Cisco Systems (NASDAQ:CSCO) Insider Jeetendra Patel Sells 11,248 Shares

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report) insider Jeetendra Patel sold 11,248 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the completion of the sale, the insider owned 262,776 shares in the company, valued at $19,970,976. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cisco Systems Stock Performance

Cisco Systems stock opened at $76.85 on Wednesday. Cisco Systems, Inc. has a 52 week low of $52.11 and a 52 week high of $88.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The firm has a market capitalization of $303.64 billion, a price-to-earnings ratio of 26.97, a P/E/G ratio of 2.86 and a beta of 0.87. The company has a 50 day moving average price of $77.74 and a 200 day moving average price of $73.27.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. Research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be given a $0.42 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 2.2%. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 57.54%.

Hedge Funds Weigh In On Cisco Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Intesa Sanpaolo Wealth Management acquired a new stake in Cisco Systems during the 4th quarter worth approximately $25,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $25,000. Bare Financial Services Inc boosted its position in shares of Cisco Systems by 531.0% in the second quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock valued at $25,000 after acquiring an additional 308 shares during the period. Marquette Asset Management LLC acquired a new position in shares of Cisco Systems in the third quarter valued at about $25,000. Finally, Jessup Wealth Management Inc bought a new position in Cisco Systems during the fourth quarter worth about $29,000. Institutional investors own 73.33% of the company’s stock.

Key Cisco Systems News

Here are the key news stories impacting Cisco Systems this week:

Analyst Ratings Changes

CSCO has been the topic of a number of analyst reports. Barclays upped their target price on shares of Cisco Systems from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, November 13th. Zacks Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. lifted their target price on Cisco Systems from $90.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, February 9th. President Capital cut their price objective on shares of Cisco Systems from $90.00 to $88.00 in a report on Wednesday, December 24th. Finally, Erste Group Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.55.

Read Our Latest Analysis on Cisco Systems

About Cisco Systems

(Get Free Report)

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

Further Reading

Insider Buying and Selling by Quarter for Cisco Systems (NASDAQ:CSCO)

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