Cisco Systems (NASDAQ:CSCO) Trading Up 1.3% - Still a Buy?

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) rose 1.3% during mid-day trading on Thursday . The company traded as high as $69.29 and last traded at $69.04. Approximately 4,273,219 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 21,784,453 shares. The stock had previously closed at $68.18.

Wall Street Analysts Forecast Growth

CSCO has been the topic of several analyst reports. KeyCorp started coverage on Cisco Systems in a research report on Thursday, June 26th. They issued an "overweight" rating and a $77.00 target price on the stock. JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Wells Fargo & Company raised Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $72.00 to $75.00 in a report on Thursday, May 15th. Piper Sandler boosted their price target on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. Finally, Evercore ISI increased their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and a consensus price target of $69.53.

Cisco Systems Stock Up 2.2%

The firm has a 50 day moving average of $63.41 and a 200-day moving average of $61.30. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The stock has a market capitalization of $275.85 billion, a P/E ratio of 28.35, a price-to-earnings-growth ratio of 4.13 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the company earned $0.88 earnings per share. The business's revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced 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. This represents a $1.64 annualized dividend and a dividend yield of 2.35%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's payout ratio is currently 66.94%.

Insider Buying and Selling

In other Cisco Systems news, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total transaction of $1,027,222.56. Following the sale, the chief financial officer owned 309,543 shares of the company's stock, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the transaction, the executive vice president owned 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. In the last quarter, insiders have sold 97,335 shares of company stock valued at $6,271,054. Insiders own 0.01% of the company's stock.

Hedge Funds Weigh In On Cisco Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of CSCO. Brighton Jones LLC grew its holdings in Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after purchasing an additional 24,562 shares during the period. Revolve Wealth Partners LLC lifted its holdings in Cisco Systems by 37.0% during the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after acquiring an additional 2,474 shares in the last quarter. Meridian Wealth Management LLC grew its stake in Cisco Systems by 2.9% in the fourth quarter. Meridian Wealth Management LLC now owns 21,563 shares of the network equipment provider's stock valued at $1,276,000 after acquiring an additional 611 shares during the period. Synergy Investment Management LLC acquired a new stake in shares of Cisco Systems during the fourth quarter worth about $36,000. Finally, Exencial Wealth Advisors LLC lifted its holdings in shares of Cisco Systems by 0.6% during the 4th quarter. Exencial Wealth Advisors LLC now owns 37,401 shares of the network equipment provider's stock valued at $2,214,000 after purchasing an additional 214 shares in the last quarter. 73.33% of the stock is owned by 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.