Cisco Systems, Inc. (NASDAQ:CSCO – Get Free Report) CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Cisco Systems Price Performance
Shares of CSCO stock traded down $0.30 on Tuesday, reaching $57.01. The company’s stock had a trading volume of 17,474,825 shares, compared to its average volume of 19,158,156. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The company has a market capitalization of $227.51 billion, a P/E ratio of 24.43, a PEG ratio of 4.67 and a beta of 0.83. The stock’s 50 day simple moving average is $54.35 and its 200-day simple moving average is $49.88.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter last year, the business posted $0.98 earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.
Cisco Systems Announces Dividend
Wall Street Analysts Forecast Growth
A number of brokerages have commented on CSCO. Barclays boosted their price objective on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Citigroup boosted their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Bank of America upped their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.94.
View Our Latest Report on CSCO
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. Summit Securities Group LLC bought a new stake in shares of Cisco Systems in the second quarter worth about $25,000. West Financial Advisors LLC grew its stake in shares of 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 purchasing an additional 309 shares during the last quarter. Quarry LP boosted its position in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC bought a new stake in Cisco Systems during the 3rd quarter valued at approximately $40,000. Finally, Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Cisco Systems Company Profile
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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