Cisco Systems, Inc. (NASDAQ:CSCO) EVP David Goeckeler sold 35,000 shares of Cisco Systems stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $43.27, for a total value of $1,514,450.00. Following the completion of the transaction, the executive vice president now owns 490,458 shares in the company, valued at approximately $21,222,117.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Cisco Systems traded down $0.91, reaching $42.29, during midday trading on Monday, MarketBeat reports. 28,601,355 shares of the stock were exchanged, compared to its average volume of 26,252,559. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.28 and a current ratio of 2.34. Cisco Systems, Inc. has a 1 year low of $30.36 and a 1 year high of $46.37. The company has a market capitalization of $208.12 billion, a price-to-earnings ratio of 19.67, a price-to-earnings-growth ratio of 3.07 and a beta of 1.09.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.01. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. The firm had revenue of $12.46 billion for the quarter, compared to analysts’ expectations of $12.42 billion. During the same period in the previous year, the firm posted $0.60 EPS. sell-side analysts forecast that Cisco Systems, Inc. will post 2.34 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 25th. Stockholders of record on Friday, July 6th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, July 5th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.12%. Cisco Systems’s dividend payout ratio is currently 61.40%.
Several research firms have recently commented on CSCO. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cisco Systems in a report on Monday, June 11th. Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, May 22nd. BidaskClub downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 19th. Argus lifted their price objective on Cisco Systems to $55.00 and gave the stock a “buy” rating in a report on Friday, May 18th. Finally, Credit Suisse Group set a $41.00 price target on Cisco Systems and gave the company a “hold” rating in a report on Thursday, May 17th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $46.11.
Several institutional investors and hedge funds have recently modified their holdings of the company. Cetera Advisors LLC boosted its position in shares of Cisco Systems by 1.4% in the 1st quarter. Cetera Advisors LLC now owns 78,073 shares of the network equipment provider’s stock worth $3,350,000 after purchasing an additional 1,106 shares in the last quarter. Stellar Capital Management LLC lifted its position in Cisco Systems by 3.4% in the 1st quarter. Stellar Capital Management LLC now owns 33,236 shares of the network equipment provider’s stock valued at $1,426,000 after acquiring an additional 1,107 shares in the last quarter. FCG Advisors LLC lifted its position in Cisco Systems by 7.9% in the 1st quarter. FCG Advisors LLC now owns 15,574 shares of the network equipment provider’s stock valued at $668,000 after acquiring an additional 1,140 shares in the last quarter. Neumann Capital Management LLC lifted its position in Cisco Systems by 6.8% in the 1st quarter. Neumann Capital Management LLC now owns 18,437 shares of the network equipment provider’s stock valued at $791,000 after acquiring an additional 1,167 shares in the last quarter. Finally, Ballast Inc. lifted its position in Cisco Systems by 6.6% in the 1st quarter. Ballast Inc. now owns 18,810 shares of the network equipment provider’s stock valued at $807,000 after acquiring an additional 1,172 shares in the last quarter. 73.76% of the stock is currently owned by hedge funds and other institutional investors.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.