Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) was up 4.8% on Friday . The stock traded as high as $97.02 and last traded at $96.57. Approximately 24,501,216 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 22,190,219 shares. The stock had previously closed at $92.16.
Trending Headlines about Cisco Systems
Here are the key news stories impacting Cisco Systems this week:
Analyst Ratings Changes
Several research firms have weighed in on CSCO. Wall Street Zen lowered Cisco Systems from a "buy" rating to a "hold" rating in a report on Saturday, March 14th. Citigroup increased their price objective on shares of Cisco Systems from $85.00 to $90.00 and gave the company a "buy" rating in a research note on Thursday, February 12th. CICC Research upped their price target on shares of Cisco Systems from $84.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, February 13th. HSBC raised their price objective on shares of Cisco Systems from $74.00 to $77.00 and gave the stock a "hold" rating in a research note on Friday, February 13th. Finally, Truist Financial initiated coverage on Cisco Systems in a research report on Tuesday, March 31st. They set a "buy" rating and a $94.00 price target for the company. Three equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.29.
View Our Latest Stock Report on Cisco Systems
Cisco Systems Stock Performance
The stock has a 50-day simple moving average of $82.32 and a 200-day simple moving average of $78.56. The stock has a market cap of $381.44 billion, a PE ratio of 33.88, a P/E/G ratio of 3.44 and a beta of 0.92. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.85.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.02. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The business had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. During the same period in the previous year, the company posted $0.94 EPS. The company's revenue was up 9.7% compared to the same quarter last year. Equities analysts predict that Cisco Systems, Inc. will post 3.42 earnings per share for the current fiscal year.
Cisco Systems Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 2nd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.7%. This is a boost from Cisco Systems's previous quarterly dividend of $0.41. Cisco Systems's payout ratio is 58.95%.
Insider Activity at Cisco Systems
In other news, EVP Deborah L. Stahlkopf sold 7,981 shares of the company's stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total value of $634,489.50. Following the completion of the sale, the executive vice president owned 187,097 shares of the company's stock, valued at $14,874,211.50. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 2,179 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $77.74, for a total transaction of $169,395.46. Following the completion of the sale, the senior vice president directly owned 28,807 shares of the company's stock, valued at $2,239,456.18. This trade represents a 7.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 46,431 shares of company stock valued at $3,574,820 over the last 90 days. Corporate insiders own 0.01% of the company's stock.
Hedge Funds Weigh In On Cisco Systems
A number of institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in Cisco Systems by 3.7% in the first quarter. PNC Financial Services Group Inc. now owns 6,607,314 shares of the network equipment provider's stock valued at $512,661,000 after purchasing an additional 237,187 shares during the last quarter. Oslo Pensjonsforsikring AS purchased a new stake in Cisco Systems during the 1st quarter worth approximately $1,296,000. HORAN Wealth LLC raised its position in shares of Cisco Systems by 1.2% in the 1st quarter. HORAN Wealth LLC now owns 12,146 shares of the network equipment provider's stock valued at $939,000 after purchasing an additional 146 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in shares of Cisco Systems by 4.5% in the 1st quarter. Baader Bank Aktiengesellschaft now owns 12,963 shares of the network equipment provider's stock valued at $1,006,000 after purchasing an additional 553 shares in the last quarter. Finally, DJE Kapital AG boosted its stake in shares of Cisco Systems by 267,444.9% during the 1st quarter. DJE Kapital AG now owns 655,485 shares of the network equipment provider's stock valued at $50,575,000 after buying an additional 655,240 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.
About Cisco Systems
(
Get Free Report)
Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.
In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.
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