Charles Robbins Sells 171,744 Shares of Cisco Systems, Inc. (NASDAQ:CSCO) Stock

Cisco Systems, Inc. (NASDAQ:CSCO) CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares of the company’s stock, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $57.50 on Thursday. 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, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $59.38. The stock has a market cap of $229.47 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 4.67 and a beta of 0.83. The firm’s fifty day simple moving average is $54.68 and its 200-day simple moving average is $50.00.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping 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 business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. During the same period in the prior year, the company posted $0.98 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Analysts Set New Price Targets

Several research firms recently commented on CSCO. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Piper Sandler upped their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Morgan Stanley upped their price target on shares of Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

Institutional Investors Weigh In On Cisco Systems

A number of large investors have recently added to or reduced their stakes in the business. Aviso Wealth Management grew its stake in Cisco Systems by 2.4% in the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after acquiring an additional 181 shares during the last quarter. Waypoint Capital Advisors LLC grew its stake in Cisco Systems by 2.9% in the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock valued at $346,000 after acquiring an additional 182 shares during the last quarter. Andina Capital Management LLC grew its stake in Cisco Systems by 3.6% in the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after acquiring an additional 182 shares during the last quarter. Wealth Dimensions Group Ltd. grew its stake in Cisco Systems by 1.6% in the 3rd quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider’s stock valued at $605,000 after acquiring an additional 182 shares during the last quarter. Finally, Meridian Financial Partners LLC grew its stake in Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after acquiring an additional 185 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

About Cisco Systems

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.