Traders Sell Cisco Systems, Inc. (CSCO) on Strength Following Insider Selling
Investors sold shares of Cisco Systems, Inc. (NASDAQ:CSCO) on strength during trading on Wednesday following insider selling activity. $90.52 million flowed into the stock on the tick-up and $127.17 million flowed out of the stock on the tick-down, for a money net flow of $36.65 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 $0.11 for the day and closed at $32.60Specifically, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the transaction, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at $3,847,071.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction on 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 transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock valued at $15,347,574 in the last three months. Insiders own 0.11% of the company’s stock.
CSCO has been the subject of several recent research reports. Instinet reissued a “neutral” rating and set a $29.00 price objective on shares of Cisco Systems in a research report on Monday, July 3rd. J P Morgan Chase & Co reissued a “neutral” rating on shares of Cisco Systems in a research report on Monday, June 26th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $33.39 price objective for the company in a research report on Monday, July 17th. Stifel Nicolaus set a $34.00 price objective on Cisco Systems and gave the company a “hold” rating in a research report on Tuesday, August 15th. Finally, JMP Securities reissued a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $35.57.
The firm has a market cap of $161.93 billion, a P/E ratio of 17.21 and a beta of 1.19. The company has a 50-day moving average price of $31.72 and a 200-day moving average price of $32.41.
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, hitting the Zacks’ consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business’s revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. Equities analysts anticipate that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is presently 60.73%.
Several large investors have recently modified their holdings of the company. Bogart Wealth LLC boosted its stake in shares of Cisco Systems by 44.2% in the second quarter. Bogart Wealth LLC now owns 44,452 shares of the network equipment provider’s stock worth $1,391,000 after acquiring an additional 13,621 shares during the last quarter. MPS Loria Financial Planners LLC acquired a new stake in shares of Cisco Systems in the second quarter worth approximately $646,000. Frontier Investment Mgmt Co. boosted its stake in shares of Cisco Systems by 1.2% in the second quarter. Frontier Investment Mgmt Co. now owns 377,432 shares of the network equipment provider’s stock worth $11,814,000 after acquiring an additional 4,341 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Cisco Systems by 3.7% in the second quarter. Perigon Wealth Management LLC now owns 179,705 shares of the network equipment provider’s stock worth $5,625,000 after acquiring an additional 6,394 shares during the last quarter. Finally, W. E. Donoghue & Co. LLC acquired a new stake in shares of Cisco Systems in the second quarter worth approximately $16,034,000. 75.37% of the stock is currently owned by hedge funds and other institutional investors.
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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).
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