Cisco Systems, Inc. (NASDAQ:CSCO) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totalling 36,528,644 shares, a decline of 10.8% from the June 15th total of 40,942,579 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average trading volume of 23,003,029 shares, the short-interest ratio is currently 1.6 days.
In related news, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the sale, the senior vice president now directly owns 178,577 shares in the company, valued at approximately $5,587,674.33. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock worth $12,503,407 in the last three months. 0.11% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Seven Eight Capital LP purchased a new position in Cisco Systems during the fourth quarter valued at about $112,000. Financial Management Professionals Inc. increased its position in Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after buying an additional 635 shares during the period. Watermark Asset Management Inc. purchased a new position in Cisco Systems during the first quarter valued at about $122,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Cisco Systems during the fourth quarter valued at about $128,000. Finally, Jackson Grant Investment Advisers Inc. increased its position in Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock valued at $128,000 after buying an additional 4,150 shares during the period. 75.30% of the stock is owned by institutional investors.
Cisco Systems (NASDAQ CSCO) opened at 31.90 on Thursday. The firm’s 50-day moving average is $31.55 and its 200 day moving average is $32.39. Cisco Systems has a 52-week low of $29.12 and a 52-week high of $34.60. The company has a market cap of $159.50 billion, a price-to-earnings ratio of 16.19 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. During the same quarter last year, the company earned $0.57 earnings per share. Cisco Systems’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that Cisco Systems will post $2.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 58.29%.
Several research analysts have recently issued reports on CSCO shares. Zacks Investment Research downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Morgan Stanley upgraded shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $33.45 to $39.00 in a research note on Monday, May 15th. Credit Suisse Group upgraded shares of Cisco Systems from an “underperform” rating to an “outperform” rating and upped their target price for the stock from $27.00 to $40.00 in a research note on Thursday, April 27th. Deutsche Bank AG upped their target price on shares of Cisco Systems from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, March 23rd. Finally, Barclays PLC reiterated an “overweight” rating on shares of Cisco Systems in a research note on Saturday, April 22nd. Twelve investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and a consensus target price of $35.32.
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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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