Stock Traders Buy High Volume of Cisco Systems Call Options (CSCO)
Cisco Systems (NASDAQ:CSCO) saw some unusual options trading on Monday. Stock traders purchased 131,766 call options on the stock, Analyst Ratings.Net reports. This is an increase of 390% compared to the typical volume of 26,883 call options.
In other Cisco Systems news, Insider Robert Wayne Lloyd sold 973,946 shares of the stock on the open market in a transaction dated Monday, September 16th. The stock was sold at an average price of $24.39, for a total transaction of $23,754,542.94. Following the transaction, the insider now directly owns 349,050 shares in the company, valued at approximately $8,513,330. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. 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 equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Cisco Systems has an average rating of “Buy” and an average target price of $39.49.
Cisco Systems (NASDAQ:CSCO) traded up 0.43% during mid-day trading on Monday, hitting $23.431. The stock had a trading volume of 40,244,272 shares. Cisco Systems has a 1-year low of $16.68 and a 1-year high of $26.49. The stock has a 50-day moving average of $24.28 and a 200-day moving average of $23.44. The company has a market cap of $125.6 billion and a P/E ratio of 12.54.
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 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. Analysts expect that Cisco Systems will post $2.10 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 23rd. Stockholders 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 2.90%. 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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