Cisco Systems (NASDAQ:CSCO) Trading 0.3% Higher

Cisco Systems, Inc. (NASDAQ:CSCO)’s share price shot up 0.3% on Wednesday . The company traded as high as $46.28 and last traded at $45.94. 2,996,234 shares were traded during mid-day trading, a decline of 85% from the average session volume of 19,471,732 shares. The stock had previously closed at $45.80.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Oppenheimer upped their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Finally, BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research report on Monday, May 13th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Price Performance

The company has a 50-day moving average of $46.90 and a two-hundred day moving average of $48.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The stock has a market capitalization of $184.96 billion, a PE ratio of 15.47, a P/E/G ratio of 2.67 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion for the quarter, compared to analysts’ expectations of $12.53 billion. During the same period last year, the company earned $0.88 earnings per share. The company’s quarterly revenue was down 12.8% on a year-over-year basis. Sell-side analysts predict that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the business’s 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 sale, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, 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 sale, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 directly owns 176,384 shares in the company, valued at $7,997,250.56. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock worth $1,908,923 over the last three months. 0.02% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in Cisco Systems in the 4th quarter worth approximately $2,528,939,000. Swedbank AB bought a new position in Cisco Systems in the 1st quarter valued at about $840,538,000. Charles Schwab Investment Management Inc. boosted its stake 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 valued at $3,672,445,000 after purchasing an additional 6,345,954 shares in the last quarter. FIL Ltd grew its holdings in Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after acquiring an additional 6,054,748 shares during the period. Finally, Natixis grew its stake in shares of Cisco Systems by 438.4% in the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after purchasing an additional 4,010,228 shares during the last quarter. Institutional investors and hedge funds 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.