Insider Selling: Cisco Systems, Inc. (NASDAQ:CSCO) SVP Sells $34,392.34 in Stock

Cisco Systems, Inc. (NASDAQ:CSCO) SVP Maria Victoria Wong sold 586 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total value of $34,392.34. Following the transaction, the senior vice president now directly owns 50,767 shares in the company, valued at approximately $2,979,515.23. This represents a 1.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Maria Victoria Wong also recently made the following trade(s):

• On Wednesday, November 27th, Maria Victoria Wong sold 4,881 shares of Cisco Systems stock. The shares were sold at an average price of $59.73, for a total transaction of $291,542.13.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $58.62 on Friday. The firm has a market cap of $233.47 billion, a PE ratio of 25.16, a PEG ratio of 4.37 and a beta of 0.85. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $60.23. The company has a fifty day moving average price of $57.13 and a 200 day moving average price of $51.36.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.73%. Cisco Systems’s dividend payout ratio is 68.67%.

Hedge Funds Weigh In On Cisco Systems

Large investors have recently modified their holdings of the business. Summit Securities Group LLC acquired a new position in shares of Cisco Systems during the 2nd quarter worth about $25,000. Quarry LP boosted its stake in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its stake in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at about $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems in the 3rd quarter valued at about $40,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CSCO has been the subject of several recent research reports. JPMorgan Chase & Co. upgraded shares of Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the company from $55.00 to $66.00 in a research report on Monday, November 11th. StockNews.com upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Piper Sandler upped their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, November 14th. Barclays upped their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, Citigroup upped their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

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.