Insider Selling: Cisco Systems, Inc. (NASDAQ:CSCO) EVP Sells $708,874.00 in Stock

Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) EVP Jeffery S. Sharritts sold 14,830 shares of Cisco Systems stock in a transaction on Monday, November 21st. The stock was sold at an average price of $47.80, for a total transaction of $708,874.00. Following the completion of the transaction, the executive vice president now directly owns 277,751 shares in the company, valued at $13,276,497.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cisco Systems Trading Up 0.4 %

Shares of Cisco Systems stock opened at $48.57 on Friday. The firm has a 50-day simple moving average of $43.15 and a two-hundred day simple moving average of $44.35. The company has a market cap of $199.57 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 2.35 and a beta of 1.00. Cisco Systems, Inc. has a fifty-two week low of $38.60 and a fifty-two week high of $64.29. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.34 and a current ratio of 1.45.

Cisco Systems (NASDAQ:CSCOGet Rating) last issued its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. The business had revenue of $13.63 billion during the quarter, compared to the consensus estimate of $13.29 billion. Cisco Systems had a net margin of 22.00% and a return on equity of 31.68%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.17 earnings per share for the current fiscal year.

Institutional Trading of Cisco Systems

Institutional investors and hedge funds have recently modified their holdings of the stock. Home Federal Bank of Tennessee increased its stake in shares of Cisco Systems by 9.4% during the second quarter. Home Federal Bank of Tennessee now owns 5,278 shares of the network equipment provider’s stock worth $225,000 after purchasing an additional 455 shares in the last quarter. Nadler Financial Group Inc. grew its stake in Cisco Systems by 5.7% during the 2nd quarter. Nadler Financial Group Inc. now owns 9,004 shares of the network equipment provider’s stock valued at $384,000 after acquiring an additional 487 shares in the last quarter. LVZ Inc. grew its stake in Cisco Systems by 22.9% during the 2nd quarter. LVZ Inc. now owns 7,852 shares of the network equipment provider’s stock valued at $335,000 after acquiring an additional 1,464 shares in the last quarter. Aurora Private Wealth Inc. purchased a new stake in Cisco Systems during the 2nd quarter valued at about $170,000. Finally, Bison Wealth LLC grew its stake in Cisco Systems by 7.7% during the 2nd quarter. Bison Wealth LLC now owns 13,343 shares of the network equipment provider’s stock valued at $569,000 after acquiring an additional 958 shares in the last quarter. Hedge funds and other institutional investors own 71.71% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of several analyst reports. Rosenblatt Securities cut their price target on shares of Cisco Systems from $53.00 to $51.00 and set a “neutral” rating on the stock in a report on Thursday, November 17th. KGI Securities raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating in a report on Wednesday, August 31st. Cowen lifted their price target on shares of Cisco Systems from $60.00 to $61.00 and gave the stock an “outperform” rating in a report on Thursday, November 17th. Jefferies Financial Group lifted their price target on shares of Cisco Systems from $52.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. Finally, Bank of America reiterated a “buy” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Wednesday, November 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and an average price target of $53.63.

Cisco Systems Company Profile

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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

Further Reading

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

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