RIA Advisory Group LLC Acquires New Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

RIA Advisory Group LLC purchased a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 15,691 shares of the network equipment provider’s stock, valued at approximately $835,000.

A number of other large investors have also recently added to or reduced their stakes in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Cisco Systems by 59.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after purchasing an additional 288,775 shares in the last quarter. Citizens Financial Group Inc. RI boosted its stake in Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock valued at $12,573,000 after buying an additional 51,924 shares in the last quarter. Commerzbank Aktiengesellschaft FI increased its position in shares of Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock worth $88,261,000 after purchasing an additional 162,544 shares in the last quarter. Quintet Private Bank Europe S.A. grew its position in Cisco Systems by 17.0% during the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider’s stock worth $33,830,000 after acquiring an additional 92,179 shares during the last quarter. Finally, IRON Financial LLC acquired a new stake in shares of Cisco Systems in the third quarter valued at $856,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $57.46 on Friday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.38. The firm has a market capitalization of $229.31 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83. The firm has a fifty day simple moving average of $54.18 and a two-hundred day simple moving average of $49.76. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

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

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the sale, the chief financial officer now owns 293,184 shares of the company’s stock, valued at approximately $14,659,200. The trade was a 7.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 1.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,924 shares of company stock valued at $1,798,131 over the last ninety days. Corporate insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Tigress Financial lifted their price target 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. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price target for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Citigroup increased their price target on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.