Cisco Systems, Inc. (NASDAQ:CSCO) SVP Maria Victoria Wong Sells 4,185 Shares

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) SVP Maria Victoria Wong sold 4,185 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.51, for a total transaction of $265,789.35. Following the completion of the transaction, the senior vice president now directly owns 38,103 shares in the company, valued at $2,419,921.53. This represents a 9.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Maria Victoria Wong also recently made the following trade(s):

• On Wednesday, March 12th, Maria Victoria Wong sold 762 shares of Cisco Systems stock. The stock was sold at an average price of $60.99, for a total value of $46,474.38.

Cisco Systems Stock Performance

NASDAQ CSCO traded up $0.52 during midday trading on Tuesday, hitting $64.37. The company had a trading volume of 5,256,477 shares, compared to its average volume of 20,168,679. The firm has a fifty day simple moving average of $59.34 and a two-hundred day simple moving average of $60.17. The stock has a market cap of $254.91 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 4.16 and a beta of 0.89. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50.

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

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.55%. Cisco Systems's dividend payout ratio is currently 66.94%.

Cisco Systems announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Institutional Trading of Cisco Systems

Several large investors have recently added to or reduced their stakes in CSCO. Tallon Kerry Patrick bought a new stake in shares of Cisco Systems during the fourth quarter worth $603,000. Brighton Jones LLC increased its position in Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock worth $4,392,000 after purchasing an additional 24,562 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Cisco Systems by 60.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 8,219 shares of the network equipment provider's stock valued at $487,000 after buying an additional 3,093 shares during the period. Foundations Investment Advisors LLC raised its position in shares of Cisco Systems by 5.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 27,086 shares of the network equipment provider's stock valued at $1,604,000 after acquiring an additional 1,387 shares during the last quarter. Finally, Griffin Asset Management Inc. lifted its stake in shares of Cisco Systems by 16.2% in the 4th quarter. Griffin Asset Management Inc. now owns 9,059 shares of the network equipment provider's stock valued at $536,000 after purchasing an additional 1,260 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the stock. DZ Bank raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Citigroup increased their price objective 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 lifted their target price on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. New Street Research reiterated a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. Finally, Piper Sandler lifted their price target on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and a consensus target price 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.