Cisco Systems Target of Unusually High Options Trading (NASDAQ:CSCO)

Cisco Systems Target of Unusually High Options Trading (NASDAQ:CSCO)


Cisco Systems, Inc. (NASDAQ:CSCO) was the recipient of unusually large options trading activity on Thursday. Stock investors acquired 266,339 call options on the stock. This represents an increase of approximately 1,016% compared to the average volume of 23,876 call options.

In other Cisco Systems news, CEO Charles Robbins sold 7,584 shares of the firm’s stock in a transaction that occurred on Wednesday, May 26th. The shares were sold at an average price of $53.11, for a total transaction of $402,786.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prat Bhatt sold 3,451 shares of the firm’s stock in a transaction that occurred on Monday, June 14th. The stock was sold at an average price of $53.99, for a total transaction of $186,319.49. Following the sale, the senior vice president now owns 105,900 shares in the company, valued at approximately $5,717,541. The disclosure for this sale can be found here. Insiders sold a total of 76,864 shares of company stock worth $4,186,457 in the last quarter. Company insiders own 0.02% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Better Money Decisions LLC purchased a new position in Cisco Systems during the first quarter worth $30,000. Navis Wealth Advisors LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $30,000. Stuart Chaussee & Associates Inc. boosted its stake in shares of Cisco Systems by 43.2% during the first quarter. Stuart Chaussee & Associates Inc. now owns 716 shares of the network equipment provider’s stock valued at $37,000 after purchasing an additional 216 shares during the period. Defined Wealth Management LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $34,000. Finally, ShoreHaven Wealth Partners LLC boosted its stake in shares of Cisco Systems by 55.2% during the first quarter. ShoreHaven Wealth Partners LLC now owns 776 shares of the network equipment provider’s stock valued at $40,000 after purchasing an additional 276 shares during the period. 72.08% of the stock is owned by institutional investors.

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CSCO has been the topic of a number of recent analyst reports. MKM Partners initiated coverage on shares of Cisco Systems in a research note on Thursday, May 13th. They set a “buy” rating and a $61.00 target price on the stock. The Goldman Sachs Group upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $50.00 to $59.00 in a research note on Thursday, March 25th. DZ Bank reiterated a “hold” rating and set a $51.00 price objective on shares of Cisco Systems in a research report on Thursday, May 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Cisco Systems in a research report on Tuesday, April 20th. They set a “hold” rating and a $55.00 price objective on the stock. Finally, Raymond James lifted their price objective on shares of Cisco Systems from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, May 14th. Eleven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Cisco Systems has a consensus rating of “Hold” and a consensus price target of $51.85.

CSCO stock opened at $53.44 on Friday. The firm has a fifty day simple moving average of $52.82. Cisco Systems has a fifty-two week low of $35.28 and a fifty-two week high of $55.35. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.46 and a current ratio of 1.53. The stock has a market capitalization of $225.21 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 2.96 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Tuesday, May 18th. The network equipment provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. The firm had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.57 billion. Cisco Systems had a net margin of 20.92% and a return on equity of 31.12%. Cisco Systems’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. As a group, research analysts anticipate that Cisco Systems will post 2.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 28th. Shareholders of record on Tuesday, July 6th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Friday, July 2nd. Cisco Systems’s payout ratio is 50.68%.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

Further Reading: What are the components of an earnings report?

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2021-07-02 11:42:51

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