Investors Sell Shares of Cisco Systems Inc. (CSCO) on Strength (CSCO)
Traders sold shares of Cisco Systems Inc. (NASDAQ:CSCO) on strength during trading hours on Monday. $79.96 million flowed into the stock on the tick-up and $127.10 million flowed out of the stock on the tick-down, for a money net flow of $47.14 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 $0.17 for the day and closed at $29.43
CSCO has been the subject of a number of recent research reports. Deutsche Bank AG reiterated a “buy” rating and issued a $33.00 target price on shares of Cisco Systems in a report on Monday, April 11th. Oppenheimer Holdings Inc. initiated coverage on Cisco Systems in a report on Monday, April 11th. They issued a “buy” rating for the company. Citigroup Inc. reiterated a “buy” rating on shares of Cisco Systems in a report on Thursday, April 7th. Royal Bank Of Canada started coverage on Cisco Systems in a report on Wednesday, March 16th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Cisco Systems in a report on Tuesday, April 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $31.14.
The company has a market capitalization of $148.02 billion and a PE ratio of 14.57. The stock’s 50-day moving average price is $28.75 and its 200-day moving average price is $27.03.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 18th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. During the same quarter last year, the company posted $0.54 EPS. The company earned $12 billion during the quarter, compared to analyst estimates of $11.97 billion. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts anticipate that Cisco Systems Inc. will post $2.33 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Thursday, July 7th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, July 5th. This represents a $1.04 annualized dividend and a yield of 3.53%.
In related news, Chairman John T. Chambers sold 541,667 shares of the stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $28.95, for a total transaction of $15,681,259.65. Following the sale, the chairman now owns 1,967,156 shares in the company, valued at $56,949,166.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CMO Karen Walker sold 7,802 shares of the stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $28.50, for a total transaction of $222,357.00. Following the sale, the chief marketing officer now owns 175,250 shares in the company, valued at approximately $4,994,625. The disclosure for this sale can be found here.
Other large investors have added to or reduced their stakes in the company. Toth Financial raised its stake in Cisco Systems by 2.7% in the fourth quarter. Toth Financial now owns 261,977 shares of the network equipment provider’s stock valued at $7,114,000 after buying an additional 6,869 shares during the period. Timber Creek Capital Management LLC raised its stake in Cisco Systems by 0.7% in the fourth quarter. Timber Creek Capital Management LLC now owns 115,869 shares of the network equipment provider’s stock valued at $3,146,000 after buying an additional 750 shares during the period. Hutchens Investment Management Inc acquired a new stake in Cisco Systems during the fourth quarter valued at $1,819,000. Dumont & Blake Investment Advisors LLC raised its stake in Cisco Systems by 5.8% in the fourth quarter. Dumont & Blake Investment Advisors LLC now owns 63,725 shares of the network equipment provider’s stock valued at $1,730,000 after buying an additional 3,490 shares during the period. Finally, Rand Wealth LLC raised its stake in Cisco Systems by 28.2% in the fourth quarter. Rand Wealth LLC now owns 206,902 shares of the network equipment provider’s stock valued at $5,618,000 after buying an additional 45,533 shares during the period.
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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