B. Riley Wealth Advisors Inc. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 18.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,387 shares of the network equipment provider's stock after selling 25,177 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Cisco Systems were worth $6,772,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. FPC Investment Advisory Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at $26,000. Navigoe LLC bought a new position in Cisco Systems during the 4th quarter worth $26,000. Mpwm Advisory Solutions LLC acquired a new position in Cisco Systems during the 4th quarter worth about $26,000. JDM Financial Group LLC increased its stake in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems during the fourth quarter worth about $30,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Trading Up 1.0%
CSCO traded up $0.64 during trading hours on Tuesday, reaching $63.75. 17,422,554 shares of the company's stock traded hands, compared to its average volume of 20,322,613. 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 $252.45 billion, a PE ratio of 27.84, a PEG ratio of 4.16 and a beta of 0.89. The firm has a 50-day moving average price of $59.09 and a 200 day moving average price of $59.99. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 earnings per share. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.
Cisco Systems declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on CSCO. Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. DZ Bank upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. BNP Paribas raised shares of 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. The Goldman Sachs Group upped their price target on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, Citigroup raised their price objective on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $68.00.
Check Out Our Latest Analysis on Cisco Systems
Insider Activity at Cisco Systems
In other news, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the transaction, the insider now directly owns 257,162 shares in the company, valued at $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. The trade was a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 22,431 shares of company stock valued at $1,421,356 over the last quarter. 0.01% of the stock is owned by corporate insiders.
Cisco Systems Profile
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Free Report)
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.
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