Everence Capital Management Inc. Has $6.99 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Everence Capital Management Inc. lifted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 138,330 shares of the network equipment provider’s stock after acquiring an additional 6,550 shares during the quarter. Everence Capital Management Inc.’s holdings in Cisco Systems were worth $6,988,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its holdings in Cisco Systems by 112,307.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock worth $2,835,509,000 after purchasing an additional 59,466,550 shares during the last quarter. Norges Bank acquired a new position in Cisco Systems in the fourth quarter valued at approximately $2,028,781,000. Morgan Stanley boosted its stake in Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after acquiring an additional 9,160,347 shares during the last quarter. Barclays PLC grew its holdings in Cisco Systems by 83.6% during the 2nd quarter. Barclays PLC now owns 14,544,909 shares of the network equipment provider’s stock worth $752,554,000 after acquiring an additional 6,621,125 shares during the period. Finally, State Street Corp raised its position in shares of Cisco Systems by 2.2% during the 1st quarter. State Street Corp now owns 184,879,450 shares of the network equipment provider’s stock valued at $9,664,544,000 after acquiring an additional 4,061,022 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded down $0.32 on Tuesday, hitting $47.92. The stock had a trading volume of 13,938,019 shares, compared to its average volume of 19,585,563. The stock has a market cap of $194.04 billion, a price-to-earnings ratio of 14.62, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. The business’s 50 day moving average is $49.22 and its two-hundred day moving average is $50.37. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. Cisco Systems, Inc. has a twelve month low of $45.56 and a twelve month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.03. The firm had revenue of $12.79 billion for the quarter, compared to analysts’ expectations of $12.71 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 EPS. Analysts forecast that Cisco Systems, Inc. will post 3.15 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.34%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. The ex-dividend date is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is presently 48.63%.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $50.00, for a total transaction of $697,100.00. Following the completion of the transaction, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on CSCO shares. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Melius lowered Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Wells Fargo & Company began coverage on Cisco Systems in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price objective for the company. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. Finally, Piper Sandler raised their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a “neutral” rating in a report on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.03.

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.