Sheaff Brock Investment Advisors LLC Sells 5,544 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Sheaff Brock Investment Advisors LLC reduced its shares in Cisco Systems by 3.6%, selling 5,544 shares, now holding a total of 146,828 shares valued at approximately $9.06 million.
• Cisco's quarterly earnings surpassed expectations, reporting $0.96 EPS and revenue of $14.15 billion, marking an 11.4% increase compared to the previous year.
• Insider trading activity included CEO Charles Robbins selling nearly 30,000 shares valued at approximately $1.92 million, indicating a 4.15% decrease in his ownership.

Sheaff Brock Investment Advisors LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,828 shares of the network equipment provider's stock after selling 5,544 shares during the quarter. Cisco Systems accounts for approximately 0.8% of Sheaff Brock Investment Advisors LLC's investment portfolio, making the stock its 23rd largest position. Sheaff Brock Investment Advisors LLC's holdings in Cisco Systems were worth $9,061,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Glass Jacobson Investment Advisors llc lifted its position in Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after purchasing an additional 166 shares during the period. Legacy Financial Group Inc. lifted its holdings in shares of Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after acquiring an additional 169 shares during the last quarter. Capital Advantage Inc. lifted its holdings in shares of Cisco Systems by 1.0% in the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider's stock worth $1,028,000 after acquiring an additional 172 shares during the last quarter. Wealthstream Advisors Inc. lifted its holdings in shares of Cisco Systems by 5.5% in the first quarter. Wealthstream Advisors Inc. now owns 3,687 shares of the network equipment provider's stock worth $228,000 after acquiring an additional 191 shares during the last quarter. Finally, EdgeRock Capital LLC lifted its holdings in shares of Cisco Systems by 3.9% in the first quarter. EdgeRock Capital LLC now owns 5,232 shares of the network equipment provider's stock worth $323,000 after acquiring an additional 197 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Insider Activity

In related news, CEO Charles Robbins sold 29,784 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer directly owned 688,409 shares in the company, valued at $44,478,105.49. This trade represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 completion of the transaction, the executive vice president owned 181,186 shares in the company, valued at approximately $11,505,311. This represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,335 shares of company stock worth $6,271,054. Company insiders own 0.01% of the company's stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $68.69 on Monday. The company has a market capitalization of $272.01 billion, a PE ratio of 28.04, a P/E/G ratio of 4.11 and a beta of 0.90. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.78. The company has a 50 day simple moving average of $66.43 and a two-hundred day simple moving average of $62.46. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend was Thursday, July 3rd. Cisco Systems's payout ratio is 66.94%.

Analyst Ratings Changes

A number of research analysts have recently commented on CSCO shares. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their target price for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. KeyCorp began coverage on shares of Cisco Systems in a report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 target price for the company. Finally, Evercore ISI upped their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.35.

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.

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