Cisco Systems, Inc. (NASDAQ:CSCO) Director Sells $43,044.12 in Stock
Cisco Systems, Inc. (NASDAQ:CSCO – Get Free Report) Director Mark Garrett sold 899 shares of the firm’s stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $47.88, for a total value of $43,044.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Cisco Systems Stock Performance
Shares of NASDAQ:CSCO traded up $0.33 during trading on Thursday, hitting $48.38. The company’s stock had a trading volume of 37,156,638 shares, compared to its average volume of 18,483,988. The company has a 50-day moving average of $52.08 and a 200-day moving average of $52.37. Cisco Systems, Inc. has a 12 month low of $45.56 and a 12 month high of $58.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.47 and a quick ratio of 1.34. The firm has a market cap of $196.59 billion, a price-to-earnings ratio of 14.52, a P/E/G ratio of 2.16 and a beta of 0.98.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.20. Cisco Systems had a net margin of 23.40% and a return on equity of 34.41%. The firm had revenue of $14.67 billion for the quarter, compared to analysts’ expectations of $14.63 billion. During the same quarter in the prior year, the business earned $0.77 EPS. The business’s quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts expect that Cisco Systems, Inc. will post 3.57 earnings per share for the current year.
Cisco Systems Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Shareholders of record on Thursday, January 4th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend is Wednesday, January 3rd. Cisco Systems’s payout ratio is 47.13%.
Institutional Investors Weigh In On Cisco Systems
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kathleen S. Wright Associates Inc. purchased a new stake in Cisco Systems during the 3rd quarter valued at approximately $27,000. Altshuler Shaham Ltd purchased a new position in shares of Cisco Systems in the first quarter valued at $32,000. Tucker Asset Management LLC purchased a new position in Cisco Systems during the first quarter worth $35,000. Fortis Capital Advisors LLC purchased a new position in Cisco Systems during the fourth quarter worth $34,000. Finally, Nordwand Advisors LLC bought a new stake in shares of Cisco Systems during the first quarter worth $40,000. Institutional investors own 72.21% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the company. Piper Sandler reduced their price target on Cisco Systems from $57.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, November 16th. Raymond James downgraded Cisco Systems from a “market perform” rating to an “underperform” rating in a research report on Monday, October 30th. StockNews.com started coverage on Cisco Systems in a report on Thursday, October 5th. They set a “buy” rating for the company. Jefferies Financial Group boosted their price objective on Cisco Systems from $54.00 to $59.50 and gave the stock a “buy” rating in a report on Thursday, August 17th. Finally, UBS Group cut their price target on Cisco Systems from $55.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, November 16th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $58.38.
Check Out Our Latest Stock Report on CSCO
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.
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Original: MarketBeat News Feed: Cisco Systems, Inc. (NASDAQ:CSCO) Director Sells $43,044.12 in Stock