Cisco Systems (NASDAQ:CSCO) Stock Price Up 0.2%

Cisco Systems, Inc. (NASDAQ:CSCO)’s share price rose 0.2% during mid-day trading on Wednesday . The company traded as high as $50.43 and last traded at $50.34. Approximately 3,374,694 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 19,802,898 shares. The stock had previously closed at $50.24.

Analysts Set New Price Targets

CSCO has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Oppenheimer lifted 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. Jefferies Financial Group dropped their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Finally, Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has a consensus rating of “Hold” and an average price target of $55.89.

Cisco Systems Stock Performance

The firm’s fifty day moving average price is $46.91 and its 200-day moving average price is $47.86. 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 firm has a market cap of $203.13 billion, a price-to-earnings ratio of 16.95, a PEG ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.17%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 22,309 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now owns 293,184 shares in the company, valued at approximately $14,659,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Richard Scott Herren sold 22,309 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now owns 293,184 shares in the company, valued at approximately $14,659,200. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now 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 90,004 shares of company stock worth $4,348,600 in the last 90 days. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Cisco Systems

A number of large investors have recently bought and sold shares of CSCO. Summit Securities Group LLC purchased a new position in Cisco Systems during the 2nd quarter worth $25,000. Quarry LP raised its position in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after buying an additional 456 shares during the last quarter. Delos Wealth Advisors LLC raised its position in Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after buying an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cisco Systems during the 4th quarter worth $33,000. Finally, Retirement Group LLC grew its stake in shares of 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 purchasing an additional 263 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

About Cisco Systems

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.