Insider Selling: Carol Bartz Sells 20,000 Shares of Cisco Systems Stock (CSCO)
Cisco Systems (NASDAQ:CSCO) Director Carol Bartz sold 20,000 shares of Cisco Systems stock on the open market in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $24.56, for a total transaction of $491,200.00. Following the sale, the director now directly owns 8,870 shares in the company, valued at approximately $217,847. The transaction was disclosed in a filing with the SEC, which is available at this link.
Cisco Systems (NASDAQ:CSCO) traded up 0.49% during mid-day trading on Friday, hitting $24.83. 39,707,996 shares of the company’s stock traded hands. Cisco Systems has a 52-week low of $20.22 and a 52-week high of $26.49. The stock’s 50-day moving average is $24.1 and its 200-day moving average is $22.65. The company has a market cap of $127.2 billion and a price-to-earnings ratio of 16.67.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.03. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. Analysts expect that Cisco Systems will post $2.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, July 23rd. Stockholders of record on Monday, July 7th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.06%.
CSCO has been the subject of a number of recent research reports. Analysts at Buckingham Research initiated coverage on shares of Cisco Systems in a research note on Thursday. They set a “neutral” rating and a $28.00 price target on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Cisco Systems in a research note on Wednesday. They set an “overweight” rating and a $30.00 price target on the stock. Finally, analysts at Deutsche Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, May 27th. They now have a $30.00 price target on the stock, up previously from $25.00. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $26.28.
Cisco Systems, Inc (NASDAQ:CSCO) designs, manufactures, and sells Internet protocol (IP)-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.