Traders Sell Shares of Cisco Systems Inc. (CSCO) on Strength (CSCO)
Investors sold shares of Cisco Systems Inc. (NASDAQ:CSCO) on strength during trading hours on Thursday. $88.77 million flowed into the stock on the tick-up and $154.46 million flowed out of the stock on the tick-down, for a money net flow of $65.69 million out of the stock. Of all stocks tracked, Cisco Systems had the 0th highest net out-flow for the day. Cisco Systems traded up $0.10 for the day and closed at $30.95
CSCO has been the subject of a number of research reports. Deutsche Bank AG reissued a “buy” rating on shares of Cisco Systems in a research report on Monday, April 18th. Royal Bank Of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Cisco Systems in a research report on Tuesday, April 19th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $30.00 target price on shares of Cisco Systems in a research report on Monday, May 2nd. Vetr raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $29.92 target price for the company in a research report on Wednesday, May 4th. Finally, Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-five have given a buy rating to the company. Cisco Systems presently has an average rating of “Buy” and an average target price of $31.11.
The stock has a 50-day moving average of $29.88 and a 200 day moving average of $27.88. The stock has a market capitalization of $155.27 billion and a price-to-earnings ratio of 15.28.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. The firm had revenue of $12 billion for the quarter, compared to the consensus estimate of $11.97 billion. The company’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.54 EPS. Equities analysts predict that Cisco Systems Inc. will post $2.33 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Thursday, July 7th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Tuesday, July 5th.
In other news, EVP Pankaj Patel sold 9,891 shares of the company’s 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 transaction, the executive vice president now directly owns 356,307 shares in the company, valued at $10,343,592.21. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven M. West sold 15,000 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $30.20, for a total transaction of $453,000.00. Following the completion of the transaction, the director now owns 26,804 shares in the company, valued at $809,480.80. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of the company. Princeton Alpha Management LP bought a new position in Cisco Systems during the fourth quarter worth approximately $1,264,000. Loudon Investment Management LLC boosted its position in Cisco Systems by 1.1% in the fourth quarter. Loudon Investment Management LLC now owns 196,018 shares of the network equipment provider’s stock worth $5,323,000 after buying an additional 2,219 shares during the last quarter. Smithfield Trust Co. boosted its position in Cisco Systems by 2.6% in the fourth quarter. Smithfield Trust Co. now owns 51,890 shares of the network equipment provider’s stock worth $1,409,000 after buying an additional 1,334 shares during the last quarter. Chartwell Investment Partners LLC boosted its position in Cisco Systems by 29.2% in the fourth quarter. Chartwell Investment Partners LLC now owns 409,041 shares of the network equipment provider’s stock worth $11,108,000 after buying an additional 92,506 shares during the last quarter. Finally, Busey Trust CO boosted its position in Cisco Systems by 1.4% in the fourth quarter. Busey Trust CO now owns 202,532 shares of the network equipment provider’s stock worth $5,499,000 after buying an additional 2,778 shares during 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.
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