Insider Selling: Cisco Systems, Inc. (NASDAQ:CSCO) EVP Sells $3,345,228.12 in Stock

Cisco Systems, Inc. (NASDAQ:CSCO) EVP Deborah L. Stahlkopf sold 58,188 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $3,345,228.12. Following the completion of the sale, the executive vice president now owns 219,100 shares of the company’s stock, valued at approximately $12,596,059. This represents a 20.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cisco Systems Stock Up 0.1 %

Shares of CSCO stock opened at $57.59 on Friday. The company’s fifty day simple moving average is $54.84 and its two-hundred day simple moving average is $50.05. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The stock has a market cap of $229.81 billion, a P/E ratio of 24.71, a PEG ratio of 4.63 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results 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. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Cisco Systems’s revenue was down 5.6% on a year-over-year basis. Analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.78%. Cisco Systems’s payout ratio is 68.67%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CSCO. Summit Securities Group LLC purchased a new position in Cisco Systems during the 2nd quarter worth $25,000. West Financial Advisors LLC increased its stake in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the period. Quarry LP raised its holdings in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems in the third quarter worth about $40,000. Finally, Hobbs Group Advisors LLC purchased a new position in Cisco Systems during the 2nd quarter valued at about $36,000. Institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Bank of America raised their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Piper Sandler upped their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Finally, JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and upped their price target for the company from $55.00 to $66.00 in a research report on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Company Profile

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.