Cisco Systems, Inc. (CSCO) Sees Large Drop in Short Interest
Cisco Systems, Inc. (NASDAQ:CSCO) was the target of a significant decrease in short interest during the month of December. As of December 30th, there was short interest totalling 40,299,089 shares, a decrease of 4.3% from the December 15th total of 42,118,625 shares. Based on an average daily trading volume, of 17,550,476 shares, the days-to-cover ratio is currently 2.3 days. Approximately 0.8% of the company’s stock are sold short.
In other Cisco Systems news, SVP Karen Walker sold 1,793 shares of the stock in a transaction dated Friday, December 23rd. The shares were sold at an average price of $30.41, for a total transaction of $54,525.13. Following the completion of the sale, the senior vice president now directly owns 183,275 shares of the company’s stock, valued at $5,573,392.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.11% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Banced Corp increased its position in Cisco Systems by 33.7% in the second quarter. Banced Corp now owns 20,250 shares of the network equipment provider’s stock valued at $531,000 after buying an additional 5,099 shares during the period. River & Mercantile Asset Management LLP increased its position in Cisco Systems by 71.6% in the second quarter. River & Mercantile Asset Management LLP now owns 117,443 shares of the network equipment provider’s stock worth $3,368,000 after buying an additional 49,000 shares during the period. Cape Cod Five Cents Savings Bank increased its position in Cisco Systems by 4.0% in the second quarter. Cape Cod Five Cents Savings Bank now owns 148,890 shares of the network equipment provider’s stock worth $4,272,000 after buying an additional 5,724 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its position in Cisco Systems by 4.8% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 775,713 shares of the network equipment provider’s stock worth $22,255,000 after buying an additional 35,300 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Cisco Systems by 5.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,086,120 shares of the network equipment provider’s stock worth $59,851,000 after buying an additional 98,704 shares during the period. Hedge funds and other institutional investors own 74.20% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) opened at 30.07 on Friday. Cisco Systems has a 12 month low of $22.46 and a 12 month high of $31.95. The stock’s 50 day moving average price is $30.15 and its 200-day moving average price is $30.48. The firm has a market capitalization of $150.94 billion, a P/E ratio of 14.39 and a beta of 1.38.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The firm had revenue of $12.35 billion for the quarter, compared to the consensus estimate of $12.34 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The firm’s revenue for the quarter was down 2.6% compared to the same quarter last year. On average, analysts forecast that Cisco Systems will post $2.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Investors of record on Friday, January 6th will be given a dividend of $0.26 per share. The ex-dividend date is Wednesday, January 4th. This represents a $1.04 annualized dividend and a yield of 3.46%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.52%.
Several equities analysts recently commented on the stock. FBN Securities set a $35.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research report on Saturday, November 19th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a research report on Monday, October 17th. JMP Securities reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, November 17th. Zacks Investment Research raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, December 7th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $34.00 price objective on shares of Cisco Systems in a research report on Tuesday, December 6th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.80.
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Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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