Waterway Wealth Management LLC Has $808,000 Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Waterway Wealth Management LLC raised its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 16.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 13,650 shares of the network equipment provider’s stock after acquiring an additional 1,958 shares during the period. Cisco Systems makes up 0.4% of Waterway Wealth Management LLC’s holdings, making the stock its 27th largest position. Waterway Wealth Management LLC’s holdings in Cisco Systems were worth $808,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of CSCO. Morse Asset Management Inc bought a new position in Cisco Systems in the third quarter valued at approximately $798,000. HighVista Strategies LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at about $1,698,000. GAMMA Investing LLC grew its holdings in shares of Cisco Systems by 13.1% during the fourth quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after buying an additional 10,813 shares in the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Cisco Systems in the third quarter worth $502,000. Finally, Quintet Private Bank Europe S.A. boosted its holdings in Cisco Systems by 17.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after purchasing an additional 92,179 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of Cisco Systems stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the transaction, the director now owns 65,915 shares in the company, valued at $3,946,331.05. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 74,848 shares of company stock worth $4,767,206 over the last quarter. Company insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CSCO. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $66.00 to $73.00 in a report on Monday, January 6th. Citigroup boosted their target price on shares of Cisco Systems from $71.00 to $73.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler increased their price target on shares of Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Melius Research upgraded Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Bank of America lifted their target price on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.63.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $63.81 on Friday. The company has a market capitalization of $253.85 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 4.16 and a beta of 0.84. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock has a fifty day simple moving average of $61.12 and a 200 day simple moving average of $56.66.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has authorized a share repurchase plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio (DPR) is currently 71.62%.

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.