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

Advisors Asset Management Inc. lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 1.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 748,852 shares of the network equipment provider's stock after selling 10,952 shares during the quarter. Cisco Systems accounts for 0.7% of Advisors Asset Management Inc.'s holdings, making the stock its 13th biggest position. Advisors Asset Management Inc.'s holdings in Cisco Systems were worth $39,854,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the second quarter valued at about $25,000. West Financial Advisors LLC lifted its stake in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Quarry LP lifted its position in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after buying an additional 456 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems during the 2nd quarter worth approximately $36,000. Finally, Iron Horse Wealth Management LLC raised its position in Cisco Systems by 617.7% in the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock valued at $42,000 after purchasing an additional 766 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $0.49 during trading on Wednesday, reaching $57.50. 15,287,236 shares of the company's stock were exchanged, compared to its average volume of 19,140,963. The company has a market cap of $229.47 billion, a P/E ratio of 24.47, a PEG ratio of 4.67 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm's 50-day moving average price is $54.52 and its 200 day moving average price is $49.95.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter in the previous year, the company posted $0.98 EPS. The business's revenue was down 5.6% on a year-over-year basis. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Cisco Systems's payout ratio is 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 6.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 321,628 shares of company stock worth $18,449,561 in the last 90 days. Corporate insiders own 0.01% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Tigress Financial upped their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research report on Monday, October 14th. Evercore ISI raised their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Friday, September 20th. HSBC upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their price target for the company from $46.00 to $58.00 in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a research note on Thursday, August 15th. Finally, StockNews.com upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has an average rating of "Moderate Buy" and an average 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.