Prat Bhatt Sells 468 Shares of Cisco Systems, Inc. (NASDAQ:CSCO) Stock
Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) SVP Prat Bhatt sold 468 shares of the business’s stock in a transaction dated Tuesday, December 13th. The stock was sold at an average price of $50.10, for a total value of $23,446.80. Following the transaction, the senior vice president now owns 55,230 shares in the company, valued at approximately $2,767,023. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Prat Bhatt also recently made the following trade(s):
- On Monday, November 21st, Prat Bhatt sold 9,752 shares of Cisco Systems stock. The stock was sold at an average price of $47.80, for a total value of $466,145.60.
Cisco Systems Stock Up 0.7 %
Cisco Systems stock traded up $0.34 during midday trading on Tuesday, hitting $49.64. The stock had a trading volume of 22,637,634 shares, compared to its average volume of 21,381,752. The company has a current ratio of 1.45, a quick ratio of 1.34 and a debt-to-equity ratio of 0.19. The stock has a market cap of $203.96 billion, a P/E ratio of 17.92, a P/E/G ratio of 2.36 and a beta of 1.00. Cisco Systems, Inc. has a 12 month low of $38.60 and a 12 month high of $64.29. The business has a fifty day moving average price of $45.21 and a 200 day moving average price of $44.56.
Cisco Systems (NASDAQ:CSCO – Get Rating) last announced its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.04. The firm had revenue of $13.63 billion during the quarter, compared to analyst estimates of $13.29 billion. Cisco Systems had a return on equity of 31.68% and a net margin of 22.00%. Cisco Systems’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.73 earnings per share. Research analysts predict that Cisco Systems, Inc. will post 3.16 EPS for the current year.
Cisco Systems Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Thursday, January 5th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Wednesday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 54.87%.
Hedge Funds Weigh In On Cisco Systems
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Cisco Systems by 8.9% in the 1st quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock worth $20,568,578,000 after buying an additional 30,181,146 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in Cisco Systems in the 3rd quarter worth approximately $246,529,000. Renaissance Technologies LLC grew its holdings in Cisco Systems by 4,090.1% in the 2nd quarter. Renaissance Technologies LLC now owns 5,359,105 shares of the network equipment provider’s stock worth $228,512,000 after buying an additional 5,231,205 shares in the last quarter. Federated Hermes Inc. grew its holdings in Cisco Systems by 3,370.0% in the 2nd quarter. Federated Hermes Inc. now owns 5,371,625 shares of the network equipment provider’s stock worth $229,047,000 after buying an additional 5,216,825 shares in the last quarter. Finally, National Bank of Canada FI grew its holdings in Cisco Systems by 265.5% in the 3rd quarter. National Bank of Canada FI now owns 6,320,850 shares of the network equipment provider’s stock worth $253,082,000 after buying an additional 4,591,715 shares in the last quarter. 71.71% of the stock is owned by institutional investors.
Analysts Set New Price Targets
CSCO has been the topic of a number of recent research reports. KGI Securities upgraded Cisco Systems from a “neutral” rating to an “outperform” rating in a research note on Wednesday, August 31st. Jefferies Financial Group boosted their price objective on Cisco Systems from $52.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. Morgan Stanley boosted their price target on Cisco Systems from $48.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Tuesday. StockNews.com upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 18th. Finally, Evercore ISI boosted their price target on Cisco Systems from $50.00 to $56.00 and gave the stock an “outperform” rating in a research note on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $53.84.
Cisco Systems Company Profile
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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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