waypoint wealth counsel Sells 8,147 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

waypoint wealth counsel decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 39.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,767 shares of the network equipment provider’s stock after selling 8,147 shares during the period. waypoint wealth counsel’s holdings in Cisco Systems were worth $607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. Signet Investment Advisory Group Inc. grew its holdings in Cisco Systems by 3.1% during the 2nd quarter. Signet Investment Advisory Group Inc. now owns 75,205 shares of the network equipment provider’s stock worth $3,573,000 after acquiring an additional 2,260 shares during the period. Marietta Wealth Management LLC acquired a new position in Cisco Systems during the second quarter valued at approximately $404,000. OFI Invest Asset Management increased its stake in Cisco Systems by 39,018.3% in the second quarter. OFI Invest Asset Management now owns 278,522 shares of the network equipment provider’s stock valued at $12,347,000 after purchasing an additional 277,810 shares in the last quarter. Oakworth Capital Inc. raised its holdings in Cisco Systems by 3.2% in the second quarter. Oakworth Capital Inc. now owns 30,933 shares of the network equipment provider’s stock worth $1,470,000 after purchasing an additional 956 shares during the period. Finally, Bellecapital International Ltd. boosted its position in shares of Cisco Systems by 291.7% during the second quarter. Bellecapital International Ltd. now owns 58,915 shares of the network equipment provider’s stock worth $2,799,000 after purchasing an additional 43,875 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded up $0.93 on Friday, reaching $49.46. 27,424,886 shares of the company’s stock were exchanged, compared to its average volume of 19,935,170. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $58.19. The company has a fifty day moving average of $46.74 and a 200-day moving average of $47.88. The company has a market capitalization of $199.27 billion, a price-to-earnings ratio of 16.65, a PEG ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the business earned $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% on a year-over-year basis. On average, research analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.23%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. Insiders have sold 33,090 shares of company stock valued at $1,522,231 over the last ninety days. 0.02% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CSCO has been the subject of several research analyst reports. StockNews.com cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday. Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday. Finally, Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $55.89.

Cisco Systems 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.