Cisco Systems, Inc. (NASDAQ:CSCO) CFO Richard Scott Herren Sells 15,678 Shares

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the sale, the chief financial officer now owns 309,543 shares of the company's stock, valued at approximately $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Cisco Systems Stock Up 0.7%

Shares of NASDAQ:CSCO traded up $0.48 during trading on Friday, hitting $66.32. 50,354,241 shares of the company's stock traded hands, compared to its average volume of 20,278,215. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.63. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The company has a market cap of $262.63 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 3.94 and a beta of 0.88. The company has a 50-day moving average price of $61.20 and a 200-day moving average price of $60.74.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the previous year, the business posted $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $65.00 to $73.00 in a research report on Monday. Rosenblatt Securities lifted their price objective on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Citigroup lifted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and a consensus price target of $69.11.

Hedge Funds Weigh In On Cisco Systems

Several institutional investors have recently modified their holdings of CSCO. FPC Investment Advisory Inc. bought a new stake in Cisco Systems in the 4th quarter valued at approximately $26,000. Navigoe LLC bought a new stake in Cisco Systems in the 4th quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems in the 4th quarter valued at approximately $26,000. JDM Financial Group LLC lifted its stake in Cisco Systems by 160.4% in the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems in the 4th quarter valued at approximately $30,000. Institutional investors 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.

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