Sen. Marco Rubio Sells Cisco Systems, Inc. (NASDAQ:CSCO) Shares

Senator Marco Rubio (R-Florida) recently sold shares of Cisco Systems, Inc. (NASDAQ:CSCO). In a filing disclosed on February 06th, the Senator disclosed that they had sold between $1,001 and $15,000 in Cisco Systems stock on January 7th.

Senator Marco Rubio also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Coca-Cola (NYSE:KO) on 1/7/2025.

Cisco Systems Stock Performance

CSCO opened at $62.27 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.91. The firm has a market capitalization of $248.01 billion, a PE ratio of 26.73, a PEG ratio of 4.51 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The business’s 50-day simple moving average is $59.59 and its 200 day simple moving average is $54.82.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the business posted $0.98 EPS. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a $0.40 dividend. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.57%. Cisco Systems’s dividend payout ratio (DPR) is 68.67%.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of recent research reports. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Barclays boosted their price target on Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the stock from $66.00 to $73.00 in a research note on Monday, January 6th. BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Tuesday, January 28th. Finally, StockNews.com raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $62.72.

Institutional Trading of Cisco Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSCO. State Street Corp increased its holdings in Cisco Systems by 1.7% in the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after acquiring an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after acquiring an additional 1,677,383 shares in the last quarter. FMR LLC raised its holdings in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Finally, Nordea Investment Management AB grew its stake in shares of Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after buying an additional 216,632 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Buying and Selling

In related news, EVP Thimaya K. Subaiya sold 21,230 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Scott Herren sold 86,351 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now directly owns 365,314 shares of the company’s stock, valued at $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 353,522 shares of company stock worth $20,349,721 in the last ninety days. Corporate insiders own 0.01% of the company’s stock.

About Senator Rubio

Marco Rubio (Republican Party) is a member of the U.S. Senate from Florida. He assumed office on January 3, 2011. His current term ends on January 3, 2029. Rubio (Republican Party) ran for re-election to the U.S. Senate to represent Florida. He won in the general election on November 8, 2022. Rubio was first elected to the Senate in 2010 to replace retiring incumbent Mel Martinez (R). In the general election, Rubio defeated Kendrick B. Meek (D) and Gov. Charlie Crist (I). Crist had been running in the Republican primary against Rubio but dropped out to run as an independent after polling showed Rubio in the lead. In April 2015, Rubio announced that he was running for president of the United States in 2016 and said he would not seek re-election to his Senate seat in 2016. Rubio dropped out of the presidential election in March 2016 after coming in second to Donald Trump in the Florida Republican primary. In June, Rubio announced that he would seek re-election to his Senate seat. He won re-election with 52 percent of the vote. He previously was a member of the Florida House of Representatives from 2000 to 2008, serving as majority leader from 2003 to 2006 and House speaker from 2006 to 2008. Before serving in the state House, Rubio was a member of the West Miami City Commission. Rubio’s parents immigrated to the United States from Cuba in 1956. On May 18, 2020, Senate Majority Leader Mitch McConnell (R) announced Rubio as the interim chairman of the Senate Intelligence Committee. Rubio replaced Senator Richard Burr (R) who stepped down from the position on May 15, 2020, due to a pending federal investigation. As of a 2014 analysis of multiple outside rankings, Rubio is an average Republican member of Congress, meaning he will vote with the Republican Party on the majority of bills. Born to a family of Cuban immigrants, Rubio was raised in Miami, FL, and Las Vegas, NV. He attended South Miami Senior High School and graduated in 1989. He then attended Tarkio College for one year on a football scholarship from 1989 to 1990, before enrolling at Santa Fe Community College (later renamed Santa Fe College). He earned a B.S. degree from the University of Florida in 1993 and his J.D. degree cum laude from the University of Miami School of Law in 1996.

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.