Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 12.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 139,564 shares of the network equipment provider’s stock after selling 20,491 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Cisco Systems were worth $7,410,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after buying an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC boosted its stake in Cisco Systems by 1.3% in the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after acquiring an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Cisco Systems by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after purchasing an additional 1,677,383 shares during the period. Bank of New York Mellon Corp boosted its position in Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after purchasing an additional 1,853,598 shares during the period. Finally, FMR LLC grew its stake in Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the sale, the executive vice president now owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. The trade was a 9.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $9,873,562.56. Following the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at $45,059,857.14. The trade was 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 three months. Insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CSCO. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $55.00 to $66.00 in a research note on Monday, November 11th. UBS Group upped their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Morgan Stanley upped their target price on Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Finally, Evercore ISI upped their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Cisco Systems Price Performance

Shares of CSCO opened at $58.62 on Friday. The business’s 50-day moving average is $57.13 and its 200-day moving average is $51.33. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a market capitalization of $233.47 billion, a price-to-earnings ratio of 25.16, a P/E/G ratio of 4.37 and a beta of 0.85. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.23.

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

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Cisco Systems Company 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.