Traders Sell Cisco Systems Inc. (CSCO) on Strength (CSCO)
Investors sold shares of Cisco Systems Inc. (NASDAQ:CSCO) on strength during trading on Friday. $61.16 million flowed into the stock on the tick-up and $83.18 million flowed out of the stock on the tick-down, for a money net flow of $22.02 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 $0.24 for the day and closed at $31.04
Several research analysts recently weighed in on the stock. Jefferies Group restated a “buy” rating on shares of Cisco Systems in a research report on Thursday. RBC Capital Markets restated an “outperform” rating and set a $35.00 price target (up previously from $33.00) on shares of Cisco Systems in a research report on Thursday, July 28th. Royal Bank Of Canada upped their price target on shares of Cisco Systems from $33.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, July 28th. Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Morgan Stanley restated a “hold” rating and set a $28.00 price target on shares of Cisco Systems in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $31.04.
The firm has a 50 day moving average of $29.59 and a 200 day moving average of $27.61. The firm has a market capitalization of $156.12 billion and a price-to-earnings ratio of 15.37.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.97 billion. During the same period last year, the firm earned $0.54 EPS. The business’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts expect that Cisco Systems Inc. will post $2.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Thursday, July 7th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.35%. The ex-dividend date was Tuesday, July 5th.
In related news, Director Steven M. West sold 15,000 shares of Cisco Systems stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total transaction of $453,000.00. Following the sale, the director now owns 26,804 shares of the company’s stock, valued at approximately $809,480.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Pankaj Patel sold 125,000 shares of Cisco Systems stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $28.63, for a total transaction of $3,578,750.00. Following the sale, the executive vice president now directly owns 456,307 shares in the company, valued at approximately $13,064,069.41. The disclosure for this sale can be found here.
Several large investors recently added to or reduced their stakes in CSCO. Toth Financial increased 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 last quarter. Banque Pictet & Cie SA increased its stake in Cisco Systems by 0.4% in the fourth quarter. Banque Pictet & Cie SA now owns 95,857 shares of the network equipment provider’s stock valued at $2,603,000 after buying an additional 385 shares during the last quarter. LMR Partners LLP bought a new stake in Cisco Systems during the fourth quarter valued at $1,106,000. Swiss National Bank increased its stake in 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 valued at $251,018,000 after buying an additional 168,100 shares during the last quarter. Finally, Patriot Wealth Management Inc. increased its stake in Cisco Systems by 0.4% in the fourth quarter. Patriot Wealth Management Inc. now owns 176,235 shares of the network equipment provider’s stock valued at $4,786,000 after buying an additional 666 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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