Sheaff Brock Investment Advisors LLC Decreases Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Sheaff Brock Investment Advisors LLC trimmed its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 50.4% during the third quarter, HoldingsChannel.com reports. The firm owned 90,675 shares of the network equipment provider’s stock after selling 92,119 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Cisco Systems were worth $4,826,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CSCO. Bank of New York Mellon Corp boosted its position in Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after acquiring an additional 1,853,598 shares during the period. Legal & General Group Plc lifted its position in shares of Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after buying an additional 1,530,468 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after acquiring an additional 4,843,146 shares during the last quarter. Swedbank AB bought a new stake in Cisco Systems during the 1st quarter worth about $840,538,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Cisco Systems by 26.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after acquiring an additional 2,906,357 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Trading Down 0.8 %

Shares of Cisco Systems stock opened at $57.47 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $59.38. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company’s 50-day simple moving average is $53.82 and its 200-day simple moving average is $49.64. The firm has a market cap of $229.35 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. Cisco Systems’s dividend payout ratio is currently 68.67%.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This trade represents a 5.75 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 22,309 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the transaction, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. This trade represents a 7.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,924 shares of company stock worth $1,798,131. 0.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Thursday, August 15th. Jefferies Financial Group cut their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Tigress Financial lifted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Bank of America increased their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $59.42.

Cisco Systems 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.