Cisco Systems COO Sells $1,684,682 in Stock (CSCO)
Cisco Systems (NASDAQ:CSCO) COO Gary Moore sold 69,357 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $24.29, for a total transaction of $1,684,681.53. Following the completion of the sale, the chief operating officer now directly owns 565,941 shares of the company’s stock. The transaction was disclosed in a filing 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 equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and an average target price of $37.75.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.12% on Friday, hitting $24.32. 18,512,274 shares of the company’s stock traded hands. Cisco Systems has a 52-week low of $16.68 and a 52-week high of $26.49. The stock has a 50-day moving average of $24.75 and a 200-day moving average of $23.22. The company has a market cap of $130.5 billion and a price-to-earnings ratio of 13.06.
Cisco Systems (NASDAQ:CSCO) last released its earnings data on Wednesday, August 14th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the 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 last year, the company posted $0.47 earnings per share. Cisco Systems’s revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Cisco Systems will post $2.10 earnings per share 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 2.80%. 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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