Investors Buy Shares of Cisco Systems Inc. (CSCO) on Weakness
Investors bought shares of Cisco Systems Inc. (NASDAQ:CSCO) on weakness during trading on Thursday. $170.58 million flowed into the stock on the tick-up and $75.23 million flowed out of the stock on the tick-down, for a money net flow of $95.35 million into the stock. Of all equities tracked, Cisco Systems had the 10th highest net in-flow for the day. Cisco Systems traded down ($0.10) for the day and closed at $31.44
A number of research analysts have commented on CSCO shares. Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $29.92 price target for the company. in a research note on Tuesday, May 10th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 11th. Zacks Investment Research cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, May 11th. Citigroup Inc. restated a “buy” rating and set a $30.00 price target on shares of Cisco Systems in a research note on Friday, May 13th. Finally, Credit Suisse Group AG restated a “sell” rating and set a $24.00 price target (up previously from $22.00) on shares of Cisco Systems in a research note on Saturday, May 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-three have given a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $31.80.
The company’s 50-day moving average is $30.78 and its 200 day moving average is $28.63. The company has a market capitalization of $158.88 billion and a price-to-earnings ratio of 14.97.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.03. The business earned $12.60 billion during the quarter, compared to analysts’ expectations of $12.57 billion. During the same quarter in the previous year, the business earned $0.59 EPS. Cisco Systems’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts expect that Cisco Systems Inc. will post $2.43 earnings per share for the current year.
In other news, EVP Pankaj Patel sold 4,133 shares of Cisco Systems stock in a transaction dated Monday, June 20th. The shares were sold at an average price of $29.02, for a total value of $119,939.66. Following the completion of the transaction, the executive vice president now owns 359,174 shares in the company, valued at $10,423,229.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carol Bartz sold 15,000 shares of Cisco Systems stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $31.25, for a total transaction of $468,750.00. Following the completion of the transaction, the director now owns 23,104 shares of the company’s stock, valued at approximately $722,000. The disclosure for this sale can be found here.
Several institutional investors have bought and sold shares of the company. Mizuho Trust & Banking Co. Ltd. increased its position in Cisco Systems by 1.7% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 7,780,402 shares of the network equipment provider’s stock valued at $214,194,000 after buying an additional 132,489 shares during the last quarter. Apriem Advisors boosted its position 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 valued at $3,729,000 after buying an additional 561 shares in the last quarter. Penserra Capital Management LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $39,188,000. Investors Capital Advisory Services boosted its position in shares of Cisco Systems by 4.7% in the fourth quarter. Investors Capital Advisory Services now owns 40,910 shares of the network equipment provider’s stock valued at $1,109,000 after buying an additional 1,829 shares in the last quarter. Finally, Columbia Asset Management boosted its position in shares of Cisco Systems by 1.9% in the fourth quarter. Columbia Asset Management now owns 163,982 shares of the network equipment provider’s stock valued at $4,453,000 after buying an additional 3,058 shares in 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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