Jeetendra I. Patel Sells 899 Shares of Cisco Systems, Inc. (NASDAQ:CSCO) Stock

Cisco Systems, Inc. (NASDAQ:CSCO) insider Jeetendra I. Patel sold 899 shares of the business’s stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the completion of the sale, the insider now owns 255,377 shares of the company’s stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cisco Systems Trading Down 1.6%

Shares of CSCO stock opened at $64.09 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50. The stock has a market cap of $253.80 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The firm has a fifty day moving average of $60.47 and a 200-day moving average of $60.57.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company had revenue of $14.15 billion during the quarter, compared to analysts’ expectations of $14.05 billion. During the same quarter in the prior year, the company posted $0.88 EPS. The business’s revenue was up 11.4% on a year-over-year basis. On average, equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 66.94%.

Institutional Investors Weigh In On Cisco Systems

Hedge funds have recently made changes to their positions in the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $26,000. Navigoe LLC bought a new stake in Cisco Systems during the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new stake in Cisco Systems during the 4th quarter worth about $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new stake in Cisco Systems during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, May 15th. Morgan Stanley reiterated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Evercore ISI upped their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Wells Fargo & Company upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $72.00 to $75.00 in a research note on Thursday, May 15th. Finally, 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 note on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.00.

About Cisco Systems

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.