Cisco Systems, Inc. (NASDAQ:CSCO) EVP Sells $1,211,596.10 in Stock

Cisco Systems, Inc. (NASDAQ:CSCO) EVP Thimaya K. Subaiya sold 21,230 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total value of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cisco Systems Price Performance

Shares of CSCO opened at $58.55 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The stock has a market cap of $233.66 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83. The stock’s 50-day moving average price is $55.02 and its two-hundred day moving average price is $50.13. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 earnings per share. On average, equities analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.73%. Cisco Systems’s payout ratio is 68.67%.

Analysts Set New Price Targets

A number of research firms have commented on CSCO. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. UBS Group increased their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Morgan Stanley boosted their price objective on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.94.

Institutional Investors Weigh In On Cisco Systems

A number of hedge funds have recently modified their holdings of CSCO. State Street Corp increased its stake in 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 purchasing an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Cisco Systems by 1.3% in 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 buying an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after acquiring an additional 1,853,598 shares in the last quarter. Finally, FMR LLC boosted its stake in Cisco Systems by 10.1% in the 3rd 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. Institutional investors and hedge funds own 73.33% of the company’s stock.

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.