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

Cisco Systems, Inc. (NASDAQ:CSCO)’s stock price rose 0.8% on Friday . The stock traded as high as $47.86 and last traded at $47.85. Approximately 2,390,292 shares traded hands during trading, a decline of 88% from the average daily volume of 19,590,496 shares. The stock had previously closed at $47.45.

Analysts Set New Price Targets

A number of brokerages have recently commented on CSCO. JPMorgan Chase & Co. began coverage on Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target for the company. Barclays upped their price target on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, May 17th. Oppenheimer upped their price target on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research note on Monday, May 13th. Finally, StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Trading Up 0.1 %

The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The business has a 50-day simple moving average of $47.06 and a two-hundred day simple moving average of $48.79. The stock has a market cap of $191.41 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 2.75 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released its quarterly 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. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm 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 posted $0.88 EPS. The business’s revenue was down 12.8% on a year-over-year basis. As a group, research analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.37%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is presently 53.87%.

Insider Activity

In other 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 value of $1,213,859.10. Following the completion of the sale, the chief executive officer now 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 is available at this link. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction on Friday, May 17th. The stock was sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares in the company, valued at approximately $8,717,209.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Cisco Systems

A number of large investors have recently added to or reduced their stakes in the business. Bright Futures Wealth Management LLC. bought a new stake in Cisco Systems in the 1st quarter valued at $1,784,000. Quent Capital LLC increased its position in Cisco Systems by 1.8% during the 1st quarter. Quent Capital LLC now owns 19,125 shares of the network equipment provider’s stock worth $955,000 after buying an additional 329 shares during the period. Old Port Advisors increased its position in Cisco Systems by 1.1% during the 1st quarter. Old Port Advisors now owns 56,217 shares of the network equipment provider’s stock worth $2,806,000 after buying an additional 615 shares during the period. Lazari Capital Management Inc. bought a new position in Cisco Systems during the 1st quarter worth $204,000. Finally, Cape Investment Advisory Inc. increased its position in Cisco Systems by 67.1% during the 1st quarter. Cape Investment Advisory Inc. now owns 3,188 shares of the network equipment provider’s stock worth $159,000 after buying an additional 1,280 shares during the period. 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.