Cisco Systems, Inc. (NASDAQ:CSCO) CEO Sells $1,924,344.24 in Stock

Cisco Systems, Inc. (NASDAQ:CSCO) CEO Charles Robbins sold 29,784 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the sale, the chief executive officer now directly owns 688,409 shares in the company, valued at approximately $44,478,105.49. This represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Cisco Systems Stock Up 2.2%

CSCO opened at $66.06 on Monday. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The company has a fifty day moving average of $59.61 and a two-hundred day moving average of $60.38. The stock has a market capitalization of $261.60 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. The business had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.88 earnings per share. On average, research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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 paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.48%. Cisco Systems’s dividend payout ratio is presently 66.94%.

Institutional Trading of Cisco Systems

Several large investors have recently bought and sold shares of the business. FPC Investment Advisory Inc. acquired a new position in Cisco Systems in the 4th quarter valued at about $26,000. Navigoe LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. JDM Financial Group LLC increased its position in shares of Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems in the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, May 15th. Rosenblatt Securities raised their price target on shares of Cisco Systems from $63.00 to $74.00 and gave the company a “buy” rating in a report on Thursday, May 15th. The Goldman Sachs Group increased their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, Wall Street Zen raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $68.00.

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.