares during the period. Hollencrest Securities LLC boosted its position in shares of Cisco Systems by 0.4% in the first quarter. Hollencrest Securities LLC now owns 35,453 shares of the network equipment provider’s stock valued at $1,009,000 after buying an additional 128 shares during the period. Founders Capital Management LLC boosted its position in shares of Cisco Systems by 4.3% in the first quarter. Founders Capital Management LLC now owns 79,915 shares of the network equipment provider’s stock valued at $2,275,000 after buying an additional 3,283 shares during the period. Pensionfund Sabic acquired a new position in shares of Cisco Systems during the first quarter valued at about $3,416,000. Finally, Pensionfund DSM Netherlands acquired a new position in shares of Cisco Systems during the first quarter valued at about $7,402,000. 75.04% of the stock is owned by institutional investors and hedge funds.

Shares of Cisco Systems Inc. (NASDAQ:CSCO) traded down 1.50% during trading on Friday, reaching $30.84. 37,416,316 shares of the company’s stock were exchanged. Cisco Systems Inc. has a 52 week low of $22.46 and a 52 week high of $31.95. The stock has a market capitalization of $154.64 billion, a PE ratio of 14.62 and a beta of 1.37. The company’s 50-day moving average is $31.06 and its 200 day moving average is $28.94.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The business earned $12.60 billion during the quarter, compared to analyst estimates of $12.57 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.59 earnings per share. On average, analysts forecast that Cisco Systems Inc. will post $2.43 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a $0.26 dividend. The ex-dividend date is Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.37%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.06%.

Several research analysts recently issued reports on CSCO shares. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 target price for the company. in a report on Monday, September 5th. Jefferies Group reissued a “buy” rating and set a $35.00 target price on shares of Cisco Systems in a report on Monday, August 29th. Deutsche Bank AG raised their target price on shares of Cisco Systems from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $34.00 target price (up previously from $30.00) on shares of Cisco Systems in a report on Friday, August 5th. Finally, Argus raised their target price on shares of Cisco Systems from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, August 19th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $31.97.

In related news, Director Carol Bartz sold 15,000 shares of Cisco Systems stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $31.25, for a total value of $468,750.00. Following the completion of the sale, the director now owns 23,104 shares in the company, valued at $722,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prat Bhatt sold 25,706 shares of Cisco Systems stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $31.02, for a total transaction of $797,400.12. Following the completion of the sale, the senior vice president now owns 133,113 shares of the company’s stock, valued at approximately $4,129,165.26. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

About Cisco Systems

Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

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