Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report)'s share price shot up 1.1% during mid-day trading on Tuesday . The company traded as high as $63.84 and last traded at $63.79. 3,262,735 shares changed hands during trading, a decline of 84% from the average session volume of 20,267,536 shares. The stock had previously closed at $63.11.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on CSCO. Rosenblatt Securities boosted their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. BNP Paribas upgraded shares of Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 target price for the company in a report on Tuesday, January 28th. Piper Sandler increased their price target on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Barclays restated an "equal weight" rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $68.00.
Check Out Our Latest Stock Report on CSCO
Cisco Systems Stock Up 1.3%
The company's 50 day moving average price is $59.09 and its two-hundred day moving average price is $59.99. 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 market cap of $253.19 billion, a P/E ratio of 27.93, a PEG ratio of 4.16 and a beta of 0.89.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm had revenue of $14.15 billion for the quarter, compared to analysts' expectations of $14.05 billion. During the same quarter in the prior year, the business earned $0.88 EPS. The business's quarterly revenue was up 11.4% on a year-over-year basis. Equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.
Cisco Systems Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is currently 66.94%.
Cisco Systems announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.
Insider Buying and Selling at Cisco Systems
In related news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total value of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares of the company's stock, valued at approximately $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeetendra I. Patel sold 9,961 shares of the firm's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the transaction, the insider now directly owns 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This trade represents a 3.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,431 shares of company stock valued at $1,421,356 in the last three months. 0.01% of the stock is currently owned by corporate insiders.
Institutional Trading of Cisco Systems
Several institutional investors and hedge funds have recently made changes to their positions in the business. FPC Investment Advisory Inc. purchased a new stake in Cisco Systems in the fourth quarter worth about $26,000. Navigoe LLC purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $26,000. Mpwm Advisory Solutions LLC purchased a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. JDM Financial Group LLC lifted its position in shares of Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after buying an additional 300 shares in the last quarter. Finally, Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems during the 4th quarter valued at approximately $30,000. 73.33% of the stock is currently owned by institutional investors.
Cisco Systems Company Profile
(
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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