Jeetendra Patel Sells 11,248 Shares of Cisco Systems (NASDAQ:CSCO) Stock

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report) insider Jeetendra Patel sold 11,248 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $854,848.00. Following the completion of the transaction, the insider owned 262,776 shares in the company, valued at approximately $19,970,976. This trade represents a 4.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cisco Systems Stock Up 1.7%

NASDAQ CSCO opened at $78.18 on Thursday. The business has a fifty day moving average price of $77.70 and a 200 day moving average price of $73.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The company has a market cap of $308.90 billion, a P/E ratio of 27.43, a P/E/G ratio of 2.92 and a beta of 0.87. Cisco Systems, Inc. has a one year low of $52.11 and a one year high of $88.18.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $15.35 billion during the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.94 earnings per share. Research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be paid a $0.42 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a yield of 2.1%. Cisco Systems’s dividend payout ratio is 57.54%.

Cisco Systems News Summary

Here are the key news stories impacting Cisco Systems this week:

Institutional Trading of Cisco Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSCO. Smithfield Trust Co increased its stake in Cisco Systems by 0.3% during the fourth quarter. Smithfield Trust Co now owns 33,666 shares of the network equipment provider’s stock worth $2,596,000 after purchasing an additional 117 shares during the period. Main Management ETF Advisors LLC grew its holdings in shares of Cisco Systems by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 12,528 shares of the network equipment provider’s stock valued at $965,000 after purchasing an additional 128 shares in the last quarter. First Commonwealth Financial Corp PA grew its holdings in shares of Cisco Systems by 0.9% in the fourth quarter. First Commonwealth Financial Corp PA now owns 13,656 shares of the network equipment provider’s stock valued at $1,052,000 after purchasing an additional 128 shares in the last quarter. Cairn Investment Group Inc. increased its stake in Cisco Systems by 0.5% during the 4th quarter. Cairn Investment Group Inc. now owns 24,146 shares of the network equipment provider’s stock worth $1,860,000 after buying an additional 130 shares during the period. Finally, Juncture Wealth Strategies LLC lifted its holdings in Cisco Systems by 0.9% during the 4th quarter. Juncture Wealth Strategies LLC now owns 15,042 shares of the network equipment provider’s stock worth $1,159,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent research reports. HSBC boosted their price objective on Cisco Systems from $74.00 to $77.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. Rosenblatt Securities reissued a “buy” rating and set a $100.00 price target on shares of Cisco Systems in a research report on Thursday, February 12th. Bank of America raised their price objective on shares of Cisco Systems from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Citic Securities lifted their target price on shares of Cisco Systems from $75.00 to $90.00 in a research note on Monday, November 17th. Finally, Barclays increased their price target on shares of Cisco Systems from $71.00 to $76.00 and gave the company an “equal weight” rating in a research note on Thursday, November 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $89.55.

Read Our Latest Stock Report on Cisco Systems

About Cisco Systems

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Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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Insider Buying and Selling by Quarter for Cisco Systems (NASDAQ:CSCO)

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