Charles Robbins Sells 31,983 Shares of Cisco Systems, Inc. (NASDAQ:CSCO) Stock

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) CEO Charles Robbins sold 31,983 shares of the business's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. The trade was a 4.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Cisco Systems Stock Down 1.1 %

Shares of NASDAQ:CSCO traded down $0.69 during trading on Friday, hitting $63.98. The company's stock had a trading volume of 18,681,462 shares, compared to its average volume of 19,497,584. The stock's 50-day moving average price is $60.55 and its two-hundred day moving average price is $56.01. 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 market capitalization of $254.53 billion, a PE ratio of 27.94, a PEG ratio of 4.17 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems's payout ratio is presently 71.62%.

Cisco Systems declared that its board has authorized a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CSCO. Pflug Koory LLC grew its position in Cisco Systems by 0.5% during the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock valued at $1,955,000 after purchasing an additional 165 shares in the last quarter. Glass Jacobson Investment Advisors llc lifted its position in shares of Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after acquiring an additional 166 shares during the period. Fairhaven Wealth Management LLC increased its stake in Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock valued at $449,000 after acquiring an additional 167 shares during the period. BlackDiamond Wealth Management LLC lifted its position in shares of Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after buying an additional 168 shares during the period. Finally, Legacy Financial Group Inc. lifted its holdings in shares of Cisco Systems by 3.4% during the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after acquiring an additional 169 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CSCO shares. JPMorgan Chase & Co. raised their price target on Cisco Systems from $69.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. UBS Group boosted their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Melius Research raised shares of Cisco Systems from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Wells Fargo & Company upped their price target on Cisco Systems from $60.00 to $72.00 and gave the company an "equal weight" rating in a report on Thursday, February 13th. Finally, StockNews.com raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and an average price target of $66.53.

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 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.