Cisco Systems, Inc. (NASDAQ:CSCO) EVP Sells $1,211,596.10 in Stock

by · The Markets Daily

Cisco Systems, Inc. (NASDAQ:CSCO – Get Free Report) EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at $12,203,506.38. This represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cisco Systems Trading Up 0.1 %

NASDAQ:CSCO traded up $0.09 during mid-day trading on Thursday, reaching $57.59. 11,060,834 shares of the company’s stock traded hands, compared to its average volume of 19,127,938. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38. The firm has a market capitalization of $229.81 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 4.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a 50 day moving average price of $54.84 and a 200-day moving average price of $50.05.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share 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 firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the prior year, the business earned $0.98 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s payout ratio is currently 68.67%.

Analyst Ratings Changes

A number of analysts have commented on the company. Rosenblatt Securities boosted their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Barclays raised their target price on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and raised their target price for the stock from $46.00 to $58.00 in a research report on Friday, August 16th. Ten analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given 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 an average target price of $59.94.

Get Our Latest Stock Analysis on Cisco Systems

Institutional Trading of Cisco Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tudor Financial Inc. bought a new position in Cisco Systems in the 3rd quarter valued at approximately $1,097,000. SkyView Investment Advisors LLC lifted its position in Cisco Systems by 4.5% in the 3rd quarter. SkyView Investment Advisors LLC now owns 10,188 shares of the network equipment provider’s stock valued at $542,000 after acquiring an additional 440 shares in the last quarter. Morse Asset Management Inc bought a new position in Cisco Systems in the 3rd quarter valued at approximately $798,000. Advisory Resource Group lifted its position in Cisco Systems by 1.9% in the 3rd quarter. Advisory Resource Group now owns 97,718 shares of the network equipment provider’s stock valued at $5,201,000 after acquiring an additional 1,784 shares in the last quarter. Finally, Hohimer Wealth Management LLC lifted its position in Cisco Systems by 24.7% in the 3rd quarter. Hohimer Wealth Management LLC now owns 104,481 shares of the network equipment provider’s stock valued at $5,560,000 after acquiring an additional 20,679 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Company Profile

(Get Free Report)

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.

See Also