Investors sold shares of Cisco Systems Inc. (NASDAQ:CSCO) on strength during trading hours on Wednesday. $61.89 million flowed into the stock on the tick-up and $127.48 million flowed out of the stock on the tick-down, for a money net flow of $65.59 million out of the stock. Of all stocks tracked, Cisco Systems had the 0th highest net out-flow for the day. Cisco Systems traded up $0.14 for the day and closed at $29.75

Several analysts have issued reports on the company. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $30.00 price objective on shares of Cisco Systems in a report on Monday, May 2nd. Sanford C. Bernstein reiterated a “buy” rating on shares of Cisco Systems in a report on Sunday, May 22nd. Credit Suisse Group AG reiterated a “sell” rating and issued a $24.00 target price (up previously from $22.00) on shares of Cisco Systems in a report on Saturday, May 14th. They noted that the move was a valuation call. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $28.75 target price on the stock. in a report on Monday, May 23rd. Finally, Drexel Hamilton reiterated a “buy” rating and issued a $36.00 target price (up previously from $34.00) on shares of Cisco Systems in a report on Saturday, May 14th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $31.14.

The company has a 50 day moving average price of $28.84 and a 200-day moving average price of $27.07. The firm has a market cap of $149.63 billion and a P/E ratio of 14.73.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.55 by $0.02. During the same period last year, the company earned $0.54 earnings per share. The company earned $12 billion during the quarter, compared to analysts’ expectations of $11.97 billion. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts forecast that Cisco Systems Inc. will post $2.33 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders of record on Thursday, July 7th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Tuesday, July 5th.

In related news, EVP Pankaj Patel sold 4,133 shares of the stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $29.02, for a total transaction of $119,939.66. Following the completion of the sale, the executive vice president now directly owns 359,174 shares of the company’s stock, valued at $10,423,229.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman John T. Chambers sold 541,667 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $28.95, for a total value of $15,681,259.65. Following the sale, the chairman now directly owns 1,967,156 shares of the company’s stock, valued at $56,949,166.20. The disclosure for this sale can be found here.

Several hedge funds have modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Cisco Systems by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 301,463,407 shares of the network equipment provider’s stock worth $8,186,239,000 after buying an additional 6,597,497 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cisco Systems by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 32,258,594 shares of the network equipment provider’s stock worth $876,088,000 after buying an additional 1,121,239 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Cisco Systems by 62.0% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 11,395,016 shares of the network equipment provider’s stock worth $309,432,000 after buying an additional 4,360,972 shares during the last quarter. California State Teachers Retirement System increased its stake in shares of Cisco Systems by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 9,724,758 shares of the network equipment provider’s stock worth $264,076,000 after buying an additional 153,831 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Cisco Systems by 1.9% in the fourth quarter. Swiss National Bank now owns 9,243,893 shares of the network equipment provider’s stock worth $251,018,000 after buying an additional 168,100 shares during the last quarter.

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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