Cisco Systems (NASDAQ:CSCO) Trading 0.3% Higher

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report)’s share price traded up 0.3% during mid-day trading on Wednesday . The company traded as high as $47.42 and last traded at $47.42. 2,328,077 shares traded hands during trading, a decline of 88% from the average session volume of 19,611,422 shares. The stock had previously closed at $47.28.

Wall Street Analyst Weigh In

Several analysts have recently commented on CSCO shares. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research report on Monday, May 13th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Wednesday, June 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. Finally, Wells Fargo & Company increased their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.47.

Get Our Latest Research Report on Cisco Systems

Cisco Systems Stock Performance

The firm has a market cap of $189.72 billion, a PE ratio of 15.86, a PEG ratio of 2.73 and a beta of 0.85. The company has a 50-day simple moving average of $46.98 and a two-hundred day simple moving average of $48.73. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The company had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.88 earnings per share. As a group, equities research analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares in the company, valued at approximately $8,717,209.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,106 shares of company stock valued at $1,908,923. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

Hedge funds have recently made changes to their positions in the stock. Norges Bank purchased a new position in Cisco Systems during the 4th quarter valued at about $2,528,939,000. Swedbank AB purchased a new position in Cisco Systems during the first quarter valued at approximately $840,538,000. Charles Schwab Investment Management Inc. increased its holdings in Cisco Systems by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after acquiring an additional 6,345,954 shares during the period. FIL Ltd lifted its stake in Cisco Systems by 47.1% in the 4th quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after purchasing an additional 6,054,748 shares in the last quarter. Finally, Natixis boosted its holdings in Cisco Systems by 438.4% in the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after purchasing an additional 4,010,228 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Company Profile

(Get Free Report)

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 and controllers; 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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