Cisco Systems, Inc. (NASDAQ:CSCO) CEO Charles Robbins Sells 29,784 Shares

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) CEO Charles Robbins sold 29,784 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the transaction, the chief executive officer now directly owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cisco Systems Stock Up 2.2%

Cisco Systems stock traded up $1.44 during midday trading on Friday, reaching $66.06. The stock had a trading volume of 20,912,594 shares, compared to its average volume of 20,116,619. The company has a fifty day moving average price of $59.52 and a two-hundred day moving average price of $60.27. The company has a market capitalization of $261.60 billion, a P/E ratio of 28.85, a PEG ratio of 4.16 and a beta of 0.88. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company's quarterly revenue was up 11.4% on a year-over-year basis. As a group, equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.48%. Cisco Systems's payout ratio is 66.94%.

Cisco Systems announced that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have recently issued reports on CSCO shares. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Citigroup boosted their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Rosenblatt Securities raised their price objective on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, Wall Street Zen raised shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Institutional Investors Weigh In On Cisco Systems

Hedge funds and other institutional investors have recently made changes to their positions in the business. FPC Investment Advisory Inc. bought a new stake in Cisco Systems during the 4th quarter worth approximately $26,000. Navigoe LLC purchased a new position in shares of Cisco Systems during the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the fourth quarter worth $26,000. JDM Financial Group LLC grew its holdings in 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 buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in Cisco Systems during the 4th quarter valued at $30,000. 73.33% of the stock is owned by institutional investors.

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.

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