Investors Sell Cisco Systems, Inc. (CSCO) on Strength (CSCO)
Investors sold shares of Cisco Systems, Inc. (NASDAQ:CSCO) on strength during trading on Monday. $78.88 million flowed into the stock on the tick-up and $121.73 million flowed out of the stock on the tick-down, for a money net flow of $42.85 million out of the stock. Of all stocks tracked, Cisco Systems had the 12th highest net out-flow for the day. Cisco Systems traded up $0.31 for the day and closed at $30.68
A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets cut shares of Cisco Systems from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $37.00 to $35.00 in a research report on Tuesday, May 9th. Drexel Hamilton reaffirmed a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research report on Tuesday, May 16th. Robert W. Baird reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Monday, May 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $36.00 price objective (down previously from $37.00) on shares of Cisco Systems in a research report on Thursday, May 18th. Finally, Zacks Investment Research cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. Fourteen investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $35.47.
The stock has a 50-day moving average price of $31.48 and a 200 day moving average price of $32.55. The stock has a market cap of $153.19 billion, a P/E ratio of 16.15 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The company had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post $2.43 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were paid a $0.29 dividend. The ex-dividend date was Wednesday, July 5th. This represents a $1.16 annualized dividend and a yield of 3.78%. Cisco Systems’s payout ratio is 60.73%.
In related news, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the sale, the senior vice president now directly owns 271,725 shares in the company, valued at $8,616,399.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 396,179 shares of company stock worth $12,503,407. 0.11% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Barnett & Company Inc. increased its stake in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares during the period. Tortoise Investment Management LLC increased its stake in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in Cisco Systems during the second quarter valued at approximately $104,000. Grove Bank & Trust increased its stake in Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 2,120 shares during the period. Finally, Manchester Capital Management LLC increased its stake in Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares during the period. 75.28% of the stock is currently owned by institutional investors.
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About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).