By otakuyassine3@gmail.com 
Cisco Systems, Inc. (NASDAQ:CSCO – Get Free Report) saw a significant decrease in short interest during the month of November. As of November 30th, there was short interest totalling 56,750,000 shares, a decrease of 9.1% from the November 15th total of 62,450,000 shares. Approximately 1.4% of the shares of the company are sold short. Based on an average daily volume of 17,540,000 shares, the days-to-cover ratio is currently 3.2 days.
Insider Activity
In related news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kristina M. Johnson sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $59.87, for a total transaction of $449,025.00. Following the completion of the transaction, the director now owns 65,915 shares of the company’s stock, valued at $3,946,331.05. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by insiders.
Hedge Funds Weigh In On Cisco Systems
Institutional investors have recently bought and sold shares of the company. FMR LLC lifted its position in shares of Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after buying an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock valued at $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after purchasing an additional 4,843,146 shares during the period. Pathway Financial Advisers LLC increased its stake in shares of Cisco Systems by 5,231.5% in the third quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after purchasing an additional 4,842,542 shares in the last quarter. Finally, National Bank of Canada FI raised its position in shares of Cisco Systems by 79.6% in the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock valued at $477,463,000 after purchasing an additional 3,975,028 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on CSCO. Citigroup lifted their target price on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley upped their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. raised shares of Cisco Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Piper Sandler increased their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company boosted their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.28.
Check Out Our Latest Analysis on Cisco Systems
Cisco Systems Stock Up 0.2 %
NASDAQ:CSCO traded up $0.12 during trading hours on Tuesday, hitting $58.47. 13,437,678 shares of the company traded hands, compared to its average volume of 19,081,789. Cisco Systems has a one year low of $44.50 and a one year high of $60.23. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The company has a market cap of $232.87 billion, a PE ratio of 25.20, a PEG ratio of 4.37 and a beta of 0.85. The firm’s 50-day simple moving average is $57.25 and its 200-day simple moving average is $51.49.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 earnings per share. Equities analysts predict that Cisco Systems will post 2.97 earnings per share for the current year.
Cisco Systems Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio is currently 68.67%.
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.
Further Reading
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