Cisco Systems Inc. (CSCO) Trading Down 1.5%
Cisco Systems Inc. (NASDAQ:CSCO) dropped 1.5% on Thursday . The stock traded as low as $30.06 and last traded at $30.26, with a volume of 26,424,710 shares traded. The stock had previously closed at $30.72.
Several research analysts have commented on CSCO shares. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $30.00 price target on shares of Cisco Systems in a research report on Monday, May 2nd. Vetr raised Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $29.92 price target on the stock in a research report on Wednesday, May 4th. Morgan Stanley reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 11th. Zacks Investment Research lowered Cisco Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, May 11th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $30.00 price target on shares of Cisco Systems in a research report on Friday, May 13th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-four have assigned a buy rating to the company. Cisco Systems currently has an average rating of “Buy” and an average target price of $31.77.
The stock has a market cap of $153.31 billion and a P/E ratio of 15.09. The company has a 50-day moving average price of $30.18 and a 200-day moving average price of $28.09.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.57 billion. During the same period in the previous year, the business posted $0.59 EPS. Cisco Systems’s revenue for the quarter was down 1.6% on a year-over-year basis. On average, analysts expect that Cisco Systems Inc. will post $2.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Thursday, July 7th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $1.04 dividend on an annualized basis and a yield of 3.41%.
In other Cisco Systems news, Chairman John T. Chambers sold 541,667 shares of the firm’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $28.95, for a total transaction of $15,681,259.65. Following the transaction, the chairman now directly owns 1,967,156 shares in the company, valued at $56,949,166.20. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven M. West sold 15,000 shares of the firm’s 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 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.
A number of institutional investors recently bought and sold shares of the stock. Princeton Alpha Management LP bought a new position in Cisco Systems during the fourth quarter valued at $1,264,000. Loudon Investment Management LLC raised 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 valued at $5,323,000 after buying an additional 2,219 shares during the period. Daiwa Securities Group Inc. raised its position in Cisco Systems by 52.1% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,061,330 shares of the network equipment provider’s stock valued at $28,821,000 after buying an additional 363,369 shares during the period. Bank Hapoalim BM raised its position in Cisco Systems by 331.0% in the fourth quarter. Bank Hapoalim BM now owns 84,350 shares of the network equipment provider’s stock valued at $2,291,000 after buying an additional 64,778 shares during the period. Finally, Madison Investment Holdings Inc. raised its position in Cisco Systems by 33.9% in the fourth quarter. Madison Investment Holdings Inc. now owns 860,432 shares of the network equipment provider’s stock valued at $23,365,000 after buying an additional 217,955 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.
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