Insider Selling: Cisco Systems, Inc. (NASDAQ:CSCO) CEO Sells 171,744 Shares of Stock

by · The Cerbat Gem

Cisco Systems, Inc. (NASDAQ:CSCO – Get Free Report) CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was 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 in the company, valued at approximately $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Cisco Systems Trading Down 0.5 %

Shares of NASDAQ:CSCO traded down $0.30 during midday trading on Tuesday, reaching $57.01. The company’s stock had a trading volume of 17,474,825 shares, compared to its average volume of 19,158,156. The firm has a market capitalization of $227.51 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 4.67 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The firm has a 50 day moving average price of $54.35 and a two-hundred day moving average price of $49.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced 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 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%. The firm’s 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 EPS. As a group, analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is 68.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Hohimer Wealth Management LLC increased its position in Cisco Systems by 24.7% in the 3rd quarter. Hohimer Wealth Management LLC now owns 104,481 shares of the network equipment provider’s stock valued at $5,560,000 after buying an additional 20,679 shares in the last quarter. Soltis Investment Advisors LLC increased its position in Cisco Systems by 6.6% in the 3rd quarter. Soltis Investment Advisors LLC now owns 12,930 shares of the network equipment provider’s stock valued at $688,000 after buying an additional 798 shares in the last quarter. Fortem Financial Group LLC increased its position in Cisco Systems by 35.7% in the 3rd quarter. Fortem Financial Group LLC now owns 53,774 shares of the network equipment provider’s stock valued at $2,862,000 after buying an additional 14,135 shares in the last quarter. Financial Avengers Inc. increased its position in Cisco Systems by 76.9% in the 3rd quarter. Financial Avengers Inc. now owns 3,001 shares of the network equipment provider’s stock valued at $160,000 after buying an additional 1,305 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its position in Cisco Systems by 6.6% in the 3rd quarter. Coldstream Capital Management Inc. now owns 180,538 shares of the network equipment provider’s stock valued at $9,650,000 after buying an additional 11,139 shares in the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CSCO shares. Barclays raised their price objective on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Piper Sandler lifted their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Evercore ISI lifted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Finally, Jefferies Financial Group decreased their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.94.

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Cisco Systems Company Profile

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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.

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