Cisco Systems (NASDAQ:CSCO) Shares Unloaded Sen. Marco Rubio

Senator Marco Rubio (R-Florida) recently sold shares of Cisco Systems, Inc. (NASDAQ:CSCO). In a filing disclosed on February 06th, the Senator disclosed that they had sold between $1,001 and $15,000 in Cisco Systems stock on January 7th.

Senator Marco Rubio also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Coca-Cola (NYSE:KO) on 1/7/2025.

Cisco Systems Trading Down 0.5 %

Shares of CSCO stock opened at $62.27 on Friday. The stock has a market capitalization of $248.01 billion, a P/E ratio of 26.73, a P/E/G ratio of 4.51 and a beta of 0.84. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $62.91. The firm’s 50 day moving average is $59.59 and its 200 day moving average is $54.82.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.98 earnings per share. Research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. Cisco Systems’s payout ratio is currently 68.67%.

Insider Buying and Selling

In related news, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now directly owns 65,915 shares of the company’s stock, valued at $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by company insiders.

Institutional Trading of Cisco Systems

Several institutional investors and hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Cisco Systems by 1.7% during the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after acquiring an additional 3,241,682 shares during the period. Geode Capital Management LLC boosted its position in Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after acquiring an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Cisco Systems by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock valued at $4,402,239,000 after purchasing an additional 1,677,383 shares in the last quarter. FMR LLC raised its position in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB lifted its position in Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after acquiring an additional 216,632 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CSCO shares. Morgan Stanley lifted their price target on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Citigroup lifted their target price on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research note on Friday, January 17th. Wells Fargo & Company raised their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Seven investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $62.72.

About Senator Rubio

Marco Rubio (Republican Party) is a member of the U.S. Senate from Florida. He assumed office on January 3, 2011. His current term ends on January 3, 2029. Rubio (Republican Party) ran for re-election to the U.S. Senate to represent Florida. He won in the general election on November 8, 2022. Rubio was first elected to the Senate in 2010 to replace retiring incumbent Mel Martinez (R). In the general election, Rubio defeated Kendrick B. Meek (D) and Gov. Charlie Crist (I). Crist had been running in the Republican primary against Rubio but dropped out to run as an independent after polling showed Rubio in the lead. In April 2015, Rubio announced that he was running for president of the United States in 2016 and said he would not seek re-election to his Senate seat in 2016. Rubio dropped out of the presidential election in March 2016 after coming in second to Donald Trump in the Florida Republican primary. In June, Rubio announced that he would seek re-election to his Senate seat. He won re-election with 52 percent of the vote. He previously was a member of the Florida House of Representatives from 2000 to 2008, serving as majority leader from 2003 to 2006 and House speaker from 2006 to 2008. Before serving in the state House, Rubio was a member of the West Miami City Commission. Rubio’s parents immigrated to the United States from Cuba in 1956. On May 18, 2020, Senate Majority Leader Mitch McConnell (R) announced Rubio as the interim chairman of the Senate Intelligence Committee. Rubio replaced Senator Richard Burr (R) who stepped down from the position on May 15, 2020, due to a pending federal investigation. As of a 2014 analysis of multiple outside rankings, Rubio is an average Republican member of Congress, meaning he will vote with the Republican Party on the majority of bills. Born to a family of Cuban immigrants, Rubio was raised in Miami, FL, and Las Vegas, NV. He attended South Miami Senior High School and graduated in 1989. He then attended Tarkio College for one year on a football scholarship from 1989 to 1990, before enrolling at Santa Fe Community College (later renamed Santa Fe College). He earned a B.S. degree from the University of Florida in 1993 and his J.D. degree cum laude from the University of Miami School of Law in 1996.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.