Traders sold shares of Cisco Systems, Inc. (NASDAQ:CSCO) on strength during trading on Friday. $116.70 million flowed into the stock on the tick-up and $203.12 million flowed out of the stock on the tick-down, for a money net flow of $86.42 million out of the stock. Of all companies tracked, Cisco Systems had the 0th highest net out-flow for the day. Cisco Systems traded up $1.06 for the day and closed at $44.00
Several equities analysts recently issued reports on CSCO shares. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.49 price objective on the stock in a research report on Monday, November 13th. Robert W. Baird reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research report on Friday, November 10th. Cowen reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research report on Friday, November 3rd. Oppenheimer reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research report on Tuesday, October 31st. Finally, UBS Group reaffirmed a “buy” rating and issued a $39.00 price objective on shares of Cisco Systems in a research report on Thursday, November 16th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems has an average rating of “Buy” and a consensus price target of $43.66.
The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38. The firm has a market cap of $211,970.80, a P/E ratio of -137.50, a P/E/G ratio of 2.96 and a beta of 1.23.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.82 billion. During the same quarter in the prior year, the business posted $0.57 EPS. equities research analysts predict that Cisco Systems, Inc. will post 2.32 earnings per share for the current fiscal 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 $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Wednesday, April 4th. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio is presently -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 repurchase $25.00 billion in shares. This repurchase authorization allows the network equipment provider to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
In other Cisco Systems news, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the sale, the senior vice president now owns 257,476 shares in the company, valued at approximately $9,892,227.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arun Sarin sold 14,189 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $44.10, for a total value of $625,734.90. The disclosure for this sale can be found here. Insiders sold a total of 104,440 shares of company stock valued at $4,086,782 in the last quarter. 0.05% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the business. Trust Investment Advisors boosted its holdings in shares of Cisco Systems by 2.6% during the 2nd quarter. Trust Investment Advisors now owns 44,850 shares of the network equipment provider’s stock valued at $1,404,000 after purchasing an additional 1,125 shares during the last quarter. Beach Investment Management LLC. bought a new position in shares of Cisco Systems during the 2nd quarter valued at about $1,030,000. Norris Perne & French LLP MI boosted its holdings in shares of Cisco Systems by 40.8% during the 2nd quarter. Norris Perne & French LLP MI now owns 220,581 shares of the network equipment provider’s stock valued at $6,905,000 after purchasing an additional 63,942 shares during the last quarter. Hodges Capital Management Inc. boosted its holdings in shares of Cisco Systems by 4.9% during the 2nd quarter. Hodges Capital Management Inc. now owns 43,594 shares of the network equipment provider’s stock valued at $1,364,000 after purchasing an additional 2,053 shares during the last quarter. Finally, Endurance Wealth Management Inc. boosted its holdings in shares of Cisco Systems by 0.3% during the 2nd quarter. Endurance Wealth Management Inc. now owns 152,964 shares of the network equipment provider’s stock valued at $4,788,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.
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Cisco Systems Company Profile
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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