Cisco Systems, Inc. (NASDAQ:CSCO) Director Kristina M. Johnson Sells 2,880 Shares of Stock

Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) Director Kristina M. Johnson sold 2,880 shares of the firm’s stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $49.21, for a total value of $141,724.80. Following the sale, the director now directly owns 65,838 shares in the company, valued at approximately $3,239,887.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $48.91 on Wednesday. The stock has a fifty day moving average price of $48.93 and a 200 day moving average price of $48.35. The stock has a market cap of $200.33 billion, a PE ratio of 17.59, a P/E/G ratio of 2.27 and a beta of 1.00. Cisco Systems, Inc. has a 1 year low of $38.60 and a 1 year high of $52.56. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.27 and a current ratio of 1.39.

Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. Cisco Systems had a return on equity of 31.66% and a net margin of 20.89%. The firm had revenue of $14.57 billion during the quarter, compared to analysts’ expectations of $14.36 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. Cisco Systems’s revenue was up 13.5% on a year-over-year basis. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.33 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Thursday, July 6th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.19%. Cisco Systems’s dividend payout ratio (DPR) is 56.12%.

Hedge Funds Weigh In On Cisco Systems

A number of institutional investors have recently made changes to their positions in the stock. Moneta Group Investment Advisors LLC increased its stake in Cisco Systems by 112,307.0% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 59,519,500 shares of the network equipment provider’s stock valued at $2,835,509,000 after purchasing an additional 59,466,550 shares during the last quarter. Norges Bank acquired a new position in Cisco Systems in the fourth quarter valued at $2,028,781,000. FMR LLC increased its stake in Cisco Systems by 21.4% in the first quarter. FMR LLC now owns 54,468,315 shares of the network equipment provider’s stock valued at $2,847,331,000 after purchasing an additional 9,614,150 shares during the last quarter. Morgan Stanley increased its stake in Cisco Systems by 17.4% in the fourth quarter. Morgan Stanley now owns 61,788,267 shares of the network equipment provider’s stock valued at $2,943,593,000 after purchasing an additional 9,160,347 shares during the last quarter. Finally, Providence Capital Advisors LLC grew its position in Cisco Systems by 5,222.3% during the first quarter. Providence Capital Advisors LLC now owns 7,883,401 shares of the network equipment provider’s stock valued at $150,806,000 after acquiring an additional 7,735,281 shares during the period. 71.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSCO. Morgan Stanley raised their target price on Cisco Systems from $52.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 16th. StockNews.com started coverage on Cisco Systems in a research report on Thursday, May 18th. They set a “buy” rating on the stock. Raymond James lifted their price target on Cisco Systems from $63.00 to $64.00 in a research report on Thursday, May 18th. Piper Sandler cut their price target on Cisco Systems from $53.00 to $51.00 in a research report on Thursday, May 18th. Finally, Wells Fargo & Company lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, February 16th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $56.52.

About Cisco Systems

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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.