B. Riley Wealth Management Inc. Has $3.09 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

B. Riley Wealth Management Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 14.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,332 shares of the network equipment provider’s stock after selling 9,562 shares during the period. B. Riley Wealth Management Inc.’s holdings in Cisco Systems were worth $3,085,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Cordant Inc. bought a new stake in shares of Cisco Systems in the 1st quarter valued at approximately $28,000. Advanced Research Investment Solutions LLC grew its position in Cisco Systems by 564.6% during the 1st quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock worth $30,000 after acquiring an additional 463 shares during the last quarter. Evolution Advisers Inc. bought a new stake in Cisco Systems during the 4th quarter worth approximately $33,000. Conrad Siegel Investment Advisors Inc. bought a new stake in Cisco Systems during the 1st quarter worth approximately $33,000. Finally, CarsonAllaria Wealth Management Ltd. bought a new stake in Cisco Systems during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 73.18% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Oppenheimer decreased their price target on Cisco Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 19th. The Goldman Sachs Group increased their price target on Cisco Systems from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $51.00 price objective (down from $62.00) on shares of Cisco Systems in a research report on Thursday, July 14th. KGI Securities lowered Cisco Systems from an “outperform” rating to a “neutral” rating in a research report on Friday, July 15th. Finally, Cowen increased their price objective on Cisco Systems from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $55.59.

Cisco Systems Stock Performance

Shares of Cisco Systems stock opened at $49.37 on Friday. The company has a market capitalization of $204.44 billion, a PE ratio of 17.51, a PEG ratio of 2.30 and a beta of 0.97. Cisco Systems, Inc. has a 12 month low of $40.82 and a 12 month high of $64.29. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. The stock’s fifty day simple moving average is $44.18 and its 200 day simple moving average is $49.34.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. The business had revenue of $13.10 billion for the quarter, compared to the consensus estimate of $12.78 billion. Cisco Systems had a return on equity of 30.91% and a net margin of 22.91%. The firm’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 EPS. On average, research analysts predict that Cisco Systems, Inc. will post 3.12 EPS for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Tuesday, July 5th. Cisco Systems’s dividend payout ratio is 53.90%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Prat Bhatt sold 3,700 shares of Cisco Systems stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $43.34, for a total value of $160,358.00. Following the sale, the senior vice president now owns 80,784 shares of the company’s stock, valued at approximately $3,501,178.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Charles Robbins sold 12,717 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the completion of the transaction, the chief executive officer now owns 651,577 shares in the company, valued at approximately $28,532,556.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Prat Bhatt sold 3,700 shares of the firm’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $43.34, for a total value of $160,358.00. Following the completion of the transaction, the senior vice president now owns 80,784 shares of the company’s stock, valued at approximately $3,501,178.56. The disclosure for this sale can be found here. Insiders have sold 25,326 shares of company stock valued at $1,103,159 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

About Cisco Systems

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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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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