Investors Buy Cisco Systems (CSCO) on Weakness
Investors bought shares of Cisco Systems, Inc. (NASDAQ:CSCO) on weakness during trading on Thursday. $311.47 million flowed into the stock on the tick-up and $174.81 million flowed out of the stock on the tick-down, for a money net flow of $136.66 million into the stock. Of all stocks tracked, Cisco Systems had the 10th highest net in-flow for the day. Cisco Systems traded down ($1.24) for the day and closed at $43.07
CSCO has been the topic of several analyst reports. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $46.17 price target on the stock in a research note on Wednesday, March 7th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Wednesday, January 17th. Royal Bank of Canada lifted their price target on shares of Cisco Systems to $50.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. KeyCorp reaffirmed an “overweight” rating and set a $43.00 price target (up previously from $39.00) on shares of Cisco Systems in a research note on Friday, January 19th. Finally, ValuEngine raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $44.25.
The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.43. The stock has a market cap of $213,753.27, a price-to-earnings ratio of -134.53, a P/E/G ratio of 2.98 and a beta of 1.10.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 3.07%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date is Wednesday, April 4th. Cisco Systems’s payout ratio is presently -362.50%.
Cisco Systems declared that its board has initiated a share repurchase plan on Wednesday, February 14th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the network equipment provider to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other Cisco Systems news, EVP David Goeckeler sold 20,671 shares of the business’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $45.50, for a total transaction of $940,530.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director M Michele Burns sold 12,126 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $45.37, for a total transaction of $550,156.62. Following the transaction, the director now directly owns 74,479 shares of the company’s stock, valued at $3,379,112.23. The disclosure for this sale can be found here. Insiders have sold a total of 46,986 shares of company stock valued at $2,116,422 over the last three months. 0.05% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of CSCO. Vanguard Group Inc. lifted its stake in shares of Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after acquiring an additional 7,411,891 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Cisco Systems by 12.8% in the 4th quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock worth $4,709,302,000 after acquiring an additional 13,927,416 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Cisco Systems by 23.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after acquiring an additional 11,972,070 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cisco Systems by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 55,764,986 shares of the network equipment provider’s stock worth $2,131,581,000 after acquiring an additional 909,507 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Cisco Systems by 6.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock worth $1,639,089,000 after acquiring an additional 2,987,682 shares during the period. 77.53% of the stock is owned by hedge funds and other institutional investors.
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Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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