Investors Purchase Large Volume of Cisco Systems Call Options (CSCO)
Shares of Cisco Systems (NASDAQ:CSCO) saw unusually large options trading activity on Friday. Traders purchased 64,536 call options on the stock, Stock Ratings Network.com reports. This represents an increase of 201% compared to the average volume of 21,413 call options.
In other Cisco Systems news, 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 of the company’s stock, valued at approximately $8,513,330. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on CSCO shares. Analysts at Zacks reiterated a “neutral” rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Friday. They now have a $25.00 price target on the stock. Separately, analysts at Cantor Fitzgerald reiterated a “buy” rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Friday. They now have a $29.50 price target on the stock. Finally, analysts at Northland Securities raised their price target on shares of Cisco Systems (NASDAQ:CSCO) from $50.00 to $58.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.49.
Cisco Systems (NASDAQ:CSCO) traded down 1.85% on Friday, hitting $23.33. 82,453,456 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’s 50-day moving average is $24.37 and its 200-day moving average is $23.43. The company has a market cap of $125.1 billion and a price-to-earnings ratio of 12.78.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly 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 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. Stockholders 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 2.91%. 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.