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

Waycross Investment Management Co cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Cisco Systems in the second quarter worth $25,000. Quarry LP raised its holdings in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the period. Retirement Group LLC lifted its position in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems in the second quarter worth about $36,000. Finally, Redmont Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the first quarter worth about $41,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Trading Up 0.6 %

Shares of CSCO stock traded up $0.32 during trading hours on Friday, reaching $52.75. 11,728,606 shares of the stock were exchanged, compared to its average volume of 19,368,709. The firm has a market capitalization of $212.52 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $54.58. The company’s 50-day moving average price is $49.58 and its 200-day moving average price is $48.27. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.03%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, 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 transaction of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Barclays dropped their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Rosenblatt Securities lifted their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus target price of $55.00.

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.