Oliver Tuszik Sells 15,000 Shares of Cisco Systems, Inc. (NASDAQ:CSCO) Stock

Cisco Systems, Inc. (NASDAQ:CSCO) EVP Oliver Tuszik sold 15,000 shares of the company’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the sale, the executive vice president now owns 131,676 shares in the company, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Cisco Systems Price Performance

Shares of CSCO opened at $62.81 on Friday. The company has a market cap of $248.73 billion, a price-to-earnings ratio of 27.43, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average of $59.30 and a two-hundred day moving average of $60.10.

Cisco Systems (NASDAQ:CSCO) last announced 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 during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Cisco Systems’s revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm 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 announced that its board has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders 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 annualized dividend and a dividend yield of 2.61%. Cisco Systems’s payout ratio is currently 66.94%.

Institutional Investors Weigh In On Cisco Systems

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Nova Wealth Management Inc. acquired a new stake in shares of Cisco Systems during the first quarter worth $31,000. Silicon Valley Capital Partners lifted its stake in shares of Cisco Systems by 194.7% during the first quarter. Silicon Valley Capital Partners now owns 5,443 shares of the network equipment provider’s stock worth $331,000 after buying an additional 3,596 shares during the period. Strs Ohio purchased a new position in shares of Cisco Systems during the first quarter worth $122,254,000. Jacobi Capital Management LLC raised its holdings in shares of Cisco Systems by 1.0% during the first quarter. Jacobi Capital Management LLC now owns 99,534 shares of the network equipment provider’s stock worth $6,142,000 after purchasing an additional 979 shares during the last quarter. Finally, Advisors Capital Management LLC raised its holdings in shares of Cisco Systems by 26.0% during the first quarter. Advisors Capital Management LLC now owns 1,241,941 shares of the network equipment provider’s stock worth $76,640,000 after purchasing an additional 256,415 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Citigroup upped their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Piper Sandler increased their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.