waypoint wealth counsel Purchases 400 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

waypoint wealth counsel increased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,455 shares of the network equipment provider’s stock after purchasing an additional 400 shares during the period. waypoint wealth counsel’s holdings in Cisco Systems were worth $830,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CSCO. Mainstream Capital Management LLC bought a new position in shares of Cisco Systems during the 4th quarter valued at approximately $132,000. Proficio Capital Partners LLC increased its position in Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock valued at $1,003,000 after acquiring an additional 7,338 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Cisco Systems by 28.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock valued at $249,180,000 after acquiring an additional 904,548 shares during the last quarter. Investment Management Corp of Ontario increased its position in Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock valued at $11,454,000 after acquiring an additional 59,680 shares during the last quarter. Finally, AlTi Global Inc. grew its holdings in Cisco Systems by 49.8% during the 4th quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock valued at $1,217,000 after purchasing an additional 6,811 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In related news, CEO Charles Robbins sold 29,784 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares in the company, valued at $44,478,105.49. The trade was a 4.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.54, for a total value of $571,902.04. Following the transaction, the executive vice president now owns 174,669 shares in the company, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,335 shares of company stock worth $6,271,054. Corporate insiders own 0.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on CSCO. Rosenblatt Securities upped their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. New Street Research reaffirmed a “neutral” rating and set a $70.00 target price on shares of Cisco Systems in a research note on Friday, May 16th. Wall Street Zen raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Piper Sandler upped their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.11.

Cisco Systems Price Performance

NASDAQ CSCO opened at $67.89 on Wednesday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The firm’s 50 day moving average price is $61.80 and its 200-day moving average price is $60.90. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $68.04. The company has a market cap of $268.84 billion, a PE ratio of 27.71, a P/E/G ratio of 4.03 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.04. The business 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 26.48% and a net margin of 17.60%. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is currently 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.