Cisco Systems (NASDAQ:CSCO) Shares Down 1.4% - What's Next?

Shares of Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) dropped 1.4% during mid-day trading on Wednesday . The stock traded as low as $64.14 and last traded at $64.24. Approximately 5,555,186 shares traded hands during trading, a decline of 72% from the average daily volume of 20,086,881 shares. The stock had previously closed at $65.15.

Wall Street Analyst Weigh In

CSCO has been the topic of several analyst reports. Piper Sandler lifted their price objective on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Citigroup lifted their price objective on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. New Street Research restated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Finally, Rosenblatt Securities boosted their price target on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

Cisco Systems Stock Down 1.6%

The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average of $60.47 and a 200-day moving average of $60.57. The firm has a market cap of $253.80 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The company had revenue of $14.15 billion during the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The firm's quarterly revenue was up 11.4% on a year-over-year basis. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Insider Activity

In other news, insider Jeetendra I. Patel sold 899 shares of the business's stock in a transaction on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the sale, the insider now directly owns 255,377 shares of the company's stock, valued at $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the business's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total value of $48,821.34. Following the sale, the senior vice president now directly owns 36,937 shares in the company, valued at $2,366,553.59. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,931 shares of company stock worth $4,671,930 over the last 90 days. 0.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cisco Systems

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Compass Financial Services Inc raised its position in Cisco Systems by 298.3% during the first quarter. Compass Financial Services Inc now owns 709 shares of the network equipment provider's stock valued at $44,000 after buying an additional 531 shares during the period. Birchbrook Inc. raised its position in Cisco Systems by 6.3% during the first quarter. Birchbrook Inc. now owns 2,964 shares of the network equipment provider's stock valued at $183,000 after buying an additional 176 shares during the period. Asset Planning Services Inc. LA ADV raised its position in Cisco Systems by 0.3% during the first quarter. Asset Planning Services Inc. LA ADV now owns 108,752 shares of the network equipment provider's stock valued at $6,711,000 after buying an additional 300 shares during the period. eCIO Inc. acquired a new position in Cisco Systems during the first quarter valued at $37,000. Finally, First Hawaiian Bank raised its position in Cisco Systems by 3.4% during the first quarter. First Hawaiian Bank now owns 42,731 shares of the network equipment provider's stock valued at $2,637,000 after buying an additional 1,403 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

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.