Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) EVP Deborah L. Stahlkopf sold 11,808 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the completion of the sale, the executive vice president now owns 200,191 shares of the company's stock, valued at approximately $12,886,294.67. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Cisco Systems Stock Down 1.2 %
CSCO stock opened at $63.24 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The company's 50 day moving average is $60.75 and its 200 day moving average is $56.42. The stock has a market cap of $251.59 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 4.16 and a beta of 0.84. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.
Cisco Systems Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date is Thursday, April 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 69.87%.
Cisco Systems announced that its board has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board believes its stock is undervalued.
Institutional Trading of Cisco Systems
A number of institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider's stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider's stock valued at $5,075,320,000 after purchasing an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider's stock valued at $4,402,239,000 after purchasing an additional 1,677,383 shares during the period. FMR LLC boosted its stake in shares of Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares during the period. Finally, Norges Bank purchased a new stake in shares of Cisco Systems during the fourth quarter valued at approximately $3,297,905,000. Hedge funds and other institutional investors own 73.33% of the company's stock.
Analyst Ratings Changes
Several analysts have recently issued reports on CSCO shares. Bank of America upped their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. The Goldman Sachs Group boosted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Citigroup upped their price objective on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, February 13th. StockNews.com downgraded shares of Cisco Systems from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.53.
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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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