Reilly Financial Advisors LLC Sells 6,147 Shares of Cisco Systems, Inc. (CSCO)

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Reilly Financial Advisors LLC lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 10.6% during the second quarter, HoldingsChannel.com reports. The firm owned 51,758 shares of the network equipment provider’s stock after selling 6,147 shares during the quarter. Reilly Financial Advisors LLC’s holdings in Cisco Systems were worth $2,227,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Certified Advisory Corp purchased a new stake in Cisco Systems in the fourth quarter worth about $116,000. Trustcore Financial Services LLC grew its holdings in Cisco Systems by 143.5% in the first quarter. Trustcore Financial Services LLC now owns 3,294 shares of the network equipment provider’s stock worth $141,000 after purchasing an additional 1,941 shares during the period. Smart Portfolios LLC purchased a new stake in Cisco Systems in the first quarter worth about $146,000. Stelac Advisory Services LLC purchased a new stake in Cisco Systems in the first quarter worth about $149,000. Finally, Wagner Wealth Management LLC purchased a new stake in Cisco Systems in the fourth quarter worth about $157,000. Institutional investors and hedge funds own 71.65% of the company’s stock.

A number of equities research analysts have weighed in on CSCO shares. BidaskClub cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 19th. Zacks Investment Research cut shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cisco Systems in a research note on Monday, June 11th. Piper Jaffray Companies set a $50.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Monday, July 9th. Finally, Morgan Stanley dropped their target price on shares of Cisco Systems from $50.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, July 19th. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and an average price target of $47.76.

In related news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $3,304,000.00. Following the transaction, the chief financial officer now owns 720,930 shares in the company, valued at $34,027,896. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Irving Tan sold 68,308 shares of the stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $47.38, for a total transaction of $3,236,433.04. Following the transaction, the senior vice president now owns 150,763 shares in the company, valued at approximately $7,143,150.94. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 205,150 shares of company stock worth $9,557,825. 0.05% of the stock is owned by insiders.

Shares of Cisco Systems stock opened at $47.40 on Friday. The company has a market cap of $225.89 billion, a P/E ratio of 19.70, a P/E/G ratio of 2.79 and a beta of 1.06. Cisco Systems, Inc. has a twelve month low of $32.12 and a twelve month high of $48.06. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.22 and a current ratio of 2.29.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.01. The company had revenue of $12.84 billion for the quarter, compared to the consensus estimate of $12.76 billion. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The firm’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 earnings per share. research analysts anticipate that Cisco Systems, Inc. will post 2.65 earnings per share for the current fiscal year.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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

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