Thimaya K. Subaiya Sells 1,328 Shares of Cisco Systems, Inc. (NASDAQ:CSCO) Stock

Cisco Systems, Inc. (NASDAQ:CSCO) EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Cisco Systems Stock Up 0.4 %

CSCO stock opened at $49.80 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average of $48.05 and a two-hundred day moving average of $47.96. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $56.47. The company has a market cap of $198.74 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The firm had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The company’s revenue was down 10.3% compared to the same quarter last year. As a group, analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a yield of 3.21%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their price objective on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research note on Thursday, August 15th. HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Finally, Barclays reduced their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus target price of $55.89.

Institutional Trading of Cisco Systems

Hedge funds have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. raised its stake in shares of Cisco Systems by 25.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 6,617 shares of the network equipment provider’s stock valued at $314,000 after acquiring an additional 1,358 shares in the last quarter. Brightwater Advisory LLC purchased a new position in shares of Cisco Systems in the 2nd quarter valued at about $245,000. Heritage Wealth Management Inc. acquired a new stake in shares of Cisco Systems during the 2nd quarter worth about $2,954,000. Sanctuary Advisors LLC purchased a new stake in Cisco Systems during the second quarter worth approximately $41,685,000. Finally, Creekside Partners purchased a new stake in Cisco Systems during the second quarter worth approximately $617,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

About Cisco Systems

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.