Stock Traders Purchase High Volume of Call Options on Cisco Systems (NASDAQ:CSCO)

Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) was the recipient of unusually large options trading activity on Friday. Traders bought 86,994 call options on the company. This is an increase of approximately 38% compared to the typical volume of 62,949 call options.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CSCO. The Goldman Sachs Group raised their price objective on Cisco Systems from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. UBS Group lifted their target price on Cisco Systems from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, August 18th. Evercore ISI lifted their price target on Cisco Systems from $50.00 to $56.00 and gave the company an “outperform” rating in a research report on Thursday, August 18th. KGI Securities upgraded Cisco Systems from a “neutral” rating to an “outperform” rating in a research report on Wednesday, August 31st. Finally, Raymond James reduced their target price on Cisco Systems from $63.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, August 18th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus target price of $53.63.

Cisco Systems Trading Up 2.7 %

Shares of NASDAQ:CSCO traded up $1.28 during mid-day trading on Friday, hitting $47.87. The stock had a trading volume of 921,174 shares, compared to its average volume of 19,769,342. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.33 and a current ratio of 1.43. The company has a market cap of $196.69 billion, a PE ratio of 16.82, a P/E/G ratio of 2.20 and a beta of 1.00. Cisco Systems has a 12-month low of $38.60 and a 12-month high of $64.29. The company’s 50 day moving average is $42.91 and its 200-day moving average is $44.45.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. The company had revenue of $13.63 billion for the quarter, compared to analyst estimates of $13.29 billion. Cisco Systems had a net margin of 22.00% and a return on equity of 31.75%. Cisco Systems’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.73 EPS. On average, sell-side analysts predict that Cisco Systems will post 3.1 EPS for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Tuesday, October 4th. Cisco Systems’s payout ratio is 54.87%.

Insider Transactions at Cisco Systems

In other news, COO Maria Martinez sold 2,831 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $48.39, for a total value of $136,992.09. Following the completion of the transaction, the chief operating officer now owns 278,012 shares of the company’s stock, valued at $13,453,000.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Cisco Systems news, COO Maria Martinez sold 2,831 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $48.39, for a total transaction of $136,992.09. Following the completion of the sale, the chief operating officer now owns 278,012 shares of the company’s stock, valued at approximately $13,453,000.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prat Bhatt sold 19,168 shares of the stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $848,759.04. Following the sale, the senior vice president now directly owns 38,158 shares of the company’s stock, valued at approximately $1,689,636.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 56,317 shares of company stock valued at $2,612,042. 0.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cisco Systems

A number of hedge funds have recently made changes to their positions in CSCO. Vanguard Group Inc. lifted its stake in Cisco Systems by 1.5% in the third quarter. Vanguard Group Inc. now owns 377,757,324 shares of the network equipment provider’s stock valued at $15,110,293,000 after buying an additional 5,586,273 shares in the last quarter. BlackRock Inc. lifted its position in Cisco Systems by 0.3% during the first quarter. BlackRock Inc. now owns 351,582,807 shares of the network equipment provider’s stock worth $19,604,258,000 after purchasing an additional 1,178,419 shares during the period. State Street Corp lifted its position in Cisco Systems by 2.2% during the first quarter. State Street Corp now owns 190,142,222 shares of the network equipment provider’s stock worth $10,602,330,000 after purchasing an additional 4,017,068 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cisco Systems by 6.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 53,356,141 shares of the network equipment provider’s stock worth $2,975,139,000 after acquiring an additional 3,087,294 shares during the last quarter. Finally, Dodge & Cox increased its stake in shares of Cisco Systems by 0.9% in the second quarter. Dodge & Cox now owns 47,111,072 shares of the network equipment provider’s stock valued at $2,008,816,000 after buying an additional 408,930 shares during the period. Institutional investors and hedge funds own 71.71% of the company’s stock.

About Cisco Systems

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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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