Cisco Systems (NASDAQ:CSCO) Insider Sells 11,248 Shares

by · The Markets Daily

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report) insider Jeetendra Patel sold 11,248 shares of the stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $854,848.00. Following the transaction, the insider directly owned 262,776 shares of the company’s stock, valued at approximately $19,970,976. This trade represents a 4.10% 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 Cisco Systems stock remained flat at $76.85 during trading on Tuesday. The company had a trading volume of 24,780,024 shares, compared to its average volume of 24,402,709. The business’s 50-day simple moving average is $77.79 and its 200 day simple moving average is $73.20. Cisco Systems, Inc. has a 12-month low of $52.11 and a 12-month high of $88.18. The firm has a market capitalization of $303.64 billion, a P/E ratio of 26.97, a P/E/G ratio of 2.86 and a beta of 0.87. 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 released its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. During the same quarter last year, the company earned $0.94 earnings per share. Cisco Systems’s quarterly revenue was up 9.7% compared to the same quarter last year. Research analysts predict 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. Shareholders of record on Thursday, April 2nd will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, April 2nd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a yield of 2.2%. Cisco Systems’s dividend payout ratio (DPR) is currently 57.54%.

Cisco Systems News Summary

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

Institutional Trading of Cisco Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Cisco Systems during the fourth quarter worth about $4,473,272,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Cisco Systems by 413.3% during the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 22,393,371 shares of the network equipment provider’s stock worth $1,553,645,000 after purchasing an additional 18,030,441 shares during the period. Price T Rowe Associates Inc. MD increased its position in Cisco Systems by 103.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,289,151 shares of the network equipment provider’s stock worth $2,256,144,000 after purchasing an additional 14,874,407 shares in the last quarter. Franklin Resources Inc. raised its holdings in Cisco Systems by 46.2% in the second quarter. Franklin Resources Inc. now owns 40,836,858 shares of the network equipment provider’s stock valued at $2,833,261,000 after buying an additional 12,904,969 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in Cisco Systems by 110.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 18,406,442 shares of the network equipment provider’s stock valued at $1,259,369,000 after buying an additional 9,648,265 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSCO has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cisco Systems in a research note on Tuesday, January 27th. BNP Paribas Exane lifted their price objective on Cisco Systems from $86.00 to $87.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Wall Street Zen downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Saturday, November 22nd. KeyCorp raised their price target on shares of Cisco Systems from $77.00 to $87.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Finally, Piper Sandler boosted their price objective on shares of Cisco Systems from $70.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, November 13th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average target price of $89.55.

Read Our Latest Stock Report on CSCO

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.

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