Cisco Systems, Inc. (NASDAQ:CSCO) Director Arun Sarin sold 14,189 shares of Cisco Systems stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $44.10, for a total transaction of $625,734.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $42.94 on Friday. The stock has a market cap of $208,646.72, a PE ratio of 19.51, a P/E/G ratio of 2.91 and a beta of 1.23. Cisco Systems, Inc. has a fifty-two week low of $30.36 and a fifty-two week high of $45.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same period in the previous year, the firm earned $0.57 EPS. equities analysts predict that Cisco Systems, Inc. will post 2.32 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be paid a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 3.07%. Cisco Systems’s dividend payout ratio is -362.50%.
Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that allows the company to buyback $25.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of large investors have recently modified their holdings of CSCO. Stonehearth Capital Management LLC purchased a new stake in Cisco Systems during the fourth quarter worth about $102,000. Tortoise Investment Management LLC increased its stake in shares of Cisco Systems by 36.1% during the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Cisco Systems during the second quarter worth approximately $104,000. Keeler Thomas Management LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth approximately $108,000. Finally, Manchester Capital Management LLC increased its stake in shares of Cisco Systems by 10.7% during the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after buying an additional 350 shares during the period. Institutional investors own 75.06% of the company’s stock.
Several brokerages have issued reports on CSCO. Barclays lifted their target price on shares of Cisco Systems from $37.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. Deutsche Bank reissued a “buy” rating and set a $45.00 price target (up previously from $40.00) on shares of Cisco Systems in a research report on Thursday, November 16th. Jefferies Group boosted their price target on shares of Cisco Systems to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 16th. Bank of America boosted their price target on shares of Cisco Systems from $35.00 to $37.00 and gave the company a “neutral” rating in a research report on Thursday, November 16th. Finally, Nomura raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Monday, February 12th. Ten research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $43.66.
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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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