Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the sale, the executive vice president now directly owns 213,834 shares in the company, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Cisco Systems Price Performance
CSCO stock traded up $0.68 during trading on Friday, hitting $58.24. The stock had a trading volume of 2,751,891 shares, compared to its average volume of 19,055,900. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $59.38. The company's 50 day moving average price is $54.84 and its two-hundred day moving average price is $50.05. The stock has a market cap of $232.42 billion, a price-to-earnings ratio of 24.71, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88.
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Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same quarter last year, the firm posted $0.98 earnings per share. Cisco Systems's revenue for the quarter was down 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.
Cisco Systems Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.75%. The ex-dividend date is Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 68.67%.
Institutional Trading of Cisco Systems
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the second quarter worth $25,000. Quarry LP raised its stake in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 456 shares during the period. West Financial Advisors LLC lifted its holdings in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems during the second quarter valued at approximately $36,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $40,000. Institutional investors own 73.33% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on CSCO. New Street Research upgraded Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 target price for the company in a report on Thursday, August 15th. StockNews.com raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Piper Sandler lifted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Jefferies Financial Group reduced their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised Cisco Systems from a "neutral" rating to an "overweight" rating and increased their target price for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $59.94.
Read Our Latest Research Report on Cisco Systems
Cisco Systems Company Profile
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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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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