Cisco Systems, Inc. (NASDAQ:CSCO) Director Sells $449,025.00 in Stock

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) Director Kristina M. Johnson sold 7,500 shares of the business's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the transaction, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Cisco Systems Trading Down 0.2 %

NASDAQ:CSCO traded down $0.13 during mid-day trading on Friday, hitting $59.89. The company had a trading volume of 14,622,229 shares, compared to its average volume of 19,098,172. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.23. The firm has a market cap of $238.53 billion, a P/E ratio of 25.70, a P/E/G ratio of 4.43 and a beta of 0.85. The business's fifty day moving average is $56.40 and its two-hundred day moving average is $50.82.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same period last year, the business posted $0.98 earnings per share. The business's revenue for the quarter was down 5.6% compared to the same quarter last year. As a group, research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.67%. Cisco Systems's dividend payout ratio (DPR) is currently 68.67%.

Hedge Funds Weigh In On Cisco Systems

Institutional investors have recently modified their holdings of the business. Lantz Financial LLC increased its holdings in Cisco Systems by 1.2% during the 2nd quarter. Lantz Financial LLC now owns 60,993 shares of the network equipment provider's stock worth $2,898,000 after purchasing an additional 736 shares in the last quarter. Sax Wealth Advisors LLC grew its holdings in shares of Cisco Systems by 25.3% during the second quarter. Sax Wealth Advisors LLC now owns 7,795 shares of the network equipment provider's stock worth $370,000 after buying an additional 1,575 shares in the last quarter. Hexagon Capital Partners LLC raised its position in Cisco Systems by 3.2% in the 2nd quarter. Hexagon Capital Partners LLC now owns 18,767 shares of the network equipment provider's stock valued at $892,000 after buying an additional 575 shares during the last quarter. Twelve Points Wealth Management LLC lifted its stake in Cisco Systems by 8.8% in the 2nd quarter. Twelve Points Wealth Management LLC now owns 41,710 shares of the network equipment provider's stock valued at $1,982,000 after acquiring an additional 3,370 shares in the last quarter. Finally, Mitchell & Pahl Private Wealth LLC grew its stake in shares of Cisco Systems by 1.1% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 38,269 shares of the network equipment provider's stock worth $1,818,000 after acquiring an additional 423 shares in the last quarter. Institutional investors own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on CSCO shares. Morgan Stanley increased their price target on Cisco Systems from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday, November 14th. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a "neutral" rating in a report on Thursday, August 15th. Jefferies Financial Group cut their price target on Cisco Systems from $56.00 to $53.00 and set a "buy" rating for the company in a report on Thursday, August 15th. UBS Group upped their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a research report on Thursday, November 14th. Finally, Piper Sandler raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $59.94.

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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