waypoint wealth counsel Increases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

waypoint wealth counsel increased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 13,455 shares of the network equipment provider’s stock after buying an additional 400 shares during the quarter. waypoint wealth counsel’s holdings in Cisco Systems were worth $830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Mainstream Capital Management LLC purchased a new stake in Cisco Systems during the 4th quarter valued at about $132,000. Proficio Capital Partners LLC boosted its position in Cisco Systems by 76.4% in the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after buying an additional 7,338 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Cisco Systems by 28.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock valued at $249,180,000 after buying an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario boosted its position in Cisco Systems by 44.6% in the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock valued at $11,454,000 after buying an additional 59,680 shares during the last quarter. Finally, AlTi Global Inc. boosted its position in Cisco Systems by 49.8% in the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock valued at $1,217,000 after buying an additional 6,811 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 8,726 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the transaction, the executive vice president now directly owns 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the completion of the transaction, the senior vice president now directly owns 36,937 shares in the company, valued at approximately $2,366,553.59. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock worth $6,271,054 over the last quarter. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CSCO. Evercore ISI upped their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. New Street Research restated a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and an average target price of $69.11.

Cisco Systems Stock Performance

CSCO opened at $67.89 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a market cap of $268.84 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 4.03 and a beta of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $68.04. The firm’s fifty day simple moving average is $61.80 and its two-hundred day simple moving average is $60.90.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the company posted $0.88 EPS. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.42%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

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.