BB&T Securities LLC lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 27.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,693,851 shares of the network equipment provider’s stock after selling 650,305 shares during the period. Cisco Systems comprises approximately 0.8% of BB&T Securities LLC’s investment portfolio, making the stock its 18th biggest holding. BB&T Securities LLC’s holdings in Cisco Systems were worth $53,017,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CSCO. Barnett & Company Inc. raised its stake in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC raised its stake in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares in the last quarter. Grove Bank & Trust raised its stake in Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after buying an additional 2,120 shares in the last quarter. Watermark Asset Management Inc. bought a new position in Cisco Systems in the first quarter worth approximately $122,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock worth $145,000 after buying an additional 560 shares in the last quarter. 75.22% of the stock is owned by hedge funds and other institutional investors.

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) opened at $35.90 on Friday. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $36.67. The stock has a market cap of $177,670.00, a PE ratio of 15.69, a P/E/G ratio of 2.98 and a beta of 1.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.98 and a current ratio of 3.03.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the prior year, the company earned $0.61 EPS. Cisco Systems’s revenue was down 1.7% compared to the same quarter last year. equities analysts expect that Cisco Systems, Inc. will post 2.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were paid a $0.29 dividend. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.23%. Cisco Systems’s dividend payout ratio (DPR) is 60.10%.

A number of brokerages recently commented on CSCO. Stifel Nicolaus set a $34.00 price objective on shares of Cisco Systems and gave the stock a “hold” rating in a research note on Tuesday, August 15th. JMP Securities reissued a “market perform” rating on shares of Cisco Systems in a research note on Friday, August 18th. Nomura lifted their price target on shares of Cisco Systems from $29.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday. Argus lifted their price target on shares of Cisco Systems from $41.00 to $44.00 and gave the stock a “buy” rating in a report on Friday. Finally, Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $35.78 price target on the stock. in a report on Friday. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $36.67.

In other news, CAO Prat Bhatt sold 25,638 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the sale, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Karen Walker sold 23,110 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $740,906.60. Following the completion of the sale, the senior vice president now directly owns 192,774 shares of the company’s stock, valued at approximately $6,180,334.44. The disclosure for this sale can be found here. In the last three months, insiders sold 485,138 shares of company stock valued at $15,347,574. Corporate insiders own 0.05% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Cisco Systems, Inc. (CSCO) Shares Sold by BB&T Securities LLC” was originally posted by Daily Political and is owned by of Daily Political. If you are viewing this article on another publication, it was illegally stolen and republished in violation of United States and international copyright and trademark legislation. The correct version of this article can be read at https://www.dailypolitical.com/2017/11/18/cisco-systems-inc-csco-shares-sold-by-bbt-securities-llc.html.

Cisco Systems Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.