Advisors Asset Management Inc. Sells 10,952 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Advisors Asset Management Inc. lessened its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 748,852 shares of the network equipment provider’s stock after selling 10,952 shares during the period. Cisco Systems makes up about 0.7% of Advisors Asset Management Inc.’s portfolio, making the stock its 13th largest holding. Advisors Asset Management Inc.’s holdings in Cisco Systems were worth $39,854,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CSCO. Summit Securities Group LLC bought a new stake in shares of Cisco Systems in the second quarter worth $25,000. Quarry LP grew its position in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC increased its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems during the second quarter worth about $36,000. Finally, Iron Horse Wealth Management LLC lifted its stake in shares of Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after acquiring an additional 766 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.5 %

Shares of NASDAQ:CSCO opened at $57.01 on Wednesday. The stock has a market cap of $227.51 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 4.67 and a beta of 0.83. The business’s 50 day moving average is $54.52 and its 200 day moving average is $49.95. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was down 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. Cisco Systems’s payout ratio is presently 68.67%.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 58,188 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $3,345,228.12. Following the transaction, the executive vice president now directly owns 219,100 shares of the company’s stock, valued at approximately $12,596,059. The trade was a 20.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $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 sold a total of 321,628 shares of company stock valued at $18,449,561 over the last three months. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CSCO. UBS Group raised their price target 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. Barclays boosted their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Wells Fargo & Company lifted their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” 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, Citigroup lifted their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $59.94.

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.