Cisco Systems (NASDAQ:CSCO) Trading Down 0.2%

Cisco Systems, Inc. (NASDAQ:CSCO) shares fell 0.2% during mid-day trading on Monday . The stock traded as low as $46.92 and last traded at $47.24. 3,004,607 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 19,468,342 shares. The stock had previously closed at $47.32.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CSCO shares. Citigroup initiated coverage on Cisco Systems in a research report on Friday, April 12th. They issued 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 boosted their price objective for the company from $55.00 to $60.00 in a research report on Monday, April 15th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, June 5th. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price on the stock in a report on Monday, May 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Monday, June 10th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, Cisco Systems presently has an average rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Performance

The business’s 50-day moving average is $46.90 and its 200 day moving average is $48.46. The company has a market cap of $188.63 billion, a PE ratio of 15.84, a PEG ratio of 2.74 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Cisco Systems’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed 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 is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.42%. Cisco Systems’s payout ratio is currently 53.87%.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Charles Robbins sold 26,331 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was 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 directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction dated 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 directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock worth $1,908,923 over the last quarter. Company insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CSCO. Delos Wealth Advisors LLC increased its position in shares of Cisco Systems by 1,666.7% during the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. purchased a new position in Cisco Systems during the fourth quarter worth approximately $33,000. Morton Brown Family Wealth LLC grew its stake 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 acquiring an additional 208 shares during the period. Bourgeon Capital Management LLC grew its position in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares during the period. Finally, Retirement Group LLC increased its stake in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after buying an additional 263 shares in the last quarter. 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.