Cisco Systems (NASDAQ:CSCO) Stock Price Up 0.3%

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on CSCO shares. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a report on Monday, April 22nd. They set a “neutral” rating and a $53.00 price objective for the company. Oppenheimer increased their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $60.00 in a research note on Monday, April 15th. BNP Paribas upgraded 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 note on Monday, May 13th. Finally, StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Cisco Systems currently has an average rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Trading Up 0.2 %

The stock’s fifty day simple moving average is $46.90 and its two-hundred day simple moving average is $48.63. The firm has a market cap of $184.96 billion, a PE ratio of 15.47, a PEG ratio of 2.67 and a beta of 0.85. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate 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 was down 12.8% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. On average, sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, July 5th. This represents a $1.60 annualized dividend and a dividend yield of 3.49%. Cisco Systems’s payout ratio is 53.87%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the firm’s 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 sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the completion of the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock worth $1,908,923 in the last three months. Corporate insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Valued Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the fourth quarter valued at about $32,000. Delos Wealth Advisors LLC raised its stake in Cisco Systems by 1,666.7% in the fourth quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. acquired a new stake in Cisco Systems in the fourth quarter worth about $33,000. Morton Brown Family Wealth LLC increased its holdings in shares of 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 valued at $36,000 after acquiring an additional 208 shares in the last quarter. Finally, Bourgeon Capital Management LLC boosted its stake in Cisco Systems by 3,500.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

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.