Thimaya K. Subaiya Sells 2,065 Shares of Cisco Systems, Inc. (NASDAQ:CSCO) Stock

by · The Markets Daily

Cisco Systems, Inc. (NASDAQ:CSCO – Get Free Report) EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the sale, the executive vice president now owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cisco Systems Stock Down 1.3 %

Cisco Systems stock opened at $59.67 on Friday. The firm has a market capitalization of $237.38 billion, a P/E ratio of 26.06, a P/E/G ratio of 4.16 and a beta of 0.79. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock’s fifty day simple moving average is $61.75 and its 200-day simple moving average is $57.63.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be issued a $0.41 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, April 3rd. Cisco Systems’s dividend payout ratio is presently 71.62%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. Bank of America upped their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Rosenblatt Securities upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $66.00 to $80.00 in a report on Thursday, February 13th. StockNews.com lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. Morgan Stanley increased their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Finally, JPMorgan Chase & Co. lifted their target price on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Read Our Latest Analysis on CSCO

Institutional Investors Weigh In On Cisco Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Mainstream Capital Management LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth approximately $132,000. Morse Asset Management Inc purchased a new position in Cisco Systems in the 3rd quarter valued at $798,000. HighVista Strategies LLC acquired a new position in Cisco Systems in the 3rd quarter valued at $1,698,000. GAMMA Investing LLC raised its position in Cisco Systems by 13.1% during the 4th quarter. GAMMA Investing LLC now owns 93,357 shares of the network equipment provider’s stock worth $5,527,000 after buying an additional 10,813 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Cisco Systems in the 3rd quarter worth $502,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

About Cisco Systems

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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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