Cisco Systems Director Carol Bartz Unloads 20,000 Shares (CSCO)
Cisco Systems (NASDAQ:CSCO) Director Carol Bartz sold 20,000 shares of the stock on the open market in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $23.92, for a total value of $478,400.00. Following the transaction, the director now directly owns 10,590 shares of the company’s stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on CSCO. Analysts at Lazard Capital Markets reiterated a “neutral” rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Tuesday. They now have a $415.00 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Tuesday. Finally, analysts at Thomson Reuters/Verus downgraded shares of Cisco Systems (NASDAQ:CSCO) from a “buy” rating to a “hold” rating in a research note to investors on Monday, September 2nd.
One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $37.75.
Cisco Systems (NASDAQ:CSCO) traded up 0.91% during mid-day trading on Wednesday, hitting $24.375. The stock had a trading volume of 25,154,460 shares. Cisco Systems has a 52-week low of $16.68 and a 52-week high of $26.49. The stock’s 50-day moving average is $24.86 and its 200-day moving average is $23.18. The company has a market cap of $130.8 billion and a P/E ratio of 12.99.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.51 by $0.01. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $12.40 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts expect that Cisco Systems will post $2.12 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 23rd. Investors of record on Thursday, October 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Tuesday, October 1st.
Cisco Systems, Inc designs, manufactures, and sells Internet protocol (NASDAQ:CSCO)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.
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