Cisco Systems, Inc. (CSCO) SVP Irving Tan Sells 28,000 Shares

Cisco Systems, Inc. (NASDAQ:CSCO) SVP Irving Tan sold 28,000 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $48.43, for a total transaction of $1,356,040.00. Following the sale, the senior vice president now directly owns 188,853 shares in the company, valued at approximately $9,146,150.79. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Irving Tan also recently made the following trade(s):

  • On Friday, September 14th, Irving Tan sold 68,308 shares of Cisco Systems stock. The stock was sold at an average price of $47.38, for a total transaction of $3,236,433.04.

NASDAQ CSCO traded up $1.04 during mid-day trading on Thursday, reaching $48.39. 39,498,675 shares of the stock were exchanged, compared to its average volume of 24,218,488. Cisco Systems, Inc. has a 1 year low of $37.26 and a 1 year high of $49.47. The company has a market capitalization of $228.11 billion, a PE ratio of 20.68, a price-to-earnings-growth ratio of 2.77 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.05 and a current ratio of 2.11.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, equities analysts expect that Cisco Systems, Inc. will post 2.7 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 23rd. Investors of record on Friday, January 4th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Thursday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 56.41%.

CSCO has been the topic of several recent research reports. Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a report on Tuesday, September 11th. Raymond James upped their price objective on shares of Cisco Systems from $50.00 to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 15th. BidaskClub raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 25th. Loop Capital raised shares of Cisco Systems from a “hold” rating to a “positive” rating and set a $45.00 price objective on the stock in a report on Thursday, November 15th. They noted that the move was a valuation call. Finally, Goldman Sachs Group reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Cisco Systems in a report on Thursday, August 16th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $50.26.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. LFA Lugano Financial Advisors SA raised its position in Cisco Systems by 220,000.0% during the third quarter. LFA Lugano Financial Advisors SA now owns 2,201 shares of the network equipment provider’s stock worth $107,000 after acquiring an additional 2,200 shares during the period. JJJ Advisors Inc. acquired a new position in Cisco Systems during the second quarter worth $110,000. Camarda Financial Advisors LLC raised its position in Cisco Systems by 546.3% during the third quarter. Camarda Financial Advisors LLC now owns 2,585 shares of the network equipment provider’s stock worth $126,000 after acquiring an additional 2,185 shares during the period. Legacy Advisors LLC raised its position in Cisco Systems by 597.6% during the second quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock worth $148,000 after acquiring an additional 2,940 shares during the period. Finally, Shamrock Asset Management LLC raised its position in Cisco Systems by 3,623.0% during the third quarter. Shamrock Asset Management LLC now owns 3,723 shares of the network equipment provider’s stock worth $181,000 after acquiring an additional 3,623 shares during the period. 69.52% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY NOTICE: This piece was published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of US and international trademark and copyright law. The correct version of this piece can be accessed at https://www.chaffeybreeze.com/2018/12/06/cisco-systems-inc-csco-svp-irving-tan-sells-28000-shares.html.

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 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.

Recommended Story: Outstanding Shares

Insider Buying and Selling by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply