Cisco Systems (NASDAQ:CSCO) CEO Sells $1,485,420.00 in Stock

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report) CEO Charles Robbins sold 19,545 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the completion of the transaction, the chief executive officer directly owned 671,095 shares of the company’s stock, valued at approximately $51,003,220. This represents a 2.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Cisco Systems Price Performance

CSCO stock remained flat at $76.85 during midday trading on Tuesday. The company’s stock had a trading volume of 24,780,024 shares, compared to its average volume of 24,402,709. The stock has a market cap of $303.64 billion, a PE ratio of 26.97, a price-to-earnings-growth ratio of 2.86 and a beta of 0.87. The company has a current ratio of 0.96, a quick ratio of 0.85 and a debt-to-equity ratio of 0.45. The company’s 50-day moving average is $77.79 and its 200-day moving average is $73.20. Cisco Systems, Inc. has a twelve month low of $52.11 and a twelve month high of $88.18.

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

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be issued a $0.42 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.2%. Cisco Systems’s payout ratio is presently 57.54%.

Wall Street Analyst Weigh In

CSCO has been the topic of several research reports. JPMorgan Chase & Co. boosted 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. Wall Street Zen cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. UBS Group increased their target price on shares of Cisco Systems from $90.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, February 12th. Bank of America lifted their target price on shares of Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Barclays upped their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $89.55.

Read Our Latest Analysis on CSCO

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bare Financial Services Inc increased its stake in 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 last quarter. Marquette Asset Management LLC bought a new position in shares of Cisco Systems during the 3rd quarter valued at about $25,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Cisco Systems during the 4th quarter valued at about $25,000. Intesa Sanpaolo Wealth Management bought a new stake in Cisco Systems in the 4th quarter worth approximately $25,000. Finally, Legacy Investment Solutions LLC purchased a new stake in Cisco Systems in the second quarter worth approximately $28,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Key Headlines Impacting Cisco Systems

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

About Cisco Systems

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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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