Cisco Systems EVP Sells $121,450 in Stock (CSCO)
Cisco Systems (NASDAQ:CSCO) EVP Wim Elfrink sold 5,000 shares of the stock on the open market in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $24.29, for a total value of $121,450.00. Following the completion of the sale, the executive vice president now directly owns 244,333 shares in the company. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. 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 company’s stock. The stock has a consensus rating of “Buy” and an average price target of $37.75.
Cisco Systems (NASDAQ:CSCO) traded up 0.12% during mid-day trading on Friday, hitting $24.32. The stock had a trading volume of 18,512,274 shares. Cisco Systems has a one year low of $16.68 and a one year high of $26.49. The stock’s 50-day moving average is $24.75 and its 200-day moving average is $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 posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.52 earnings per share for the quarter, beating the analysts’ 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 announced a quarterly dividend, which is scheduled for Wednesday, October 23rd. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.80%. The ex-dividend date 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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