Janney Montgomery Scott LLC Sells 616,051 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Janney Montgomery Scott LLC decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 25.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,788,249 shares of the network equipment provider’s stock after selling 616,051 shares during the period. Janney Montgomery Scott LLC’s holdings in Cisco Systems were worth $95,171,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of CSCO. China Universal Asset Management Co. Ltd. grew its holdings in Cisco Systems by 226.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after buying an additional 18,339 shares in the last quarter. Magnolia Capital Advisors LLC grew its stake in shares of Cisco Systems by 14.5% in the first quarter. Magnolia Capital Advisors LLC now owns 30,429 shares of the network equipment provider’s stock valued at $1,470,000 after acquiring an additional 3,861 shares in the last quarter. FORA Capital LLC bought a new position in Cisco Systems during the first quarter worth about $20,471,000. Summit Financial Wealth Advisors LLC raised its stake in Cisco Systems by 603.5% in the 1st quarter. Summit Financial Wealth Advisors LLC now owns 168,231 shares of the network equipment provider’s stock worth $8,396,000 after purchasing an additional 144,318 shares in the last quarter. Finally, Farrow Financial Inc. boosted its holdings in Cisco Systems by 6.0% in the 1st quarter. Farrow Financial Inc. now owns 39,353 shares of the network equipment provider’s stock valued at $1,964,000 after purchasing an additional 2,218 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. Tigress Financial lifted their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. Evercore ISI boosted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Piper Sandler reiterated a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of “Moderate Buy” and an average target price of $56.74.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s 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 sale, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at $6,501,957.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 70,529 shares of company stock valued at $3,509,049 in the last three months. Insiders own 0.01% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $55.50 on Friday. The stock’s 50-day moving average is $52.63 and its 200-day moving average is $49.09. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The stock has a market cap of $221.49 billion, a P/E ratio of 21.85, a price-to-earnings-growth ratio of 4.61 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the firm posted $1.01 EPS. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. Cisco Systems’s payout ratio is 62.99%.

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.