Cisco Systems (NASDAQ:CSCO) SVP Maria Victoria Wong Sells 2,179 Shares

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report) SVP Maria Victoria Wong sold 2,179 shares of the company’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total value of $169,395.46. Following the completion of the sale, the senior vice president owned 28,807 shares of the company’s stock, valued at approximately $2,239,456.18. The trade was a 7.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Maria Victoria Wong also recently made the following trade(s):

  • On Friday, February 13th, Maria Victoria Wong sold 51 shares of Cisco Systems stock. The shares were sold at an average price of $74.24, for a total transaction of $3,786.24.
  • On Thursday, December 11th, Maria Victoria Wong sold 428 shares of Cisco Systems stock. The shares were sold at an average price of $80.33, for a total transaction of $34,381.24.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $78.14 on Wednesday. The business’s 50-day simple moving average is $77.71 and its two-hundred day simple moving average is $73.58. The stock has a market cap of $308.64 billion, a PE ratio of 27.42, a P/E/G ratio of 2.94 and a beta of 0.87. Cisco Systems, Inc. has a 52 week low of $52.11 and a 52 week high of $88.18. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping 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 business had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same period in the prior year, the company posted $0.94 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 2.1%. Cisco Systems’s dividend payout ratio is 57.54%.

Hedge Funds Weigh In On Cisco Systems

Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Cisco Systems by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 398,943,293 shares of the network equipment provider’s stock valued at $30,730,602,000 after buying an additional 4,049,893 shares during the last quarter. State Street Corp boosted its holdings in Cisco Systems by 0.5% during the 4th quarter. State Street Corp now owns 195,521,161 shares of the network equipment provider’s stock valued at $15,060,995,000 after acquiring an additional 1,057,962 shares during the period. Geode Capital Management LLC boosted its holdings in Cisco Systems by 1.2% during the 2nd quarter. Geode Capital Management LLC now owns 99,252,395 shares of the network equipment provider’s stock valued at $6,864,058,000 after acquiring an additional 1,157,704 shares during the period. Morgan Stanley grew its position in Cisco Systems by 0.3% in the 4th quarter. Morgan Stanley now owns 75,326,258 shares of the network equipment provider’s stock valued at $5,802,382,000 after acquiring an additional 206,352 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Cisco Systems by 11.6% in the fourth quarter. Invesco Ltd. now owns 59,836,782 shares of the network equipment provider’s stock worth $4,609,227,000 after purchasing an additional 6,224,062 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citic Securities increased their price objective on shares of Cisco Systems from $75.00 to $90.00 in a report on Monday, November 17th. Erste Group Bank downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, February 18th. Barclays raised their price target on Cisco Systems from $71.00 to $76.00 and gave the company an “equal weight” rating in a report on Thursday, November 13th. Citigroup lifted their price objective on Cisco Systems from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, February 12th. Finally, President Capital decreased their price objective on Cisco Systems from $90.00 to $88.00 in a report on Wednesday, December 24th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $89.55.

Check Out Our Latest Stock Analysis on Cisco Systems

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Cisco Systems Company Profile

(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.

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