Cisco Systems (NASDAQ:CSCO) Trading Down 0.4% After Insider Selling

Cisco Systems, Inc. (NASDAQ:CSCO) fell 0.4% during trading on Wednesday following insider selling activity. The company traded as low as $60.33 and last traded at $60.43. 4,025,259 shares changed hands during trading, a decline of 80% from the average session volume of 19,957,496 shares. The stock had previously closed at $60.67.

Specifically, EVP Thimaya K. Subaiya sold 2,065 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. The trade was a 1.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in 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 restated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Citigroup reiterated an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their price objective on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Trading Up 1.0 %

The firm’s fifty day moving average price is $61.75 and its two-hundred day moving average price is $57.63. The stock has a market cap of $239.68 billion, a P/E ratio of 26.31, a PEG ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) 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%. As a group, equities research analysts forecast 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 given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. 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 2.72%. Cisco Systems’s payout ratio is 71.62%.

Cisco Systems announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Cisco Systems

Institutional investors have recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems during the fourth quarter valued at about $26,000. Navigoe LLC purchased a new stake in Cisco Systems during the fourth quarter valued at about $26,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $26,000. JDM Financial Group LLC boosted its holdings in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after purchasing an additional 300 shares during the period. Finally, Runnymede Capital Advisors Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $30,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

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.