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 Monday. $55.02 million flowed into the stock on the tick-up and $115.91 million flowed out of the stock on the tick-down, for a money net flow of $60.89 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 $0.09 for the day and closed at $29.91
CSCO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cisco Systems in a research report on Tuesday, April 12th. Bank of America Corp. lowered Cisco Systems from a “buy” rating to a “neutral” rating and increased their price target for the company from $27.00 to $30.00 in a research report on Tuesday, April 5th. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $29.77 price target for the company. in a research report on Monday, April 4th. Nomura Holdings Inc. reiterated a “hold” rating on shares of Cisco Systems in a research report on Monday, April 4th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Cisco Systems in a research report on Monday, March 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-six have given a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $30.92.
The company has a market cap of $150.44 billion and a price-to-earnings ratio of 14.81. The stock has a 50 day moving average of $28.92 and a 200-day moving average of $27.12.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 18th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.02. During the same period in the prior year, the business earned $0.54 earnings per share. The company had revenue of $12 billion for the quarter, compared to the consensus estimate of $11.97 billion. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Equities research analysts expect that Cisco Systems Inc. will post $2.33 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Investors of record on Thursday, July 7th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.48%. The ex-dividend date is Tuesday, July 5th.
In other Cisco Systems news, CMO Karen Walker sold 7,802 shares of the stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $28.50, for a total transaction of $222,357.00. Following the completion of the sale, the chief marketing officer now directly owns 175,250 shares in the company, valued at approximately $4,994,625. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Pankaj Patel sold 125,000 shares of the stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $28.63, for a total value of $3,578,750.00. Following the sale, the executive vice president now owns 456,307 shares of the company’s stock, valued at $13,064,069.41. The disclosure for this sale can be found here.
A number of hedge funds have modified their holdings of CSCO. Vanguard Group Inc. increased its stake in shares of Cisco Systems by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 301,463,407 shares of the network equipment provider’s stock worth $8,186,239,000 after buying an additional 6,597,497 shares during the last quarter. Diamond Hill Capital Management Inc. increased its stake in shares of Cisco Systems by 62.0% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 11,395,016 shares of the network equipment provider’s stock worth $309,432,000 after buying an additional 4,360,972 shares during the last quarter. I.G. Investment Management LTD. increased its stake in shares of Cisco Systems by 70.8% in the fourth quarter. I.G. Investment Management LTD. now owns 4,323,766 shares of the network equipment provider’s stock worth $117,433,000 after buying an additional 1,792,667 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth $39,188,000. Finally, Stack Financial Management Inc acquired a new stake in shares of Cisco Systems during the fourth quarter worth $32,281,000.
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.