Cisco Systems (NASDAQ:CSCO) Trading 2.2% Higher - Here's Why

Shares of Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) were up 2.2% during trading on Monday . The company traded as high as $65.62 and last traded at $65.47. Approximately 5,003,775 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 20,103,269 shares. The stock had previously closed at $64.09.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CSCO. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research report on Tuesday, February 18th. Evercore ISI upped their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. New Street Research reiterated a "neutral" rating and set a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a research report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $69.11.

Cisco Systems Price Performance

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 business has a 50-day moving average of $60.47 and a 200 day moving average of $60.58. The firm has a market capitalization of $259.20 billion, a P/E ratio of 28.61, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its 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. The company had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $0.88 EPS. On average, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Insider Activity at Cisco Systems

In related news, EVP Oliver Tuszik sold 15,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total transaction of $952,950.00. Following the completion of the sale, the executive vice president now owns 131,676 shares in the company, valued at approximately $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the sale, the chief executive officer now owns 688,409 shares of the company's stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 72,931 shares of company stock valued at $4,671,930. 0.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Cisco Systems

Institutional investors have recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. purchased a new position in shares of Cisco Systems in the fourth quarter valued at $26,000. Navigoe LLC purchased a new position in Cisco Systems during the 4th quarter valued at about $26,000. Mpwm Advisory Solutions LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $26,000. JDM Financial Group LLC lifted its holdings in shares of Cisco Systems by 160.4% in the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock worth $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems in the fourth quarter valued at approximately $30,000. 73.33% of the stock is owned by hedge funds and other 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.

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