Cisco Systems, Inc. (CSCO) EVP David Goeckeler Sells 30,000 Shares

Cisco Systems, Inc. (NASDAQ:CSCO) EVP David Goeckeler sold 30,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total transaction of $1,562,100.00. Following the completion of the transaction, the executive vice president now directly owns 419,439 shares of the company’s stock, valued at $21,840,188.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

CSCO traded up $0.15 during midday trading on Thursday, reaching $52.74. The company’s stock had a trading volume of 19,213,364 shares, compared to its average volume of 21,274,264. The stock has a market cap of $253.35 billion, a PE ratio of 22.54, a price-to-earnings-growth ratio of 2.72 and a beta of 1.22. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.74 and a current ratio of 1.80. Cisco Systems, Inc. has a 1 year low of $40.19 and a 1 year high of $52.96.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The business had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The business’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. Equities research analysts predict that Cisco Systems, Inc. will post 2.74 EPS for the current year.



The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date of this dividend is Thursday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.33. Cisco Systems’s dividend payout ratio is 56.41%.

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

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Redmond Asset Management LLC grew its holdings in shares of Cisco Systems by 4.6% during the second quarter. Redmond Asset Management LLC now owns 45,599 shares of the network equipment provider’s stock valued at $1,962,000 after buying an additional 1,993 shares during the last quarter. Parsons Capital Management Inc. RI grew its holdings in shares of Cisco Systems by 1.8% during the second quarter. Parsons Capital Management Inc. RI now owns 117,735 shares of the network equipment provider’s stock valued at $5,066,000 after buying an additional 2,101 shares during the last quarter. Delek Group Ltd. grew its holdings in shares of Cisco Systems by 16.4% during the second quarter. Delek Group Ltd. now owns 197,214 shares of the network equipment provider’s stock valued at $8,486,000 after buying an additional 27,780 shares during the last quarter. Carillon Tower Advisers Inc. grew its holdings in shares of Cisco Systems by 17.0% during the second quarter. Carillon Tower Advisers Inc. now owns 539,309 shares of the network equipment provider’s stock valued at $23,205,000 after buying an additional 78,335 shares during the last quarter. Finally, Argent Capital Management LLC grew its holdings in shares of Cisco Systems by 3.0% during the second quarter. Argent Capital Management LLC now owns 262,936 shares of the network equipment provider’s stock valued at $11,314,000 after buying an additional 7,575 shares during the last quarter. Institutional investors and hedge funds own 68.13% of the company’s stock.

A number of equities analysts recently issued reports on the stock. MKM Partners increased their price target on shares of Cisco Systems to $54.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. Credit Suisse Group increased their price target on shares of Cisco Systems from $44.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, February 14th. KeyCorp increased their price target on shares of Cisco Systems from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday, February 14th. Bank of America reissued a “buy” rating and issued a $56.00 price target on shares of Cisco Systems in a research note on Thursday, February 14th. Finally, Jefferies Financial Group increased their price target on shares of Cisco Systems to $55.00 and gave the stock a “buy” rating in a research note on Thursday, February 14th. They noted that the move was a valuation call. Seven investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and an average target price of $53.36.

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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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