Cisco Systems (NASDAQ:CSCO) Shares Down 0.3%

Cisco Systems, Inc. (NASDAQ:CSCO) traded down 0.3% during mid-day trading on Tuesday . The company traded as low as $47.28 and last traded at $47.36. 1,982,522 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 19,607,229 shares. The stock had previously closed at $47.52.

Analyst Ratings Changes

CSCO has been the topic of several recent analyst reports. BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective on the stock in a research report on Monday, May 13th. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target on the stock. Barclays raised their price objective on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday, May 17th. Piper Sandler restated a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Wednesday, June 5th. Finally, Citigroup began coverage on shares of Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price objective for the company. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the 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 company has a market cap of $189.72 billion, a PE ratio of 15.86, a PEG ratio of 2.74 and a beta of 0.85. 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’s 50-day moving average is $47.03 and its 200 day moving average is $48.75.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $12.53 billion. During the same quarter in the prior year, the business posted $0.88 EPS. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.40%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio is presently 53.87%.

Insider Transactions at Cisco Systems

In other Cisco Systems 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 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, 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 filing with the SEC, which can be accessed through this hyperlink. Also, 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 value 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 41,106 shares of company stock worth $1,908,923. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

Several institutional investors have recently made changes to their positions in CSCO. Charles Schwab Investment Management Inc. increased its holdings in Cisco Systems by 9.5% in the fourth 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 buying an additional 6,345,954 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Cisco Systems by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 68,463,463 shares of the network equipment provider’s stock valued at $3,417,011,000 after purchasing an additional 2,386,508 shares in the last quarter. Norges Bank acquired a new position in Cisco Systems in the 4th quarter worth about $2,528,939,000. Wellington Management Group LLP boosted its position in Cisco Systems by 7.6% during the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after purchasing an additional 3,314,330 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Cisco Systems by 12.3% in the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock valued at $1,260,033,000 after purchasing an additional 2,723,260 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

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.