Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Breakwater Capital Group

Breakwater Capital Group lifted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 61.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,422 shares of the network equipment provider’s stock after buying an additional 3,978 shares during the quarter. Breakwater Capital Group’s holdings in Cisco Systems were worth $643,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Tallon Kerry Patrick purchased a new stake in Cisco Systems during the 4th quarter worth about $603,000. Brighton Jones LLC lifted its stake in Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock worth $4,392,000 after purchasing an additional 24,562 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock worth $542,000 after purchasing an additional 2,474 shares during the last quarter. Sargent Investment Group LLC increased its stake in Cisco Systems by 16.0% in the fourth quarter. Sargent Investment Group LLC now owns 6,308 shares of the network equipment provider’s stock valued at $371,000 after purchasing an additional 872 shares during the last quarter. Finally, Private Management Group Inc. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $220,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the company’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider now directly owns 257,162 shares in the company, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the transaction, the executive vice president now directly owns 131,676 shares of the company’s stock, valued at approximately $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,616 shares of company stock valued at $2,640,095. 0.01% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently commented on CSCO shares. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Evercore ISI upped their target price on Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, May 15th. Finally, DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Eight analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.00.

Cisco Systems Stock Up 0.4%

CSCO stock opened at $64.62 on Friday. The stock has a market capitalization of $255.90 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The company has a fifty day moving average of $59.52 and a 200-day moving average of $60.27. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.04. The company had revenue of $14.15 billion for the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.88 EPS. As a group, analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.54%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

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.