Cisco Systems, Inc. Executive Vice President Deborah L. Stahlkopf recently sold 8,016 shares of the company’s stock at an average price of $48.24, totaling $386,691.84. This transaction was disclosed in a legal filing with the SEC. Following the sale, Stahlkopf now owns 180,705 shares valued at $8,717,209.20. Cisco Systems’ shares fell by 0.4%, opening at $46.94 on Wednesday. The company has a market capitalization of $190.07 billion and a P/E ratio of 15.80.
Cisco Systems announced its quarterly earnings results on May 15, reporting earnings per share of $0.88, which exceeded analysts’ expectations of $0.70. The company’s revenue for the quarter was $12.70 billion, higher than analyst estimates of $12.53 billion. Cisco Systems’ revenue decreased by 12.8% compared to the same quarter last year. Analysts predict the company will post $3.13 earnings per share for the current year.
The company also declared a quarterly dividend of $0.40 per share, payable on July 24. Shareholders of record on July 5 will receive this dividend, resulting in an annualized dividend yield of 3.41%. Cisco Systems’ dividend payout ratio is currently 53.87%. Wall Street analysts have provided various ratings for CSCO stock, with the consensus being a “Hold” rating and a price target of $56.47.
Institutional investors and hedge funds have shown interest in Cisco Systems, with various entities purchasing and selling shares of the company. Valued Wealth Advisors, Delos Wealth Advisors, DiNuzzo Private Wealth Inc., Morton Brown Family Wealth LLC, and Bourgeon Capital Management LLC are among those who have bought shares of Cisco Systems. Hedge funds and other institutional investors currently own 73.33% of the company’s shares.
Cisco Systems, Inc. designs, manufactures, and sells Internet protocol-based networks and related products. The company’s offerings include switching, routing, wireless, and computing products. Cisco Systems operates in various regions globally, providing secure and reliable connectivity for networks.
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