Cisco Systems (NASDAQ:CSCO) Stock Price Down 0.8%

Cisco Systems, Inc. (NASDAQ:CSCO)’s stock price dropped 0.8% during trading on Wednesday . The company traded as low as $46.96 and last traded at $46.99. Approximately 1,968,147 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 19,658,002 shares. The stock had previously closed at $47.38.

Analyst Ratings Changes

CSCO has been the subject of a number of research reports. Citigroup initiated coverage on Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target for the company. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $55.00 to $60.00 in a research note on Monday, April 15th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price for the company. Finally, Wells Fargo & Company lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16th. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Price Performance

The business has a 50-day moving average price of $47.09 and a 200 day moving average price of $48.82. The company has a market cap of $191.17 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 2.71 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.

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, beating 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 return on equity of 30.82% and a net margin of 21.88%. The company’s revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.88 earnings per share. As a group, research analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the transaction, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the completion of the sale, the executive vice president now directly owns 180,705 shares in the company, valued at $8,717,209.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The disclosure for this sale can be found here. Insiders have sold 41,106 shares of company stock valued at $1,908,923 over the last three months. 0.02% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Cisco Systems

Hedge funds have recently made changes to their positions in the stock. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its stake in Cisco Systems by 0.3% during the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after purchasing an additional 202 shares during the period. Hyman Charles D lifted its stake in Cisco Systems by 0.3% during the fourth quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock worth $3,573,000 after purchasing an additional 203 shares during the period. Madrona Financial Services LLC lifted its stake in Cisco Systems by 2.4% during the fourth quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock worth $453,000 after purchasing an additional 207 shares during the period. Morton Brown Family Wealth LLC lifted its stake in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the period. Finally, Baker Boyer National Bank increased its holdings in shares of Cisco Systems by 2.6% during the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after buying an additional 210 shares in the last quarter. 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.