Traders Buy Shares of Cisco Systems Inc. (CSCO) on Weakness
Investors purchased shares of Cisco Systems Inc. (NASDAQ:CSCO) on weakness during trading hours on Thursday. $116.26 million flowed into the stock on the tick-up and $75.64 million flowed out of the stock on the tick-down, for a money net flow of $40.62 million into the stock. Of all stocks tracked, Cisco Systems had the 10th highest net in-flow for the day. Cisco Systems traded down ($0.24) for the day and closed at $30.52
CSCO has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $33.00 target price (up previously from $31.00) on shares of Cisco Systems in a research report on Thursday, May 19th. Credit Suisse Group AG restated a “sell” rating on shares of Cisco Systems in a report on Thursday, June 16th. Morgan Stanley restated a “hold” rating and issued a $28.00 price objective on shares of Cisco Systems in a report on Monday, July 18th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $30.00 price objective on shares of Cisco Systems in a report on Tuesday, April 12th. Finally, Drexel Hamilton restated a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $31.04.
The firm’s 50 day moving average price is $29.32 and its 200 day moving average price is $27.40. The stock has a market capitalization of $153.56 billion and a P/E ratio of 15.11.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. During the same quarter last year, the business earned $0.54 earnings per share. The firm earned $12 billion during the quarter, compared to analysts’ expectations of $11.97 billion. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems Inc. will post $2.33 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Thursday, July 7th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.41%.
In other news, SVP Rebecca Jacoby sold 90,000 shares of the stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $28.97, for a total value of $2,607,300.00. Following the completion of the sale, the senior vice president now owns 318,730 shares in the company, valued at $9,233,608.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven M. West sold 15,000 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total value of $453,000.00. Following the completion of the sale, the director now owns 26,804 shares of the company’s stock, valued at approximately $809,480.80. The disclosure for this sale can be found here.
Several large investors recently bought and sold shares of the stock. Roof Eidam & Maycock ADV raised its stake in Cisco Systems by 0.4% in the fourth quarter. Roof Eidam & Maycock ADV now owns 37,625 shares of the network equipment provider’s stock worth $1,022,000 after buying an additional 150 shares during the period. Westport Resources Management Inc. raised its stake in Cisco Systems by 6.1% in the fourth quarter. Westport Resources Management Inc. now owns 38,335 shares of the network equipment provider’s stock worth $1,041,000 after buying an additional 2,200 shares during the period. Stuyvesant Capital Management raised its stake in 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. LMR Partners LLP bought a new stake in Cisco Systems during the fourth quarter worth about $1,106,000. Finally, 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 during the period.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.