Mark D. Chandler Sells 1,379 Shares of Cisco Systems, Inc. (NASDAQ:CSCO) Stock

Cisco Systems, Inc. (NASDAQ:CSCO) EVP Mark D. Chandler sold 1,379 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $55.94, for a total value of $77,141.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Mark D. Chandler also recently made the following trade(s):

  • On Monday, May 20th, Mark D. Chandler sold 3,750 shares of Cisco Systems stock. The shares were sold at an average price of $55.79, for a total value of $209,212.50.

Shares of CSCO stock traded down $1.25 on Wednesday, reaching $55.86. 21,147,080 shares of the stock were exchanged, compared to its average volume of 20,830,563. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. The company has a market cap of $244.47 billion, a P/E ratio of 23.87, a PEG ratio of 2.86 and a beta of 1.20. Cisco Systems, Inc. has a twelve month low of $40.25 and a twelve month high of $57.56.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $12.96 billion during the quarter, compared to analysts’ expectations of $12.89 billion. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. Cisco Systems’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 2.8 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Wednesday, July 3rd. Cisco Systems’s dividend payout ratio is currently 59.83%.

Cisco Systems declared that its board has authorized a share buyback program on Wednesday, February 13th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to buy up to 6.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Several research firms recently issued reports on CSCO. BidaskClub cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a report on Tuesday, May 21st. William Blair reiterated an “outperform” rating on shares of Cisco Systems in a report on Thursday, May 16th. Morgan Stanley lifted their price target on shares of Cisco Systems from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. Finally, Piper Jaffray Companies lifted their price target on shares of Cisco Systems from $52.00 to $58.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $55.92.

A number of large investors have recently bought and sold shares of CSCO. Bank of New York Mellon Corp raised its stake in Cisco Systems by 193,168.7% during the third quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock worth $5,095,693,000 after purchasing an additional 104,687,754 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Cisco Systems by 3,130.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 68,193,317 shares of the network equipment provider’s stock worth $1,574,000 after purchasing an additional 66,082,350 shares during the period. Norges Bank purchased a new position in Cisco Systems during the fourth quarter worth approximately $2,164,695,000. Fisher Asset Management LLC raised its stake in Cisco Systems by 36.0% during the fourth quarter. Fisher Asset Management LLC now owns 27,338,574 shares of the network equipment provider’s stock worth $1,184,580,000 after purchasing an additional 7,238,755 shares during the period. Finally, Geode Capital Management LLC raised its stake in Cisco Systems by 11.2% during the fourth quarter. Geode Capital Management LLC now owns 64,506,078 shares of the network equipment provider’s stock worth $2,790,865,000 after purchasing an additional 6,516,314 shares during the period. 74.60% of the stock is currently owned by institutional investors.

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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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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