Traders Sell Cisco Systems, Inc. (CSCO) on Strength (CSCO)
Traders sold shares of Cisco Systems, Inc. (NASDAQ:CSCO) on strength during trading on Friday. $61.56 million flowed into the stock on the tick-up and $126.13 million flowed out of the stock on the tick-down, for a money net flow of $64.57 million out of the stock. Of all companies tracked, Cisco Systems had the 0th highest net out-flow for the day. Cisco Systems traded up $0.21 for the day and closed at $33.47
Several equities analysts have recently weighed in on the company. Credit Suisse Group restated a “hold” rating and set a $35.00 price target on shares of Cisco Systems in a report on Friday, October 6th. Jefferies Group LLC restated a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a report on Friday, October 6th. KeyCorp set a $33.00 price target on Cisco Systems and gave the company a “buy” rating in a report on Wednesday. Piper Jaffray Companies restated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a report on Thursday. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a report on Monday, September 25th. Fifteen investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and an average price target of $35.30.
The company has a market cap of $165.74 billion, a PE ratio of 17.62 and a beta of 1.21. The company has a 50 day moving average price of $32.80 and a 200 day moving average price of $32.34.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 EPS. Analysts expect that Cisco Systems, Inc. will post $2.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.
In related news, CEO Charles Robbins sold 121,390 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $3,891,763.40. Following the transaction, the chief executive officer now owns 552,694 shares in the company, valued at approximately $17,719,369.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the transaction, the insider now owns 729,305 shares in the company, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Insiders sold a total of 485,138 shares of company stock worth $15,347,574 in the last 90 days. 0.11% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of CSCO. Vanguard Group Inc. boosted its holdings in 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 valued at $11,021,378,000 after purchasing an additional 7,411,891 shares in the last quarter. Nordea Investment Management AB boosted its holdings in Cisco Systems by 12.1% in the 2nd quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock valued at $982,703,000 after purchasing an additional 3,384,768 shares in the last quarter. Boston Partners boosted its holdings in Cisco Systems by 304.2% in the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after purchasing an additional 23,002,159 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Cisco Systems by 11.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock valued at $862,949,000 after purchasing an additional 2,863,474 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in Cisco Systems by 0.5% in the 2nd quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock valued at $859,293,000 after purchasing an additional 134,162 shares in the last quarter. Hedge funds and other institutional investors own 75.38% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: This piece of content was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.watchlistnews.com/traders-sell-cisco-systems-inc-csco-on-strength-csco/1632413.html.
About Cisco Systems
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).
Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.