Insider Selling: Cisco Systems (NASDAQ:CSCO) CEO Sells $1,485,420.00 in Stock

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report) CEO Charles Robbins sold 19,545 shares of the business’s stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $76.00, for a total transaction of $1,485,420.00. Following the completion of the transaction, the chief executive officer owned 671,095 shares in the company, valued at $51,003,220. The trade was a 2.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Cisco Systems Stock Up 0.5%

NASDAQ CSCO opened at $78.56 on Friday. Cisco Systems, Inc. has a 1 year low of $52.11 and a 1 year high of $88.18. The stock has a market capitalization of $310.30 billion, a PE ratio of 27.57, a PEG ratio of 2.95 and a beta of 0.87. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85. The business’s 50-day moving average is $77.68 and its 200 day moving average is $73.34.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, beating 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 return on equity of 27.88% and a net margin of 19.22%.Cisco Systems’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.94 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Thursday, April 2nd will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.1%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. The ex-dividend date is Thursday, April 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 57.54%.

Cisco Systems News Summary

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CSCO. Piper Sandler lifted their target price on shares of Cisco Systems from $70.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, November 13th. Morgan Stanley raised their price objective on shares of Cisco Systems from $82.00 to $91.00 and gave the stock an “overweight” rating in a report on Wednesday, December 17th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Citic Securities raised their target price on Cisco Systems from $75.00 to $90.00 in a research note on Monday, November 17th. Finally, Bank of America lifted their price target on Cisco Systems from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.55.

Get Our Latest Analysis on Cisco Systems

Institutional Investors Weigh In On Cisco Systems

Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Cisco Systems by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 398,943,293 shares of the network equipment provider’s stock valued at $30,730,602,000 after purchasing an additional 4,049,893 shares during the last quarter. State Street Corp lifted its stake in shares of Cisco Systems by 0.5% in the fourth quarter. State Street Corp now owns 195,521,161 shares of the network equipment provider’s stock worth $15,060,995,000 after buying an additional 1,057,962 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Cisco Systems by 1.2% during the second quarter. Geode Capital Management LLC now owns 99,252,395 shares of the network equipment provider’s stock valued at $6,864,058,000 after buying an additional 1,157,704 shares during the last quarter. Morgan Stanley increased its position in shares of Cisco Systems by 0.3% during the fourth quarter. Morgan Stanley now owns 75,326,258 shares of the network equipment provider’s stock valued at $5,802,382,000 after acquiring an additional 206,352 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Cisco Systems by 11.6% in the 4th quarter. Invesco Ltd. now owns 59,836,782 shares of the network equipment provider’s stock worth $4,609,227,000 after acquiring an additional 6,224,062 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

About Cisco Systems

(Get Free Report)

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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