Insider Selling: Cisco Systems, Inc. (CSCO) Director Sells 15,000 Shares of Stock

Cisco Systems, Inc. (NASDAQ:CSCO) Director Roderick C. Mcgeary sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $49.66, for a total transaction of $744,900.00. Following the completion of the transaction, the director now owns 102,898 shares in the company, valued at $5,109,914.68. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

NASDAQ CSCO traded down $0.22 during midday trading on Thursday, hitting $49.41. The company had a trading volume of 16,025,973 shares, compared to its average volume of 21,479,557. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.80 and a quick ratio of 1.74. The firm has a market capitalization of $239.19 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 2.59 and a beta of 1.16. Cisco Systems, Inc. has a fifty-two week low of $40.19 and a fifty-two week high of $49.93.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.01. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The company had revenue of $12.45 billion for the quarter, compared to analyst estimates of $12.43 billion. During the same period last year, the business posted $0.63 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 2.74 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 13th that allows the company to buyback $15.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to repurchase up to 6.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Friday, April 5th will be given a dividend of $0.35 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, April 4th. Cisco Systems’s payout ratio is 56.41%.

Several institutional investors have recently modified their holdings of CSCO. Bank of New York Mellon Corp lifted its holdings in Cisco Systems by 193,168.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock valued at $5,095,693,000 after purchasing an additional 104,687,754 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Cisco Systems by 3,130.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 68,193,317 shares of the network equipment provider’s stock valued at $1,574,000 after purchasing an additional 66,082,350 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Cisco Systems by 11.2% during the 4th quarter. Geode Capital Management LLC now owns 64,506,078 shares of the network equipment provider’s stock valued at $2,790,865,000 after purchasing an additional 6,516,314 shares during the last quarter. Northern Trust Corp lifted its holdings in Cisco Systems by 1.3% during the 4th quarter. Northern Trust Corp now owns 63,754,084 shares of the network equipment provider’s stock valued at $2,762,464,000 after purchasing an additional 813,544 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in Cisco Systems by 15.9% during the 2nd quarter. Morgan Stanley now owns 50,957,358 shares of the network equipment provider’s stock valued at $2,192,694,000 after purchasing an additional 7,009,359 shares during the last quarter. Institutional investors and hedge funds own 68.78% of the company’s stock.

A number of research analysts recently issued reports on CSCO shares. Credit Suisse Group set a $44.00 target price on shares of Cisco Systems and gave the company a “hold” rating in a research note on Wednesday, January 16th. Deutsche Bank raised their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Thursday, November 15th. Raymond James raised their target price on shares of Cisco Systems from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 15th. Wells Fargo & Co reiterated an “outperform” rating and issued a $57.00 target price (up from $52.00) on shares of Cisco Systems in a research note on Wednesday, February 13th. Finally, Argus reiterated a “buy” rating and issued a $55.00 target price on shares of Cisco Systems in a research note on Tuesday, January 15th. Seven equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $53.36.

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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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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