Cisco Systems, Inc. (NASDAQ:CSCO) SVP Prat Bhatt sold 468 shares of Cisco Systems stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $58.35, for a total transaction of $27,307.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Prat Bhatt also recently made the following trade(s):
- On Monday, August 23rd, Prat Bhatt sold 3,518 shares of Cisco Systems stock. The stock was sold at an average price of $58.40, for a total transaction of $205,451.20.
CSCO stock traded down $0.23 during trading on Tuesday, reaching $57.87. 12,807,986 shares of the company were exchanged, compared to its average volume of 18,916,217. The company has a 50-day moving average of $56.24 and a two-hundred day moving average of $53.24. The company has a market capitalization of $244.08 billion, a price-to-earnings ratio of 23.12, a P/E/G ratio of 3.01 and a beta of 0.91. Cisco Systems, Inc. has a twelve month low of $35.28 and a twelve month high of $60.27. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.49 and a quick ratio of 1.43.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Tuesday, August 17th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of $0.83 by $0.01. The business had revenue of $13.13 billion during the quarter, compared to analysts' expectations of $13.04 billion. Cisco Systems had a net margin of 21.26% and a return on equity of 30.82%. The firm's quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.80 EPS. On average, analysts forecast that Cisco Systems, Inc. will post 3.08 EPS for the current year.
A number of hedge funds have recently added to or reduced their stakes in CSCO. Lokken Investment Group LLC grew its holdings in Cisco Systems by 7.4% during the 2nd quarter. Lokken Investment Group LLC now owns 14,500 shares of the network equipment provider's stock worth $768,000 after acquiring an additional 999 shares during the last quarter. Princeton Portfolio Strategies Group LLC grew its holdings in Cisco Systems by 13.7% during the 1st quarter. Princeton Portfolio Strategies Group LLC now owns 41,483 shares of the network equipment provider's stock worth $2,145,000 after acquiring an additional 4,992 shares during the last quarter. FDx Advisors Inc. grew its holdings in Cisco Systems by 6.6% during the 2nd quarter. FDx Advisors Inc. now owns 298,191 shares of the network equipment provider's stock worth $15,804,000 after acquiring an additional 18,502 shares during the last quarter. Procyon Private Wealth Partners LLC grew its holdings in Cisco Systems by 26.5% during the 2nd quarter. Procyon Private Wealth Partners LLC now owns 53,084 shares of the network equipment provider's stock worth $2,813,000 after acquiring an additional 11,109 shares during the last quarter. Finally, Employees Retirement System of Texas bought a new stake in Cisco Systems during the 1st quarter worth approximately $18,921,000. Institutional investors and hedge funds own 71.92% of the company's stock.
A number of analysts have issued reports on the stock. William Blair reissued a "market perform" rating on shares of Cisco Systems in a report on Thursday, May 20th. Citigroup boosted their price objective on shares of Cisco Systems from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Thursday, August 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $55.00 to $59.00 and gave the company a "hold" rating in a report on Tuesday, August 24th. Barclays boosted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the company an "overweight" rating in a report on Thursday, August 19th. They noted that the move was a valuation call. Finally, Oppenheimer boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a report on Thursday, August 19th. Eleven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Cisco Systems has an average rating of "Buy" and a consensus target price of $56.19.
About Cisco Systems
Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
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