Investors Sell Shares of 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
A number of equities analysts have commented on CSCO shares. JPMorgan Chase & Co. restated a “buy” rating on shares of Cisco Systems in a research report on Tuesday, April 12th. Vetr downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $29.92 price objective for the company. in a research report on Tuesday, May 10th. Deutsche Bank AG restated a “buy” rating on shares of Cisco Systems in a research report on Monday, April 18th. Drexel Hamilton reaffirmed a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research note on Saturday, June 25th. Finally, Credit Suisse Group AG reaffirmed an “underperform” rating on shares of Cisco Systems in a research note on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $31.16.
The firm’s 50 day moving average price is $29.59 and its 200 day moving average price is $27.61. The company has a market cap of $156.12 billion and a price-to-earnings ratio of 15.37.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $11.97 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems Inc. will post $2.33 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Thursday, July 7th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.35%. The ex-dividend date of this dividend was Tuesday, July 5th.
In other news, Director Steven M. West sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $30.20, for a total transaction of $453,000.00. Following the sale, the director now directly owns 26,804 shares in the company, valued at $809,480.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman John T. Chambers sold 541,667 shares of the business’s 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 owns 1,967,156 shares in the company, valued at $56,949,166.20. The disclosure for this sale can be found here.
Several hedge funds have recently added to or reduced their stakes in CSCO. Roof Eidam & Maycock ADV boosted its stake in Cisco Systems by 0.4% in the fourth quarter. Roof Eidam & Maycock ADV now owns 37,625 shares of the network equipment provider’s stock worth $1,022,000 after buying an additional 150 shares in the last quarter. Renaissance Group LLC boosted its stake in shares of Cisco Systems by 0.3% in the fourth quarter. Renaissance Group LLC now owns 86,484 shares of the network equipment provider’s stock worth $2,348,000 after buying an additional 287 shares during the period. Apriem Advisors boosted its stake in shares of Cisco Systems by 0.4% in the fourth quarter. Apriem Advisors now owns 137,325 shares of the network equipment provider’s stock worth $3,729,000 after buying an additional 561 shares during the period. Patriot Wealth Management Inc. boosted its stake in shares of 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 worth $4,786,000 after buying an additional 666 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in shares of Cisco Systems by 0.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 121,631 shares of the network equipment provider’s stock worth $3,303,000 after buying an additional 690 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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