Insider Selling: Cisco Systems, Inc. (NASDAQ:CSCO) EVP Sells 8,726 Shares of Stock

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) EVP Thimaya K. Subaiya sold 8,726 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the completion of the sale, the executive vice president now directly owns 174,669 shares of the company's stock, valued at $11,447,806.26. The trade was a 4.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Cisco Systems Price Performance

Cisco Systems stock traded up $0.48 during trading hours on Friday, hitting $66.32. The stock had a trading volume of 50,354,241 shares, compared to its average volume of 20,278,215. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a market capitalization of $262.63 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 3.94 and a beta of 0.88. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.63. The stock's fifty day moving average is $61.20 and its two-hundred day moving average is $60.74.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results 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. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. Cisco Systems's revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on CSCO. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a "hold" rating to a "buy" rating and upped their price target for the stock from $65.00 to $73.00 in a research note on Monday. Citigroup upped their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a research note 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 upped their price target on Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, Piper Sandler upped their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Seven equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $69.11.

Institutional Trading of Cisco Systems

Several large investors have recently bought and sold shares of CSCO. Mainstream Capital Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at $132,000. Proficio Capital Partners LLC boosted its stake in shares of Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider's stock valued at $1,003,000 after acquiring an additional 7,338 shares during the last quarter. Investment Management Corp of Ontario boosted its stake in shares of Cisco Systems by 44.6% during the fourth 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 during the last quarter. AlTi Global Inc. boosted its stake in shares of Cisco Systems by 49.8% during the fourth quarter. AlTi Global Inc. now owns 20,483 shares of the network equipment provider's stock valued at $1,217,000 after acquiring an additional 6,811 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Cisco Systems during the fourth quarter valued at $282,000. Institutional investors and hedge funds 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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