Cisco Systems Target of Unusually High Options Trading (CSCO)
Cisco Systems (NASDAQ:CSCO) was the recipient of some unusual options trading on Thursday. Stock traders bought 52,249 call options on the stock, StockRatingsNetwork reports. This represents an increase of 168% compared to the average daily volume of 19,471 call options.
In other Cisco Systems news, Insider Robert Wayne Lloyd unloaded 973,946 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $24.39, for a total value of $23,754,542.94. Following the sale, the insider now directly owns 349,050 shares of the company’s stock, valued at approximately $8,513,330. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Tuesday. Separately, analysts at Cantor Fitzgerald initiated coverage on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Thursday, September 19th. They set a “buy” rating and a $29.50 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Wednesday, September 18th. They set an “underperform” rating and a $21.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and a consensus target price of $37.93.
Shares of Cisco Systems (NASDAQ:CSCO) traded down 2.70% during mid-day trading on Thursday, hitting $23.77. 54,577,912 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 $24.43 and a 200-day moving average of $23.43. The company has a market cap of $127.4 billion and a P/E ratio of 13.13.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results 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 in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. On average, analysts predict that Cisco Systems will post $2.09 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 2.86%. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.