Cisco Systems Inc. (CSCO) Short Interest Update
Cisco Systems Inc. (NASDAQ:CSCO) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totalling 49,379,570 shares, a decline of 3.6% from the September 15th total of 51,214,345 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average trading volume of 21,187,024 shares, the short-interest ratio is presently 2.3 days.
Several research firms have weighed in on CSCO. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Tuesday. Deutsche Bank AG reaffirmed a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a research report on Monday. JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a research report on Wednesday, October 5th. Vetr raised Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $35.44 price target on the stock in a research report on Monday, October 3rd. Finally, Bank of America Corp. reissued a “neutral” rating and set a $33.00 target price on shares of Cisco Systems in a report on Monday, September 26th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and a consensus price target of $32.56.
Shares of Cisco Systems (NASDAQ:CSCO) opened at 30.44 on Wednesday. The company’s 50-day moving average price is $31.23 and its 200-day moving average price is $29.55. The company has a market capitalization of $152.64 billion, a price-to-earnings ratio of 14.43 and a beta of 1.49. Cisco Systems has a one year low of $22.46 and a one year high of $31.95.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The company had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.57 billion. During the same quarter in the previous year, the business earned $0.59 EPS. Cisco Systems’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts predict that Cisco Systems will post $2.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 3.42%. Cisco Systems’s dividend payout ratio is presently 49.06%.
In other Cisco Systems news, SVP Mark D. Chandler sold 25,024 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $30.44, for a total transaction of $761,730.56. Following the transaction, the senior vice president now owns 229,905 shares of the company’s stock, valued at approximately $6,998,308.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Hennessy sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 21st. The stock was sold at an average price of $31.25, for a total value of $468,750.00. Following the transaction, the director now directly owns 88,369 shares in the company, valued at approximately $2,761,531.25. The disclosure for this sale can be found here. 0.13% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Douglas Lane & Associates LLC acquired a new position in shares of Cisco Systems during the first quarter worth about $65,154,000. Bellecapital International Ltd. increased its position in shares of Cisco Systems by 3.6% in the first quarter. Bellecapital International Ltd. now owns 195,061 shares of the network equipment provider’s stock worth $5,298,000 after buying an additional 6,820 shares in the last quarter. Vicus Capital increased its position in shares of Cisco Systems by 50.2% in the first quarter. Vicus Capital now owns 25,647 shares of the network equipment provider’s stock worth $730,000 after buying an additional 8,574 shares in the last quarter. PGGM Investments increased its position in shares of Cisco Systems by 1.5% in the first quarter. PGGM Investments now owns 4,383,464 shares of the network equipment provider’s stock worth $124,797,000 after buying an additional 65,662 shares in the last quarter. Finally, Lodestar Investment Counsel LLC IL increased its position in shares of Cisco Systems by 45.6% in the first quarter. Lodestar Investment Counsel LLC IL now owns 40,450 shares of the network equipment provider’s stock worth $1,152,000 after buying an additional 12,670 shares in the last quarter. Institutional investors own 75.06% of the company’s stock.
About Cisco Systems
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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