Insider Selling: Cisco Systems, Inc. (NASDAQ:CSCO) SVP Sells $170,166.44 in Stock

Cisco Systems, Inc. (NASDAQ:CSCO) SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, June 13th, Maria Victoria Wong sold 762 shares of Cisco Systems stock. The shares were sold at an average price of $45.42, for a total value of $34,610.04.

Cisco Systems Stock Up 0.3 %

Shares of NASDAQ:CSCO opened at $50.54 on Friday. The business has a 50-day moving average price of $47.55 and a 200 day moving average price of $47.92. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $203.62 billion, a price-to-earnings ratio of 17.02, a PEG ratio of 2.97 and a beta of 0.85. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $58.19.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the company earned $1.01 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.17%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Institutional Trading of Cisco Systems

A number of hedge funds and other institutional investors have recently modified their holdings of CSCO. Charles Schwab Investment Management Inc. boosted its holdings in Cisco Systems by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after acquiring an additional 6,345,954 shares during the period. Bank of New York Mellon Corp boosted its holdings in Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock valued at $3,340,764,000 after acquiring an additional 1,853,598 shares during the period. Norges Bank purchased a new position in Cisco Systems during the 4th quarter valued at about $2,528,939,000. Legal & General Group Plc boosted its holdings in Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Cisco Systems by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after acquiring an additional 3,314,330 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CSCO shares. Piper Sandler reiterated a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Monday, May 13th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a research note on Thursday, August 15th. Finally, Barclays reduced their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $55.89.

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.