Cisco Systems, Inc. (CSCO) CAO Prat Bhatt Sells 25,638 Shares
Cisco Systems, Inc. (NASDAQ:CSCO) CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the sale, the chief accounting officer now directly owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Cisco Systems, Inc. (CSCO) traded down 0.71% during trading on Wednesday, hitting $32.18. The stock had a trading volume of 22,693,517 shares. The stock has a 50 day moving average price of $31.62 and a 200-day moving average price of $32.48. The stock has a market cap of $159.35 billion, a price-to-earnings ratio of 16.94 and a beta of 1.19. Cisco Systems, Inc. has a 12 month low of $29.12 and a 12 month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period last year, the company earned $0.63 EPS. Cisco Systems’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems, Inc. will post $2.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.60%. Cisco Systems’s dividend payout ratio is currently 60.73%.
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Hedge funds have recently modified their holdings of the stock. Washington Trust Bank lifted its stake in shares of Cisco Systems by 2.5% during the 2nd quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock worth $3,542,000 after acquiring an additional 2,726 shares during the last quarter. Holderness Investments Co. lifted its stake in shares of Cisco Systems by 12.1% during the 1st quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock worth $2,256,000 after acquiring an additional 7,186 shares during the last quarter. Investment House LLC lifted its stake in shares of Cisco Systems by 7.5% during the 2nd quarter. Investment House LLC now owns 85,400 shares of the network equipment provider’s stock worth $2,673,000 after acquiring an additional 5,975 shares during the last quarter. Pioneer Investment Management Inc. lifted its stake in shares of Cisco Systems by 5.2% during the 1st quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock worth $279,146,000 after acquiring an additional 408,875 shares during the last quarter. Finally, Murphy Capital Management Inc. lifted its stake in shares of Cisco Systems by 28.4% during the 2nd quarter. Murphy Capital Management Inc. now owns 61,309 shares of the network equipment provider’s stock worth $1,918,000 after acquiring an additional 13,568 shares during the last quarter. 74.70% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently weighed in on the company. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the stock a “hold” rating in a report on Saturday, July 1st. Vetr lowered Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $36.12 price objective for the company. in a report on Wednesday. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the stock a “buy” rating in a report on Saturday, July 1st. Credit Suisse Group reissued a “buy” rating on shares of Cisco Systems in a report on Thursday, August 10th. Finally, KeyCorp reissued a “buy” rating on shares of Cisco Systems in a report on Friday, September 8th. Fourteen analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $35.57.
Cisco Systems Company Profile
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).
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