Sheaff Brock Investment Advisors LLC Sells 92,119 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sheaff Brock Investment Advisors LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 50.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the second quarter worth $25,000. West Financial Advisors LLC lifted its stake in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 309 shares in the last quarter. Quarry LP raised its holdings in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems in the second quarter worth $36,000. Finally, Iron Horse Wealth Management LLC grew its position in 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 valued at $42,000 after purchasing an additional 766 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, August 15th. Evercore ISI raised their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Barclays lifted their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the company an "equal weight" rating in a research report on Thursday. Rosenblatt Securities raised their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a "neutral" rating in a research report on Thursday, August 15th. Finally, Piper Sandler increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday. Eleven research 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.42.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded down $0.46 during trading on Friday, reaching $57.46. 28,166,824 shares of the company's stock were exchanged, compared to its average volume of 19,144,939. The firm's 50-day moving average price is $54.00 and its 200 day moving average price is $49.69. The company has a market cap of $229.31 billion, a P/E ratio of 24.82, a PEG ratio of 4.90 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. The firm's quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company posted $1.01 EPS. 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 company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is 68.67%.

Insider Buying and Selling

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the firm's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the business's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This represents a 1.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,924 shares of company stock worth $1,798,131 in the last 90 days. Insiders own 0.01% of the company's stock.

Cisco Systems Company 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.