Traders sold shares of Cisco Systems, Inc. (NASDAQ:CSCO) on strength during trading on Wednesday. $100.46 million flowed into the stock on the tick-up and $227.50 million flowed out of the stock on the tick-down, for a money net flow of $127.04 million out of the stock. Of all companies tracked, Cisco Systems had the 8th highest net out-flow for the day. Cisco Systems traded up $1.40 for the day and closed at $47.90
A number of research firms have recently issued reports on CSCO. Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Piper Jaffray Companies set a $50.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a research report on Tuesday, September 11th. BidaskClub downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, July 11th. Goldman Sachs Group reiterated a “buy” rating and set a $56.00 price target on shares of Cisco Systems in a research report on Thursday, August 16th. Finally, Credit Suisse Group lifted their price target on shares of Cisco Systems from $41.00 to $43.00 and gave the company a “hold” rating in a research report on Thursday, August 16th. Eight research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and an average target price of $48.76.
The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22. The stock has a market capitalization of $219.10 billion, a PE ratio of 20.47, a P/E/G ratio of 2.69 and a beta of 1.11.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Investors of record on Friday, October 5th were given a dividend of $0.33 per share. The ex-dividend date was Thursday, October 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.76%. Cisco Systems’s dividend payout ratio is currently 56.41%.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $3,304,000.00. Following the completion of the transaction, the chief financial officer now directly owns 720,930 shares in the company, valued at approximately $34,027,896. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Charles Robbins sold 217,420 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $47.28, for a total value of $10,279,617.60. The disclosure for this sale can be found here. Insiders have sold a total of 450,620 shares of company stock valued at $21,322,282 over the last 90 days. Insiders own 0.03% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Asset Planning Services Inc. LA ADV grew its stake in shares of Cisco Systems by 1.1% during the 3rd quarter. Asset Planning Services Inc. LA ADV now owns 99,399 shares of the network equipment provider’s stock valued at $4,836,000 after buying an additional 1,100 shares during the period. Cetera Advisors LLC grew its stake in shares of Cisco Systems by 1.4% during the 1st quarter. Cetera Advisors LLC now owns 78,073 shares of the network equipment provider’s stock valued at $3,350,000 after buying an additional 1,106 shares during the period. Franklin Street Advisors Inc. NC grew its stake in shares of Cisco Systems by 0.3% during the 3rd quarter. Franklin Street Advisors Inc. NC now owns 443,229 shares of the network equipment provider’s stock valued at $21,563,000 after buying an additional 1,131 shares during the period. Hemenway Trust Co LLC grew its stake in shares of Cisco Systems by 1.0% during the 3rd quarter. Hemenway Trust Co LLC now owns 117,243 shares of the network equipment provider’s stock valued at $5,704,000 after buying an additional 1,132 shares during the period. Finally, Willingdon Wealth Management grew its stake in shares of Cisco Systems by 1.5% during the 3rd quarter. Willingdon Wealth Management now owns 76,249 shares of the network equipment provider’s stock valued at $3,710,000 after buying an additional 1,134 shares during the period. Institutional investors own 71.52% of the company’s stock.
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Cisco Systems Company Profile (NASDAQ:CSCO)
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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