Cisco Systems (NASDAQ:CSCO) Trading 0.9% Higher

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) traded up 0.9% during mid-day trading on Tuesday . The company traded as high as $47.78 and last traded at $47.72. 2,766,506 shares traded hands during trading, a decline of 86% from the average session volume of 19,680,010 shares. The stock had previously closed at $47.28.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Oppenheimer boosted their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. Citigroup began coverage on shares of Cisco Systems in a report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective on the stock. Bank of America raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $55.00 to $60.00 in a report on Monday, April 15th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Performance

The company has a market cap of $188.79 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 2.74 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $47.11 and its 200 day simple moving average is $48.83.

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

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.41%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Activity

In other news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the transaction, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Insiders sold a total of 41,106 shares of company stock valued at $1,908,923 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

A number of hedge funds have recently made changes to their positions in the stock. Valued Wealth Advisors LLC purchased a new position in Cisco Systems in the 4th quarter valued at approximately $32,000. Delos Wealth Advisors LLC boosted its position in Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in Cisco Systems in the 4th quarter valued at approximately $33,000. Morton Brown Family Wealth LLC boosted its position in Cisco Systems by 41.9% in the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC boosted its position in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Company Profile

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.