Breakwater Capital Group Sells 1,350 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Breakwater Capital Group lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 15.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,372 shares of the network equipment provider’s stock after selling 1,350 shares during the quarter. Breakwater Capital Group’s holdings in Cisco Systems were worth $350,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in Cisco Systems during the 2nd quarter worth about $25,000. Delos Wealth Advisors LLC lifted its holdings in shares of Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares during the period. DiNuzzo Private Wealth Inc. purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $33,000. Retirement Group LLC increased its holdings in Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in Cisco Systems in the second quarter valued at approximately $36,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction that occurred on 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 approximately $7,997,250.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The disclosure for this sale can be found here. Insiders have sold a total of 68,565 shares of company stock valued at $3,395,953 over the last quarter. 0.02% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Wells Fargo & Company boosted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Finally, New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $55.89.

Cisco Systems Trading Down 1.7 %

NASDAQ:CSCO traded down $0.86 on Wednesday, reaching $49.85. The company’s stock had a trading volume of 14,564,170 shares, compared to its average volume of 19,749,945. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.19. The stock has a 50 day moving average price of $47.40 and a 200 day moving average price of $47.89. The firm has a market cap of $200.84 billion, a price-to-earnings ratio of 16.78, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

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

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.21%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

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.