Maria Victoria Wong Sells 762 Shares of Cisco Systems, Inc. (NASDAQ:CSCO) Stock

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now directly owns 44,155 shares of the company's stock, valued at $2,693,013.45. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Maria Victoria Wong also recently made the following trade(s):

• On Thursday, December 12th, Maria Victoria Wong sold 586 shares of Cisco Systems stock. The shares were sold at an average price of $58.69, for a total value of $34,392.34.

Cisco Systems Trading Down 0.3 %

NASDAQ:CSCO traded down $0.21 during midday trading on Wednesday, reaching $60.46. 18,933,605 shares of the stock traded hands, compared to its average volume of 20,297,693. The stock has a market capitalization of $240.53 billion, a P/E ratio of 26.40, a PEG ratio of 4.16 and a beta of 0.79. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month 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 $61.74 and a 200 day moving average of $57.62.

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

Cisco Systems declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm 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 dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is currently 71.62%.

Hedge Funds Weigh In On Cisco Systems

Institutional investors have recently bought and sold shares of the stock. Pflug Koory LLC increased its stake in shares of 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 boosted its holdings in Cisco Systems by 8.7% in the fourth 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 in the last quarter. Fairhaven Wealth Management LLC increased its holdings in shares of Cisco Systems by 2.3% during 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 in the last quarter. BlackDiamond Wealth Management LLC increased its stake in 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 valued at $335,000 after purchasing an additional 168 shares in the last quarter. Finally, Legacy Financial Group Inc. increased its position 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 in the last quarter. 73.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CSCO. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Piper Sandler reaffirmed a "neutral" rating on shares of Cisco Systems in a report on Thursday, March 6th. Bank of America lifted their target price on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Morgan Stanley raised their price objective 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. Finally, BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price on the stock in a research report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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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