Investors Buy Cisco Systems Inc. (CSCO) on Weakness
Investors purchased shares of Cisco Systems Inc. (NASDAQ:CSCO) on weakness during trading hours on Tuesday. $177.57 million flowed into the stock on the tick-up and $91.90 million flowed out of the stock on the tick-down, for a money net flow of $85.67 million into the stock. Of all companies tracked, Cisco Systems had the 2nd highest net in-flow for the day. Cisco Systems traded down ($0.11) for the day and closed at $30.62
Several equities research analysts recently commented on CSCO shares. JPMorgan Chase & Co. restated a “buy” rating on shares of Cisco Systems in a research note on Tuesday, April 12th. Bank of America Corp. lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating and increased their price target for the stock from $27.00 to $30.00 in a research note on Tuesday, April 5th. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $29.77 price target on the stock. in a research note on Monday, April 4th. Nomura restated a “hold” rating on shares of Cisco Systems in a research note on Monday, April 4th. Finally, Deutsche Bank AG restated a “buy” rating on shares of Cisco Systems in a research note on Monday, April 18th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $31.04.
The company has a market cap of $154.01 billion and a PE ratio of 15.16. The company’s 50-day moving average is $29.42 and its 200-day moving average is $27.53.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 18th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. During the same period last year, the firm posted $0.54 earnings per share. The business had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.97 billion. Cisco Systems’s quarterly revenue was down 1.1% on a year-over-year basis. Analysts predict 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 3.40%.
In other Cisco Systems news, Director Steven M. West sold 15,000 shares of the stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $30.20, for a total value of $453,000.00. Following the transaction, the director now owns 26,804 shares of the company’s stock, valued at $809,480.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Pankaj Patel sold 9,891 shares of the stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $29.03, for a total value of $287,135.73. Following the completion of the transaction, the executive vice president now directly owns 356,307 shares in the company, valued at approximately $10,343,592.21. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of the company. Roof Eidam & Maycock ADV boosted 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 valued at $1,022,000 after buying an additional 150 shares in the last quarter. Stuyvesant Capital Management boosted 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 valued at $1,103,000 after buying an additional 1,225 shares in the last quarter. LMR Partners LLP acquired a new stake in Cisco Systems during the fourth quarter valued at about $1,106,000. Investors Capital Advisory Services boosted 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 valued at $1,109,000 after buying an additional 1,829 shares in the last quarter. Finally, Pictet North America Advisors SA boosted its stake in Cisco Systems by 1.1% in the fourth quarter. Pictet North America Advisors SA now owns 41,007 shares of the network equipment provider’s stock valued at $1,114,000 after buying an additional 435 shares in the last quarter.
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.