Cisco Systems, Inc. (NASDAQ:CSCO) Position Reduced by Breakwater Capital Group

Breakwater Capital Group cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 4.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,444 shares of the network equipment provider’s stock after selling 335 shares during the period. Breakwater Capital Group’s holdings in Cisco Systems were worth $381,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CSCO. Wallace Advisory Group LLC lifted its position in shares of Cisco Systems by 8.2% in the fourth quarter. Wallace Advisory Group LLC now owns 22,993 shares of the network equipment provider’s stock worth $1,361,000 after purchasing an additional 1,738 shares in the last quarter. GSG Advisors LLC purchased a new stake in shares of Cisco Systems in the fourth quarter worth approximately $227,000. Rosenberg Matthew Hamilton lifted its position in shares of Cisco Systems by 3.1% in the fourth quarter. Rosenberg Matthew Hamilton now owns 6,671 shares of the network equipment provider’s stock worth $395,000 after purchasing an additional 202 shares in the last quarter. MRA Advisory Group lifted its position in shares of Cisco Systems by 5.0% in the fourth quarter. MRA Advisory Group now owns 5,975 shares of the network equipment provider’s stock worth $354,000 after purchasing an additional 287 shares in the last quarter. Finally, Global Financial Private Client LLC lifted its position in shares of Cisco Systems by 26.8% in the fourth quarter. Global Financial Private Client LLC now owns 35,336 shares of the network equipment provider’s stock worth $2,092,000 after purchasing an additional 7,468 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Stock Up 1.0 %

CSCO stock opened at $59.33 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $236.30 billion, a PE ratio of 25.46, a PEG ratio of 4.37 and a beta of 0.85. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.23. The business’s 50 day simple moving average is $58.79 and its 200 day simple moving average is $53.34.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Insider Buying and Selling at Cisco Systems

In other news, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the sale, the director now directly owns 65,915 shares of the company’s stock, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock valued at $20,349,721 in the last ninety days. 0.01% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CSCO has been the topic of several recent research reports. Bank of America raised their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Melius Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Citigroup raised their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley raised their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.28.

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.