Cisco Systems, Inc. experienced unusual options trading activity on Friday, with investors buying 94,404 call options, which is a 47% increase from the typical daily volume. Several research analysts have updated their ratings on CSCO stock, with Barclays raising their target price to $50.00 and giving the stock an “equal weight” rating. JPMorgan Chase & Co. initiated coverage with a “neutral” rating and a $53.00 price target. Insider activity has also been notable, with EVP Deborah L. Stahlkopf and CEO Carlos Robbins selling shares recently. Institutional investors and hedge funds have made changes to their positions in the company, with notable increases in holdings.
The trading of Cisco Systems increased by 1.2% on Friday, with the stock opening at $47.29. The company recently posted positive earnings results, surpassing EPS estimates and achieving a return on equity of 30.82%. Cisco Systems also announced a quarterly dividend, payable on July 24th. The ex-dividend date is July 5th, with a dividend payout ratio of 53.87%.
Cisco Systems, Inc. designs, manufactures, and sells Internet protocol-based networks and related products globally. Their product portfolio includes switching, routing, wireless, and computing solutions for various industries. For more news and ratings on Cisco Systems, interested individuals can subscribe to MarketBeat.com for daily updates.
Article Source
https://www.defenseworld.net/2024/06/22/traders-buy-high-volume-of-cisco-systems-call-options-nasdaqcsco.html