Waterway Wealth Management LLC Purchases 1,958 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Waterway Wealth Management LLC raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.7% in the 4th quarter, Holdings Channel.com reports. The firm 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 investment portfolio, 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.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in shares of Cisco Systems in the fourth quarter worth about $26,000. Highline Wealth Partners LLC lifted its position in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after purchasing an additional 260 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems in the 3rd quarter worth $40,000. Decker Retirement Planning Inc. bought a new stake in shares of Cisco Systems during the 4th quarter worth $49,000. Finally, Capital Performance Advisors LLP purchased a new position in Cisco Systems in the third quarter worth $51,000. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the sale, the executive vice president now directly owns 200,191 shares in the company, valued at $12,886,294.67. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at approximately $47,413,489.20. The trade was a 4.16 % 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. Insiders own 0.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CSCO shares. DZ Bank raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Piper Sandler increased their price objective on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. The Goldman Sachs Group increased their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Melius raised shares of 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 research report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $66.63.

Cisco Systems Stock Performance

Shares of NASDAQ CSCO opened at $63.81 on Friday. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The firm has a market capitalization of $253.85 billion, a price-to-earnings ratio of 27.86, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a 50 day moving average of $61.12 and a 200 day moving average of $56.66.

Cisco Systems (NASDAQ:CSCO) last announced 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%. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

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

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.