Traders Purchase High Volume of Cisco Systems Put Options (CSCO)

Cisco Systems, Inc. (NASDAQ:CSCO) was the recipient of some unusual options trading activity on Monday. Investors acquired 16,510 put options on the stock. This is an increase of approximately 117% compared to the typical volume of 7,614 put options.

Shares of Cisco Systems (CSCO) opened at 33.37 on Friday. The firm has a 50-day moving average price of $31.72 and a 200 day moving average price of $32.41. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.60. The firm has a market capitalization of $165.25 billion, a price-to-earnings ratio of 17.56 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter last year, the firm earned $0.63 EPS. Cisco Systems’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts anticipate that Cisco Systems will post $2.43 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.48%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is 60.73%.

In related news, CAO Prat Bhatt sold 25,638 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the transaction, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Insiders sold a total of 485,138 shares of company stock valued at $15,347,574 in the last three months. 0.11% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in CSCO. Barnett & Company Inc. boosted its stake in Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC boosted its stake in Cisco Systems by 36.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in Cisco Systems in the 2nd quarter valued at $104,000. Grove Bank & Trust boosted its stake in Cisco Systems by 141.3% in the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 2,120 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its stake in Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares in the last quarter. 75.37% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have recently commented on CSCO. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Tuesday. Vetr downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $36.12 price objective for the company. in a research note on Wednesday, September 13th. Robert W. Baird reaffirmed a “buy” rating and set a $38.00 price objective on shares of Cisco Systems in a research note on Monday, September 11th. KeyCorp reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Friday, September 8th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Wednesday, September 6th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $35.57.

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About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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