Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report)'s share price shot up 0.6% on Tuesday . The company traded as high as $57.19 and last traded at $57.16. 1,873,269 shares traded hands during trading, a decline of 91% from the average session volume of 20,168,281 shares. The stock had previously closed at $56.84.
Analyst Ratings Changes
A number of research firms have recently commented on CSCO. JPMorgan Chase & Co. dropped their price objective on Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. UBS Group raised their price objective on shares of Cisco Systems from $62.00 to $70.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Wells Fargo & Company reiterated an "equal weight" rating on shares of Cisco Systems in a research note on Thursday, March 6th. The Goldman Sachs Group boosted their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Rosenblatt Securities decreased their target price on Cisco Systems from $80.00 to $63.00 and set a "buy" rating on the stock in a research report on Tuesday, April 22nd. Seven equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $65.05.
Read Our Latest Research Report on CSCO
Cisco Systems Trading Up 0.9 %
The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. The business's fifty day moving average is $59.67 and its two-hundred day moving average is $59.29. The firm has a market cap of $228.14 billion, a price-to-earnings ratio of 25.04, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Equities analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.
Cisco Systems Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.86%. Cisco Systems's payout ratio is 71.62%.
Cisco Systems declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its stock is undervalued.
Insider Activity at Cisco Systems
In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares of the company's stock, valued at approximately $11,604,868.80. The trade was a 1.07 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the transaction, the chief executive officer now owns 736,120 shares of the company's stock, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock worth $4,275,553 in the last quarter. Corporate insiders own 0.01% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. Pflug Koory LLC raised its holdings in shares of Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock valued at $1,955,000 after purchasing an additional 165 shares during the last quarter. Glass Jacobson Investment Advisors llc increased its stake in Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock valued at $123,000 after buying an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC lifted its position in Cisco Systems by 2.3% during the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after buying an additional 167 shares in the last quarter. BlackDiamond Wealth Management LLC boosted its stake in shares of Cisco Systems by 3.1% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after buying an additional 168 shares during the last quarter. Finally, Legacy Financial Group Inc. grew its holdings in shares of Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock valued at $302,000 after acquiring an additional 169 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.
About Cisco Systems
(
Get Free Report)
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.
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