Investors Sell Shares of Cisco Systems Inc. (CSCO) on Strength (CSCO)
Traders sold shares of Cisco Systems Inc. (NASDAQ:CSCO) on strength during trading hours on Thursday. $51.08 million flowed into the stock on the tick-up and $66.07 million flowed out of the stock on the tick-down, for a money net flow of $14.99 million out of the stock. Of all equities 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 $31.58
A number of equities analysts have commented on the company. Royal Bank Of Canada reissued an “outperform” rating and issued a $33.00 price objective (up previously from $31.00) on shares of Cisco Systems in a research note on Thursday, May 19th. Credit Suisse Group AG reissued a “sell” rating on shares of Cisco Systems in a research note on Thursday, June 16th. Morgan Stanley reissued a “hold” rating and issued a $28.00 price objective on shares of Cisco Systems in a research note on Monday, July 18th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $32.00 price objective on shares of Cisco Systems in a research note on Thursday, August 18th. Finally, Argus boosted their price objective on Cisco Systems from $34.00 to $37.00 and gave the stock a “buy” rating in a research note on Friday, August 19th. One investment 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. The stock currently has a consensus rating of “Buy” and an average target price of $31.80.
The company has a market cap of $158.88 billion and a PE ratio of 14.97. The company has a 50-day moving average of $30.78 and a 200 day moving average of $28.63.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.57 billion. The company’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.59 EPS. On average, analysts anticipate that Cisco Systems Inc. will post $2.43 earnings per share for the current fiscal year.
In other news, Director Carol Bartz sold 15,000 shares of the firm’s 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 transaction, the director now directly owns 23,104 shares of the company’s stock, valued at $722,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John T. Chambers sold 541,666 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $31.08, for a total value of $16,834,979.28. Following the transaction, the insider now directly owns 2,008,697 shares in the company, valued at $62,430,302.76. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently made changes to their positions in the stock. Stuyvesant Capital Management boosted its position 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 period. Investors Capital Advisory Services raised its stake in 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 worth $1,109,000 after buying an additional 1,829 shares in the last quarter. Bank of The Ozarks raised its stake in Cisco Systems by 51.1% in the fourth quarter. Bank of The Ozarks now owns 47,590 shares of the network equipment provider’s stock worth $1,293,000 after buying an additional 16,085 shares in the last quarter. First Houston Capital Inc. raised its stake in Cisco Systems by 28.6% in the fourth quarter. First Houston Capital Inc. now owns 61,800 shares of the network equipment provider’s stock worth $1,678,000 after buying an additional 13,750 shares in the last quarter. Finally, Wilkins Investment Counsel Inc. raised its stake in 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 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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