Waverly Advisors LLC Has $4.44 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Waverly Advisors LLC lifted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 62.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 88,995 shares of the network equipment provider’s stock after purchasing an additional 34,046 shares during the period. Waverly Advisors LLC’s holdings in Cisco Systems were worth $4,442,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CSCO. Norges Bank bought a new stake in shares of Cisco Systems during the fourth quarter worth $2,528,939,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Cisco Systems by 9.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares during the last quarter. FIL Ltd grew its holdings in shares of Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after purchasing an additional 6,054,748 shares during the last quarter. Natixis grew its holdings in shares of Cisco Systems by 438.4% during the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after purchasing an additional 4,010,228 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Cisco Systems by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock valued at $895,576,000 after acquiring an additional 3,989,543 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ CSCO remained flat at $47.99 during trading on Tuesday. The company’s stock had a trading volume of 8,770,514 shares, compared to its average volume of 19,461,512. The firm has a market cap of $193.34 billion, a P/E ratio of 16.25, a PEG ratio of 2.77 and a beta of 0.85. The company has a 50 day moving average price of $46.74 and a 200-day moving average price of $48.33. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. Cisco Systems, Inc. has a 12-month low of $44.95 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.33%. The ex-dividend date was Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

Analyst Ratings Changes

Several research firms recently issued reports on CSCO. Morgan Stanley began coverage on Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target on the stock. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a report on Monday, May 13th. Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a report on Tuesday, April 9th. Wells Fargo & Company raised their price target on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $56.47.

Insider Buying and Selling at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now owns 51,788 shares in the company, valued at approximately $2,352,210.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the sale, the senior vice president now owns 51,788 shares in the company, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,106 shares of company stock worth $1,908,923. Corporate insiders own 0.02% of the company’s stock.

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.