Cisco Systems Target of Unusually High Options Trading (CSCO)
Cisco Systems, Inc. (NASDAQ:CSCO) was the recipient of some unusual options trading on Monday. Stock investors purchased 25,835 call options on the stock. This represents an increase of approximately 109% compared to the typical daily volume of 12,344 call options.
In related news, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total value of $7,785,000.00. Following the transaction, the insider now owns 729,305 shares in the company, valued at approximately $22,710,557.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 121,390 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $3,891,763.40. Following the completion of the transaction, the chief executive officer now owns 552,694 shares in the company, valued at approximately $17,719,369.64. The disclosure for this sale can be found here. Insiders sold a total of 485,138 shares of company stock worth $15,347,574 in the last 90 days. 0.11% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Bogart Wealth LLC raised its holdings in shares of Cisco Systems by 44.2% during the 2nd quarter. Bogart Wealth LLC now owns 44,452 shares of the network equipment provider’s stock valued at $1,391,000 after purchasing an additional 13,621 shares in the last quarter. MPS Loria Financial Planners LLC bought a new position in shares of Cisco Systems during the 2nd quarter valued at $646,000. Frontier Investment Mgmt Co. raised its holdings in shares of Cisco Systems by 1.2% during the 2nd quarter. Frontier Investment Mgmt Co. now owns 377,432 shares of the network equipment provider’s stock valued at $11,814,000 after purchasing an additional 4,341 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in shares of Cisco Systems by 3.7% during the 2nd quarter. Perigon Wealth Management LLC now owns 179,705 shares of the network equipment provider’s stock valued at $5,625,000 after purchasing an additional 6,394 shares in the last quarter. Finally, W. E. Donoghue & Co. LLC bought a new position in shares of Cisco Systems during the 2nd quarter valued at $16,034,000. Institutional investors and hedge funds own 75.37% of the company’s stock.
Shares of Cisco Systems (CSCO) opened at 32.60 on Thursday. The company’s 50-day moving average is $31.72 and its 200-day moving average is $32.41. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.60. The stock has a market capitalization of $161.43 billion, a PE ratio of 17.16 and a beta of 1.19.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. The business had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. Cisco Systems’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Equities research analysts expect that Cisco Systems will post $2.43 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be issued a dividend of $0.29 per share. The ex-dividend date is Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.56%. Cisco Systems’s dividend payout ratio is currently 60.73%.
CSCO has been the topic of several recent research reports. Drexel Hamilton restated a “buy” rating and issued a $39.00 price target on shares of Cisco Systems in a research report on Sunday, June 25th. Deutsche Bank AG restated a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a research report on Tuesday, June 13th. Morgan Stanley set a $39.00 price target on Cisco Systems and gave the company a “buy” rating in a research report on Monday, May 29th. Jefferies Group LLC restated a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a research report on Friday, May 26th. Finally, BidaskClub upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Cisco Systems has an average rating of “Buy” and an average price target of $35.57.
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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).
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