Cisco Systems, Inc. (NASDAQ:CSCO) saw a large decrease in short interest during the month of September. As of September 14th, there was short interest totalling 39,132,917 shares, a decrease of 3.0% from the August 31st total of 40,336,133 shares. Based on an average trading volume of 17,316,495 shares, the days-to-cover ratio is currently 2.3 days. Currently, 0.8% of the company’s shares are sold short.
Shares of NASDAQ CSCO opened at $48.33 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22. The firm has a market cap of $233.51 billion, a P/E ratio of 20.65, a P/E/G ratio of 2.86 and a beta of 1.06. Cisco Systems has a 1-year low of $33.17 and a 1-year high of $49.06.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. equities analysts forecast that Cisco Systems will post 2.67 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Thursday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 56.41%.
CSCO has been the topic of a number of recent research reports. Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. BidaskClub raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 25th. Cowen increased their price target on Cisco Systems from $51.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, August 16th. Morgan Stanley dropped their price target on Cisco Systems from $50.00 to $48.00 and set an “overweight” rating on the stock in a research report on Thursday, July 19th. Finally, JPMorgan Chase & Co. set a $59.00 price target on Cisco Systems and gave the stock a “buy” rating in a research report on Thursday, August 16th. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $48.37.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $3,304,000.00. Following the transaction, the chief financial officer now owns 720,930 shares of the company’s stock, valued at approximately $34,027,896. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Chandler sold 31,842 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $1,502,942.40. The disclosure for this sale can be found here. Insiders sold a total of 450,620 shares of company stock worth $21,322,282 in the last ninety days. 0.05% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in CSCO. JJJ Advisors Inc. purchased a new stake in Cisco Systems in the second quarter valued at about $110,000. Certified Advisory Corp purchased a new stake in Cisco Systems in the fourth quarter valued at about $116,000. Trustcore Financial Services LLC raised its stake in Cisco Systems by 143.5% in the first quarter. Trustcore Financial Services LLC now owns 3,294 shares of the network equipment provider’s stock valued at $141,000 after buying an additional 1,941 shares during the last quarter. Smart Portfolios LLC purchased a new stake in Cisco Systems in the first quarter valued at about $146,000. Finally, Legacy Advisors LLC raised its stake in Cisco Systems by 597.6% in the second quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock valued at $148,000 after buying an additional 2,940 shares during the last quarter. Institutional investors own 71.39% of the company’s stock.
Cisco Systems Company Profile
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.
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