Insider Selling: Cisco Systems, Inc. (NASDAQ:CSCO) SVP Sells 607 Shares of Stock
Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) SVP Prat Bhatt sold 607 shares of Cisco Systems stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $43.10, for a total transaction of $26,161.70. Following the transaction, the senior vice president now owns 79,855 shares in the company, valued at $3,441,750.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Prat Bhatt also recently made the following trade(s):
- On Monday, May 23rd, Prat Bhatt sold 3,700 shares of Cisco Systems stock. The stock was sold at an average price of $43.34, for a total transaction of $160,358.00.
Cisco Systems stock traded down $0.33 on Tuesday, reaching $42.91. 22,482,875 shares of the stock were exchanged, compared to its average volume of 23,209,461. The stock has a market cap of $177.69 billion, a PE ratio of 15.17, a PEG ratio of 2.23 and a beta of 0.99. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a twelve month low of $41.02 and a twelve month high of $64.29. The firm has a fifty day moving average price of $48.65 and a two-hundred day moving average price of $54.34.
Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. During the same quarter last year, the company earned $0.75 earnings per share. Equities analysts anticipate that Cisco Systems, Inc. will post 2.99 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Wednesday, July 6th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Tuesday, July 5th. Cisco Systems’s dividend payout ratio is currently 53.33%.
Cisco Systems declared that its Board of Directors has approved a share buyback plan on Wednesday, February 16th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.
Institutional investors and hedge funds have recently made changes to their positions in the company. Cordant Inc. acquired a new position in Cisco Systems in the first quarter worth about $28,000. Econ Financial Services Corp acquired a new position in Cisco Systems in the fourth quarter worth about $29,000. Ulland Investment Advisors LLC acquired a new position in Cisco Systems in the fourth quarter worth about $29,000. Advanced Research Investment Solutions LLC raised its position in Cisco Systems by 564.6% in the first quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock worth $30,000 after purchasing an additional 463 shares in the last quarter. Finally, Sandy Cove Advisors LLC acquired a new position in Cisco Systems in the fourth quarter worth about $33,000. 73.18% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on CSCO shares. Oppenheimer lowered their price objective on shares of Cisco Systems from $60.00 to $50.00 and set an “outperform” rating on the stock in a research report on Thursday, May 19th. Morgan Stanley lowered their price objective on shares of Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 19th. Wells Fargo & Company lowered their price target on shares of Cisco Systems from $65.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, May 19th. Cowen boosted their price target on shares of Cisco Systems from $61.00 to $66.00 in a report on Thursday, February 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Cisco Systems from $59.00 to $51.00 and set a “hold” rating on the stock in a report on Thursday, May 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $55.05.
Cisco Systems Company Profile (Get Rating)
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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