Cisco Systems, Inc. (NASDAQ:CSCO) EVP Sells $125,345.50 in Stock

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Cisco Systems Stock Down 0.3 %

Shares of NASDAQ CSCO traded down $0.21 during mid-day trading on Wednesday, hitting $60.46. The company had a trading volume of 18,933,605 shares, compared to its average volume of 20,297,693. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $66.50. The company has a market capitalization of $240.53 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The firm has a 50-day simple moving average of $61.74 and a two-hundred day simple moving average of $57.62.

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

Cisco Systems Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.71%. The ex-dividend date is Thursday, April 3rd. Cisco Systems's dividend payout ratio is 71.62%.

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Cisco Systems declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Northstar Financial Companies Inc. bought a new position in Cisco Systems during the fourth quarter worth about $699,000. Lighthouse Financial LLC bought a new position in shares of Cisco Systems during the 4th quarter worth approximately $261,000. Old North State Trust LLC increased its holdings in shares of Cisco Systems by 1.8% during the 4th quarter. Old North State Trust LLC now owns 24,383 shares of the network equipment provider's stock worth $1,443,000 after acquiring an additional 438 shares during the last quarter. Wood Tarver Financial Group LLC bought a new stake in Cisco Systems in the 4th quarter valued at $125,000. Finally, TFR Capital LLC. acquired a new stake in Cisco Systems during the 4th quarter valued at $213,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wells Fargo & Company reiterated an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Morgan Stanley increased their target price on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an "overweight" rating in a report on Tuesday, December 17th. Rosenblatt Securities raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $66.00 to $80.00 in a research report on Thursday, February 13th. Piper Sandler restated a "neutral" rating on shares of Cisco Systems in a research report on Thursday, March 6th. Finally, Melius Research upgraded Cisco Systems from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $66.63.

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.

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