Insider Selling: Cisco Systems, Inc. (NASDAQ:CSCO) CFO Sells $1,027,222.56 in Stock

Cisco Systems, Inc. (NASDAQ:CSCO) CFO Richard Scott Herren sold 15,678 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer now owns 309,543 shares of the company’s stock, valued at $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $66.32 on Monday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.65. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The firm has a market capitalization of $262.63 billion, a P/E ratio of 27.07, a price-to-earnings-growth ratio of 3.97 and a beta of 0.88. The stock’s fifty day moving average is $61.38 and its two-hundred day moving average is $60.80.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. On average, research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s payout ratio is 66.94%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CSCO shares. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price objective for the company from $65.00 to $73.00 in a research report on Monday, June 16th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Wall Street Zen upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. JPMorgan Chase & Co. raised their target price on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. Finally, Barclays restated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and an average price target of $69.11.

Institutional Trading of Cisco Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Mainstream Capital Management LLC acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $132,000. Proficio Capital Partners LLC increased its stake in Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after purchasing an additional 7,338 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Cisco Systems by 28.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,037,909 shares of the network equipment provider’s stock worth $249,180,000 after purchasing an additional 904,548 shares during the period. Investment Management Corp of Ontario increased its stake in Cisco Systems by 44.6% during the fourth quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider’s stock worth $11,454,000 after purchasing an additional 59,680 shares during the period. Finally, AlTi Global Inc. increased its stake in Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider’s stock worth $1,217,000 after purchasing an additional 6,811 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.