Cisco Systems (NASDAQ:CSCO) Shares Down 0.4%

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report) dropped 0.4% on Thursday . The company traded as low as $47.04 and last traded at $47.09. Approximately 8,118,296 shares traded hands during trading, a decline of 59% from the average daily volume of 19,658,074 shares. The stock had previously closed at $47.28.

Wall Street Analysts Forecast Growth

CSCO has been the subject of a number of analyst reports. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Monday, May 13th. Deutsche Bank Aktiengesellschaft increased their price target on Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, June 5th. Finally, Morgan Stanley assumed coverage on Cisco Systems in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price target for the company. 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 stock has an average rating of “Hold” and a consensus price target of $56.47.

Read Our Latest Research Report on Cisco Systems

Cisco Systems Stock Performance

The stock has a market capitalization of $187.94 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.73 and a beta of 0.85. The firm has a fifty day moving average of $46.96 and a 200 day moving average of $48.70. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82.

Cisco Systems (NASDAQ:CSCOGet Free Report) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. Cisco Systems’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. On average, sell-side analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now owns 176,384 shares in the company, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders have 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

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in Cisco Systems by 9.5% during the fourth 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 buying an additional 6,345,954 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Cisco Systems by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 68,463,463 shares of the network equipment provider’s stock worth $3,417,011,000 after buying an additional 2,386,508 shares in the last quarter. Norges Bank purchased a new position in Cisco Systems during the fourth quarter worth approximately $2,528,939,000. Wellington Management Group LLP lifted its position in Cisco Systems by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after buying an additional 3,314,330 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Cisco Systems by 12.3% during the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after buying an additional 2,723,260 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

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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