Cisco Systems, Inc. (NASDAQ:CSCO) Sees Large Decrease in Short Interest

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report) was the recipient of a large decrease in short interest during the month of February. As of February 29th, there was short interest totalling 42,280,000 shares, a decrease of 9.9% from the February 14th total of 46,950,000 shares. Based on an average trading volume of 19,680,000 shares, the short-interest ratio is presently 2.1 days. Approximately 1.1% of the shares of the company are sold short.

Analysts Set New Price Targets

Several research analysts recently weighed in on CSCO shares. Barclays increased their target price on Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. Wells Fargo & Company assumed coverage on Cisco Systems in a research note on Thursday, February 15th. They set an “equal weight” rating and a $52.00 target price for the company. Melius downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Finally, Melius Research reiterated a “hold” rating and issued a $55.00 price target on shares of Cisco Systems in a research note on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $56.36.

Get Our Latest Stock Report on CSCO

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Richard Scott Herren sold 13,942 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 2,497 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares in the company, valued at approximately $2,906,050. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock valued at $972,080 in the last ninety days. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

A number of institutional investors have recently modified their holdings of the company. Skyline Advisors Inc. bought a new position in Cisco Systems during the fourth quarter worth $241,000. BlueChip Wealth Advisors LLC bought a new position in Cisco Systems during the fourth quarter worth $659,000. Ables Iannone Moore & Associates Inc. bought a new position in Cisco Systems during the fourth quarter worth $117,000. Leo Wealth LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at $1,583,000. Finally, Yeomans Consulting Group Inc. bought a new position in shares of Cisco Systems in the fourth quarter valued at $322,000. 72.21% of the stock is owned by institutional investors.

Cisco Systems Stock Up 0.7 %

Cisco Systems stock opened at $49.27 on Tuesday. The firm has a market capitalization of $199.50 billion, a PE ratio of 14.98, a P/E/G ratio of 2.25 and a beta of 0.87. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.37 and a quick ratio of 1.26. The company’s 50-day moving average is $49.87 and its 200-day moving average is $51.26. Cisco Systems has a fifty-two week low of $45.56 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.76 EPS. Sell-side analysts anticipate that Cisco Systems will post 3.17 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 24th. Stockholders of record on Thursday, April 4th will be paid a $0.40 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date of this dividend is Wednesday, April 3rd. Cisco Systems’s dividend payout ratio is currently 47.42%.

About Cisco Systems

(Get Free Report)

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.

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