Waterway Wealth Management LLC Invests $463,000 in Cisco Systems, Inc. (NASDAQ:CSCO)

Waterway Wealth Management LLC acquired a new position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 9,156 shares of the network equipment provider’s stock, valued at approximately $463,000.

A number of other hedge funds have also modified their holdings of CSCO. Trust Co of the South purchased a new stake in Cisco Systems in the 4th quarter worth approximately $411,000. Smith Anglin Financial LLC grew its stake in Cisco Systems by 5.9% in the 4th quarter. Smith Anglin Financial LLC now owns 4,677 shares of the network equipment provider’s stock worth $236,000 after acquiring an additional 259 shares during the period. Tectonic Advisors LLC grew its stake in Cisco Systems by 8.9% in the 4th quarter. Tectonic Advisors LLC now owns 116,602 shares of the network equipment provider’s stock worth $5,891,000 after acquiring an additional 9,501 shares during the period. Vision Capital Management Inc. boosted its holdings in shares of Cisco Systems by 1.5% in the 4th quarter. Vision Capital Management Inc. now owns 41,181 shares of the network equipment provider’s stock valued at $2,080,000 after purchasing an additional 604 shares during the last quarter. Finally, Abundance Wealth Counselors boosted its holdings in shares of Cisco Systems by 2.6% in the 4th quarter. Abundance Wealth Counselors now owns 48,844 shares of the network equipment provider’s stock valued at $2,468,000 after purchasing an additional 1,233 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

NASDAQ:CSCO traded down $0.13 during trading hours on Tuesday, reaching $49.55. 13,001,850 shares of the stock were exchanged, compared to its average volume of 20,009,225. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $49.80 and a 200-day simple moving average of $50.99. Cisco Systems, Inc. has a 52 week low of $45.56 and a 52 week high of $58.19. The stock has a market capitalization of $200.64 billion, a P/E ratio of 15.06, a P/E/G ratio of 2.25 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The company had revenue of $12.79 billion for the quarter, compared to the consensus estimate of $12.71 billion. During the same quarter last year, the business posted $0.76 EPS. Cisco Systems’s quarterly revenue was down 5.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.16 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio (DPR) is currently 47.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CSCO shares. Piper Sandler lifted their price target on shares of Cisco Systems from $47.00 to $51.00 and gave the company a “neutral” rating in a report on Wednesday, March 20th. Wells Fargo & Company started coverage on shares of Cisco Systems in a report on Thursday, February 15th. They issued an “equal weight” rating and a $52.00 price target on the stock. Barclays lifted their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, February 15th. Finally, UBS Group lifted their price target on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Monday, February 12th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $56.42.

Insiders Place Their Bets

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at approximately $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now directly owns 191,559 shares in the company, valued at approximately $9,579,865.59. The disclosure for this sale can be found here. Insiders have sold a total of 19,441 shares of company stock valued at $972,080 in the last quarter. Insiders own 0.02% of the company’s stock.

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.