RIA Advisory Group LLC Sells 94,982 Shares of Cisco Systems, Inc. $CSCO

RIA Advisory Group LLC trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 93.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,409 shares of the network equipment provider’s stock after selling 94,982 shares during the quarter. RIA Advisory Group LLC’s holdings in Cisco Systems were worth $438,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Triumph Capital Management acquired a new stake in shares of Cisco Systems in the third quarter worth about $116,000. AIA Group Ltd increased its holdings in shares of Cisco Systems by 81.7% during the 3rd quarter. AIA Group Ltd now owns 254,654 shares of the network equipment provider’s stock valued at $17,423,000 after acquiring an additional 114,474 shares during the last quarter. Financial Symmetry Inc raised its stake in shares of Cisco Systems by 2.7% in the 3rd quarter. Financial Symmetry Inc now owns 11,081 shares of the network equipment provider’s stock valued at $758,000 after acquiring an additional 288 shares in the last quarter. Farmers National Bank raised its stake in shares of Cisco Systems by 20.8% in the 3rd quarter. Farmers National Bank now owns 90,426 shares of the network equipment provider’s stock valued at $6,187,000 after acquiring an additional 15,581 shares in the last quarter. Finally, Painted Porch Advisors LLC lifted its holdings in Cisco Systems by 9.9% in the 3rd quarter. Painted Porch Advisors LLC now owns 4,551 shares of the network equipment provider’s stock worth $311,000 after purchasing an additional 409 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael D. Capellas sold 10,850 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $77.13, for a total value of $836,860.50. Following the completion of the transaction, the director directly owned 146,368 shares in the company, valued at approximately $11,289,363.84. This represents a 6.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 19,545 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $1,485,420.00. Following the completion of the transaction, the chief executive officer directly owned 671,095 shares of the company’s stock, valued at approximately $51,003,220. This trade represents a 2.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 46,168 shares of company stock worth $3,527,445. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on CSCO. Wall Street Zen downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Rosenblatt Securities restated a “buy” rating and issued a $100.00 price objective on shares of Cisco Systems in a research note on Thursday, February 12th. Zacks Research raised shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. DZ Bank upgraded shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, February 13th. Finally, Erste Group Bank downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $89.55.

Read Our Latest Research Report on Cisco Systems

Cisco Systems Stock Performance

NASDAQ CSCO opened at $77.60 on Thursday. The company’s fifty day moving average is $78.22 and its two-hundred day moving average is $74.70. Cisco Systems, Inc. has a 52-week low of $52.11 and a 52-week high of $88.18. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The firm has a market capitalization of $306.51 billion, a price-to-earnings ratio of 27.23, a P/E/G ratio of 3.00 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The business had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be issued a $0.42 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.68 annualized dividend and a yield of 2.2%. Cisco Systems’s payout ratio is currently 57.54%.

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About Cisco Systems

(Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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

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