Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report)'s stock price rose 0.3% during mid-day trading on Thursday . The company traded as high as $63.48 and last traded at $63.39. Approximately 3,599,434 shares changed hands during trading, a decline of 82% from the average daily volume of 20,265,266 shares. The stock had previously closed at $63.20.
Analyst Ratings Changes
CSCO has been the subject of several research reports. New Street Research restated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research report on Friday, May 16th. UBS Group upped their price target on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Citigroup upped their target price on Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday, May 15th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Finally, Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $68.00.
Check Out Our Latest Analysis on Cisco Systems
Cisco Systems Stock Performance
The stock has a fifty day simple moving average of $58.95 and a 200-day simple moving average of $59.83. The stock has a market cap of $252.88 billion, a P/E ratio of 27.74, a PEG ratio of 4.16 and a beta of 0.89. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. The company had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 EPS. On average, equities analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.58%. Cisco Systems's dividend payout ratio is 66.94%.
Cisco Systems declared that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.
Insider Transactions at Cisco Systems
In related news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.97, for a total value of $637,205.17. Following the transaction, the insider now directly owns 257,162 shares of the company's stock, valued at $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president now directly owns 181,186 shares of the company's stock, valued at $11,505,311. This trade represents a 5.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,239 shares of company stock valued at $2,181,437. 0.01% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Cisco Systems
Several large investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC raised its stake in Cisco Systems by 2.9% during the first quarter. Ashton Thomas Securities LLC now owns 5,654 shares of the network equipment provider's stock worth $349,000 after buying an additional 159 shares during the last quarter. Greenline Partners LLC lifted its stake in shares of Cisco Systems by 0.5% in the 1st quarter. Greenline Partners LLC now owns 32,570 shares of the network equipment provider's stock valued at $2,010,000 after purchasing an additional 162 shares during the period. Pflug Koory LLC boosted its position in shares of Cisco Systems by 0.5% during the 4th 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 in the last quarter. Glass Jacobson Investment Advisors llc grew its stake in Cisco Systems by 8.7% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after purchasing an additional 166 shares during the period. Finally, Fairhaven Wealth Management LLC lifted its stake in Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock valued at $449,000 after buying an additional 167 shares during the period. 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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