Waycross Investment Management Co Sells 2,680 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Waycross Investment Management Co lowered its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,665 shares of the network equipment provider’s stock after selling 2,680 shares during the quarter. Waycross Investment Management Co’s holdings in Cisco Systems were worth $993,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Gabelli Funds LLC lifted its holdings in shares of Cisco Systems by 1.6% during the 4th quarter. Gabelli Funds LLC now owns 38,730 shares of the network equipment provider’s stock valued at $1,957,000 after purchasing an additional 620 shares during the last quarter. Morningstar Investment Services LLC boosted its holdings in Cisco Systems by 42.2% in the fourth quarter. Morningstar Investment Services LLC now owns 21,815 shares of the network equipment provider’s stock worth $1,101,000 after acquiring an additional 6,472 shares in the last quarter. CenterBook Partners LP acquired a new stake in Cisco Systems in the fourth quarter worth about $1,885,000. Waterloo Capital L.P. purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $554,000. Finally, Westwood Holdings Group Inc. raised its position in shares of Cisco Systems by 8.1% in the 4th quarter. Westwood Holdings Group Inc. now owns 193,873 shares of the network equipment provider’s stock valued at $9,794,000 after purchasing an additional 14,479 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at approximately $6,821,929.52. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of several research analyst reports. Barclays dropped their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. Evercore ISI raised their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Jefferies Financial Group reduced their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $55.00.

Cisco Systems Price Performance

NASDAQ:CSCO traded up $0.32 during trading hours on Friday, reaching $52.75. 11,728,606 shares of the company were exchanged, compared to its average volume of 19,368,709. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm has a market cap of $212.52 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $54.58. The stock’s 50-day moving average is $49.58 and its 200-day moving average is $48.27.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the business earned $1.01 EPS. Cisco Systems’s quarterly revenue was down 10.3% on a year-over-year basis. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.03%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 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.