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

B. Riley Wealth Advisors Inc. cut its position in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 18.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

Other hedge funds have also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in shares of Cisco Systems in the fourth quarter valued at $26,000. Navigoe LLC bought a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC raised its stake in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new stake in shares of Cisco Systems during the 4th quarter valued at $30,000. 73.33% of the stock is currently owned by institutional investors.

Insider Activity

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the transaction, the insider now owns 257,162 shares of the company's stock, valued at $16,450,653.14. This represents a 3.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were 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 of the company's stock, valued at $11,505,311. The trade was a 5.05% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,431 shares of company stock valued at $1,421,356. Insiders own 0.01% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. 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 note on Thursday, May 15th. Piper Sandler boosted their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, UBS Group boosted their target price on Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Cisco Systems Price Performance

Shares of CSCO traded down $0.39 during midday trading on Thursday, reaching $62.95. The stock had a trading volume of 6,678,465 shares, compared to its average volume of 20,252,010. The company's 50-day moving average is $59.22 and its 200 day moving average is $60.04. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $249.27 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the prior year, the business earned $0.88 EPS. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

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

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

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.