Insider Selling: Robert Wayne Lloyd Sells 973,946 Shares of Cisco Systems Stock (CSCO)
Cisco Systems (NASDAQ:CSCO) Insider Robert Wayne Lloyd sold 973,946 shares of the company’s stock on the open market in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $24.39, for a total transaction of $23,754,542.94. Following the sale, the insider now directly owns 349,050 shares in the company. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
CSCO has been the subject of a number of recent research reports. Analysts at Credit Suisse initiated coverage on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Wednesday. They set an “underperform” rating on the stock. Separately, analysts at Lazard Capital Markets reiterated a “neutral” rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Tuesday, September 10th. They now have a $415.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Tuesday, September 10th.
Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $38.14.
Cisco Systems (NASDAQ:CSCO) traded up 1.74% during mid-day trading on Wednesday, hitting $24.795. The stock had a trading volume of 29,524,340 shares. Cisco Systems has a 1-year low of $16.68 and a 1-year high of $26.49. The stock’s 50-day moving average is $24.69 and its 200-day moving average is $23.31. The company has a market cap of $132.9 billion and a price-to-earnings ratio of 13.10.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results 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 $2.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 23rd. Shareholders 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 2.74%. 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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