B. Riley Wealth Advisors Inc. Sells 25,177 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

B. Riley Wealth Advisors Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 18.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,387 shares of the network equipment provider's stock after selling 25,177 shares during the quarter. B. Riley Wealth Advisors Inc.'s holdings in Cisco Systems were worth $6,772,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CSCO. Mainstream Capital Management LLC purchased a new position in shares of Cisco Systems during the 4th quarter worth $132,000. Proficio Capital Partners LLC lifted its position in Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after purchasing an additional 7,338 shares in the last quarter. CENTRAL TRUST Co lifted its position in Cisco Systems by 4.8% during the fourth quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider's stock valued at $6,636,000 after purchasing an additional 5,123 shares in the last quarter. Requisite Capital Management LLC purchased a new position in shares of Cisco Systems during the 4th quarter valued at about $1,670,000. Finally, Stonegate Investment Group LLC lifted its position in shares of Cisco Systems by 0.8% during the 4th quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider's stock valued at $91,142,000 after buying an additional 11,506 shares in the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Trading Down 0.6%

CSCO stock traded down $0.41 during midday trading on Wednesday, reaching $63.34. 13,768,093 shares of the company traded hands, compared to its average volume of 20,296,532. The business has a 50 day moving average of $59.16 and a 200-day moving average of $60.02. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The firm has a market capitalization of $250.83 billion, a price-to-earnings ratio of 27.66, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.59%. Cisco Systems's payout ratio is 66.94%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares of the company's stock, valued at $2,693,013.45. This represents a 1.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president now directly owns 181,186 shares in the company, valued at $11,505,311. The trade was a 5.05% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,431 shares of company stock worth $1,421,356. 0.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on CSCO shares. The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Piper Sandler lifted their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Citigroup lifted their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Rosenblatt Securities boosted their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research report on Tuesday, January 28th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $68.00.

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.