Cisco Systems Target of Unusually Large Options Trading (CSCO)
Cisco Systems, Inc. (NASDAQ:CSCO) saw some unusual options trading activity on Monday. Stock traders bought 16,510 put options on the stock. This represents an increase of approximately 117% compared to the average volume of 7,614 put options.
In related news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the sale, the insider now owns 729,305 shares in the company, valued at $22,710,557.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the sale, the chief accounting officer now owns 119,996 shares in the company, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 485,138 shares of company stock worth $15,347,574. 0.11% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares during the period. Nordea Investment Management AB boosted its holdings in Cisco Systems by 12.1% in the second quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock worth $982,703,000 after purchasing an additional 3,384,768 shares during the period. Boston Partners boosted its holdings in Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after purchasing an additional 23,002,159 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Cisco Systems by 11.6% in the second quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock worth $862,949,000 after purchasing an additional 2,863,474 shares during the period. Finally, LSV Asset Management boosted its holdings in Cisco Systems by 0.5% in the second quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock worth $859,293,000 after purchasing an additional 134,162 shares during the period. 75.37% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems (NASDAQ CSCO) opened at 32.60 on Thursday. The firm has a market cap of $161.43 billion, a PE ratio of 17.16 and a beta of 1.19. The firm’s 50-day moving average is $31.72 and its 200 day moving average is $32.41. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. The firm had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. Equities research analysts predict that Cisco Systems will post $2.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is presently 60.73%.
Several brokerages have recently issued reports on CSCO. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $36.00 target price on shares of Cisco Systems in a research report on Monday, June 26th. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 target price on the stock in a research report on Wednesday, September 6th. Robert W. Baird reiterated a “buy” rating and issued a $38.00 target price on shares of Cisco Systems in a research report on Monday, September 11th. Drexel Hamilton reiterated a “buy” rating and issued a $39.00 target price on shares of Cisco Systems in a research report on Sunday, June 25th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research report on Thursday, August 17th. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and an average target price of $35.57.
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Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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