Investors Sell Shares of Cisco Systems Inc. (CSCO) on Strength (CSCO)
Traders sold shares of Cisco Systems Inc. (NASDAQ:CSCO) on strength during trading on Monday. $82.33 million flowed into the stock on the tick-up and $146.98 million flowed out of the stock on the tick-down, for a money net flow of $64.65 million out of the stock. Of all stocks tracked, Cisco Systems had the 5th highest net out-flow for the day. Cisco Systems traded up $0.11 for the day and closed at $30.63
A number of research analysts recently commented on the company. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $30.00 price target on shares of Cisco Systems in a report on Monday, May 2nd. Sanford C. Bernstein reissued a “buy” rating on shares of Cisco Systems in a report on Sunday, May 22nd. Credit Suisse Group AG reissued a “sell” rating and issued a $24.00 price target (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 price target for the company. in a report on Monday, May 23rd. Finally, Drexel Hamilton reissued a “buy” rating and issued a $36.00 price target (up previously from $34.00) on shares of Cisco Systems in a report on Saturday, May 14th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have given a buy rating to the company. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $31.84.
The company has a market cap of $154.10 billion and a P/E ratio of 14.52. The firm’s 50-day moving average is $30.34 and its 200-day moving average is $28.27.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.57 billion. During the same quarter in the prior year, the company earned $0.59 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Equities research analysts anticipate that Cisco Systems Inc. will post $2.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Thursday, July 7th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.40%.
In other news, Director Steven M. West sold 15,000 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total transaction of $453,000.00. Following the completion of the transaction, the director now directly owns 26,804 shares in the company, valued at approximately $809,480.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Rebecca Jacoby sold 90,000 shares of the stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $28.97, for a total transaction of $2,607,300.00. Following the transaction, the senior vice president now owns 318,730 shares of the company’s stock, valued at $9,233,608.10. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of the company. Roof Eidam & Maycock ADV increased its position 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 last quarter. 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 last quarter. Stuyvesant Capital Management boosted its stake in shares of Cisco Systems by 3.1% in the fourth quarter. Stuyvesant Capital Management now owns 40,606 shares of the network equipment provider’s stock worth $1,103,000 after buying an additional 1,225 shares during the last quarter. Finally, Wilkins Investment Counsel Inc. boosted its stake in shares of Cisco Systems by 2.5% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 72,970 shares of the network equipment provider’s stock worth $1,982,000 after buying an additional 1,800 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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