Investors Sell Shares of Cisco Systems, Inc. (CSCO) on Strength After Insider Selling

Traders sold shares of Cisco Systems, Inc. (NASDAQ:CSCO) on strength during trading on Wednesday following insider selling activity. $90.52 million flowed into the stock on the tick-up and $127.17 million flowed out of the stock on the tick-down, for a money net flow of $36.65 million out of the stock. Of all companies tracked, Cisco Systems had the 25th highest net out-flow for the day. Cisco Systems traded up $0.11 for the day and closed at $32.60Specifically, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $32.43, for a total value of $2,107,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the sale, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at $3,847,071.76. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock worth $15,347,574 over the last ninety days. 0.11% of the stock is currently owned by insiders.

A number of analysts have issued reports on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Tuesday. Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $36.12 price objective for the company. in a research note on Wednesday, September 13th. Robert W. Baird restated a “buy” rating and issued a $38.00 price objective on shares of Cisco Systems in a research note on Monday, September 11th. KeyCorp restated a “buy” rating on shares of Cisco Systems in a research note on Friday, September 8th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a research note on Wednesday, September 6th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $35.57.

The stock has a market cap of $161.43 billion, a price-to-earnings ratio of 17.16 and a beta of 1.19. The firm’s 50 day moving average price is $31.72 and its 200 day moving average price is $32.41. Cisco Systems also saw unusually large options trading on Monday. Traders bought 16,510 put options on the company. This is an increase of 117% compared to the average volume of 7,614 put options.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. The company had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm’s quarterly revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Analysts predict that Cisco Systems, Inc. will post $2.43 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is currently 60.73%.

A number of institutional investors and hedge funds have recently modified their holdings of CSCO. TNB Financial acquired a new position in Cisco Systems in the first quarter valued at approximately $939,000. Banced Corp lifted its stake in Cisco Systems by 13.0% in the first quarter. Banced Corp now owns 14,084 shares of the network equipment provider’s stock valued at $476,000 after buying an additional 1,616 shares during the period. Edge Wealth Management LLC lifted its stake in Cisco Systems by 36.2% in the first quarter. Edge Wealth Management LLC now owns 298,110 shares of the network equipment provider’s stock valued at $10,079,000 after buying an additional 79,184 shares during the period. Honkamp Krueger Financial Services Inc. lifted its stake in Cisco Systems by 1.8% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 41,959 shares of the network equipment provider’s stock valued at $1,418,000 after buying an additional 746 shares during the period. Finally, Gierl Augustine Investment Management Inc lifted its stake in Cisco Systems by 7.0% in the first quarter. Gierl Augustine Investment Management Inc now owns 118,501 shares of the network equipment provider’s stock valued at $4,005,000 after buying an additional 7,726 shares during the period. 75.37% of the stock is currently owned by hedge funds and other institutional investors.

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Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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