Jeetendra I. Patel Sells 899 Shares of Cisco Systems, Inc. (NASDAQ:CSCO) Stock

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) insider Jeetendra I. Patel sold 899 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total value of $57,778.73. Following the sale, the insider now directly owns 255,377 shares in the company, valued at $16,413,079.79. This trade represents a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Cisco Systems Trading Down 1.6%

Shares of NASDAQ:CSCO traded down $1.01 during trading on Friday, hitting $64.09. 14,627,863 shares of the company's stock were exchanged, compared to its average volume of 20,126,267. The firm has a 50-day moving average price of $60.25 and a two-hundred day moving average price of $60.53. 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 1-year low of $44.50 and a 1-year high of $66.50. The firm has a market cap of $253.80 billion, a P/E ratio of 27.99, a PEG ratio of 4.16 and a beta of 0.88.

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

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Institutional Trading of Cisco Systems

Several hedge funds and other institutional investors have recently modified their holdings of CSCO. Mainstream Capital Management LLC bought a new position in Cisco Systems in the fourth quarter valued at $132,000. Proficio Capital Partners LLC boosted its stake in shares of Cisco Systems by 76.4% during the 4th quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock worth $1,003,000 after buying an additional 7,338 shares during the last quarter. Investment Management Corp of Ontario grew its holdings in shares of Cisco Systems by 44.6% in the 4th quarter. Investment Management Corp of Ontario now owns 193,478 shares of the network equipment provider's stock valued at $11,454,000 after acquiring an additional 59,680 shares in the last quarter. Aveo Capital Partners LLC increased its position in shares of Cisco Systems by 8.3% in the fourth quarter. Aveo Capital Partners LLC now owns 5,296 shares of the network equipment provider's stock valued at $314,000 after acquiring an additional 407 shares during the last quarter. Finally, AlTi Global Inc. raised its holdings in Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock worth $1,217,000 after acquiring an additional 6,811 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Citigroup upped their price target on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Rosenblatt Securities upped their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Evercore ISI boosted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Morgan Stanley reaffirmed a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Wall Street Zen upgraded 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 given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.

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.