Gold prices bounce off 3-week lows; demand likely longer term
Maria Victoria Wong, the Senior Vice President and Chief Accounting Officer of Cisco Systems, Inc. (NASDAQ:CSCO), a $241 billion market cap company with a "GOOD" InvestingPro Financial Health score, recently sold 762 shares of the company’s common stock. The shares were sold on March 12 at a price of $60.99 per share, amounting to a total transaction value of $46,474. This sale was conducted under a Rule 10b5-1 trading plan, which Wong had adopted on February 22, 2024. The stock, which has maintained dividend payments for 15 consecutive years, currently trades near $60.46, showing relatively low price volatility compared to the broader market.
In a separate transaction on March 10, Wong had 403 shares withheld to cover tax liabilities arising from the settlement of restricted stock units, valued at $25,767 at a price of $63.94 per share. Following these transactions, Wong holds 44,155 shares of Cisco’s common stock. For comprehensive insider trading analysis and 8 additional exclusive insights about CSCO, visit InvestingPro.
In other recent news, Cisco Systems Inc. reported quarterly revenues of $14.0 billion, slightly exceeding its guidance range, with product orders rising by 11% organically. The company secured over $350 million in AI infrastructure orders during the quarter, contributing to a total of approximately $700 million for the first half of fiscal 2025. Cisco’s strategic partnership with NVIDIA (NASDAQ:NVDA) aims to simplify AI data center networks, integrating Cisco’s networking software with NVIDIA’s Spectrum-X platform. This collaboration is expected to enhance Cisco’s AI capabilities and market position. Citi analysts have increased Cisco’s stock price target to $73, citing the company’s collaboration with NVIDIA and expected AI order growth. UBS also raised its price target for Cisco to $70, noting strong product order growth and robust AI orders. However, UBS highlighted potential tariff risks impacting Cisco’s earnings per share projections. S&P Global Ratings assigned an ’AA-’ issue-level rating to Cisco’s proposed unsecured notes, which are intended to reduce commercial paper debt. These developments reflect Cisco’s ongoing efforts to strengthen its position in the AI sector and manage financial challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.