Investors Sell Cisco Systems Inc. (CSCO) on Strength (CSCO)
Traders sold shares of Cisco Systems Inc. (NASDAQ:CSCO) on strength during trading on Monday. $66.89 million flowed into the stock on the tick-up and $110.41 million flowed out of the stock on the tick-down, for a money net flow of $43.52 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 $0.18 for the day and closed at $31.02
A number of analysts have recently commented on the company. Wells Fargo & Co. restated an “outperform” rating and issued a $36.50 price target (up from $34.00) on shares of Cisco Systems in a report on Monday. Robert W. Baird reiterated an “outperform” rating and set a $35.00 target price on shares of Cisco Systems in a report on Friday. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $33.17 target price on the stock in a report on Wednesday, September 14th. Deutsche Bank AG upped their target price on Cisco Systems from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, September 14th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $35.00 target price on shares of Cisco Systems in a report on Sunday, September 4th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $32.11.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.57 billion. During the same quarter last year, the company posted $0.59 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Monday, October 3rd. Cisco Systems’s dividend payout ratio is presently 49.06%.
In other news, Director Roderick C. Mcgeary sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $30.91, for a total transaction of $463,650.00. Following the sale, the director now directly owns 140,595 shares in the company, valued at approximately $4,345,791.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Pankaj Patel sold 9,891 shares of the firm’s stock in a transaction on Thursday, June 23rd. The shares were sold at an average price of $29.03, for a total transaction of $287,135.73. Following the sale, the executive vice president now owns 356,307 shares in the company, valued at $10,343,592.21. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.
Several hedge funds have recently made changes to their positions in CSCO. Sun Life Financial INC purchased a new stake in shares of Cisco Systems during the first quarter valued at approximately $63,773,000. Riggs Asset Managment Co. Inc. increased its stake in shares of Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock valued at $102,000 after buying an additional 225 shares during the last quarter. Lenox Wealth Management Inc. increased its stake in shares of Cisco Systems by 35.0% in the second quarter. Lenox Wealth Management Inc. now owns 3,835 shares of the network equipment provider’s stock valued at $110,000 after buying an additional 995 shares during the last quarter. Global X Management Co. LLC increased its stake in shares of Cisco Systems by 101.9% in the second quarter. Global X Management Co. LLC now owns 4,244 shares of the network equipment provider’s stock valued at $122,000 after buying an additional 2,142 shares during the last quarter. Finally, Financial Management Professionals Inc. increased its stake in shares of Cisco Systems by 25.7% in the second quarter. Financial Management Professionals Inc. now owns 4,389 shares of the network equipment provider’s stock valued at $125,000 after buying an additional 896 shares during the last quarter. Hedge funds and other institutional investors own 75.04% of the company’s stock.
Cisco Systems Company Profile
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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