Investors Buy Shares of Cisco Systems (CSCO) on Weakness

Investors purchased shares of Cisco Systems, Inc. (NASDAQ:CSCO) on weakness during trading on Tuesday. $268.37 million flowed into the stock on the tick-up and $148.84 million flowed out of the stock on the tick-down, for a money net flow of $119.53 million into the stock. Of all companies tracked, Cisco Systems had the 6th highest net in-flow for the day. Cisco Systems traded down ($1.26) for the day and closed at $44.49

Several analysts have recently commented on CSCO shares. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Tuesday, July 24th. BidaskClub upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, August 10th. Goldman Sachs Group restated a “buy” rating and set a $56.00 price objective on shares of Cisco Systems in a research report on Thursday, August 16th. BMO Capital Markets raised their price objective on shares of Cisco Systems from $43.00 to $48.00 and gave the company a “market perform” rating in a research report on Thursday, August 16th. Finally, William Blair restated an “outperform” rating on shares of Cisco Systems in a research report on Thursday, August 16th. Seven investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $49.49.

The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.05 and a current ratio of 2.11. The firm has a market cap of $220.40 billion, a PE ratio of 19.01, a price-to-earnings-growth ratio of 2.68 and a beta of 1.11.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.03. The company had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.86 billion. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. Cisco Systems’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 2.7 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were issued a $0.33 dividend. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.32 dividend on an annualized basis and a yield of 2.97%. Cisco Systems’s dividend payout ratio is currently 56.41%.

In other Cisco Systems news, EVP David Goeckeler sold 63,050 shares of Cisco Systems stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $47.57, for a total value of $2,999,288.50. Following the sale, the executive vice president now directly owns 547,019 shares in the company, valued at approximately $26,021,693.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Charles Robbins sold 217,420 shares of Cisco Systems stock in a transaction on Monday, September 17th. The shares were sold at an average price of $47.28, for a total transaction of $10,279,617.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 450,620 shares of company stock worth $21,322,282. 0.03% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of CSCO. HC Financial Advisors Inc. purchased a new position in shares of Cisco Systems in the 4th quarter worth $1,244,000. Financial Gravity Wealth Inc. purchased a new position in shares of Cisco Systems in the 1st quarter worth $502,000. BlackRock Inc. grew its stake in shares of Cisco Systems by 1.1% in the 1st quarter. BlackRock Inc. now owns 339,004,547 shares of the network equipment provider’s stock worth $14,539,904,000 after buying an additional 3,630,488 shares in the last quarter. Canandaigua National Bank & Trust Co. grew its stake in shares of Cisco Systems by 26.0% in the 1st quarter. Canandaigua National Bank & Trust Co. now owns 89,038 shares of the network equipment provider’s stock worth $3,819,000 after buying an additional 18,388 shares in the last quarter. Finally, Federated Investors Inc. PA grew its stake in shares of Cisco Systems by 83.3% in the 1st quarter. Federated Investors Inc. PA now owns 1,763,002 shares of the network equipment provider’s stock worth $75,615,000 after buying an additional 801,311 shares in the last quarter. 70.28% of the stock is owned by institutional investors and hedge funds.

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About Cisco Systems (NASDAQ:CSCO)

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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