Cisco Systems (NASDAQ:CSCO) Stock Price Down 0.5%

Cisco Systems, Inc. (NASDAQ:CSCO)’s share price was down 0.5% during trading on Monday . The stock traded as low as $46.28 and last traded at $46.43. Approximately 2,845,437 shares traded hands during trading, a decline of 85% from the average daily volume of 19,488,207 shares. The stock had previously closed at $46.65.

Analysts Set New Price Targets

Several equities research analysts have recently commented on CSCO shares. Barclays upped their price target on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, May 17th. Morgan Stanley started coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price target for the company. JPMorgan Chase & Co. started coverage on Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target for the company. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target for the company in a research note on Monday, May 13th. Finally, Piper Sandler restated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research note on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Price Performance

The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. The company has a market cap of $186.41 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 2.67 and a beta of 0.85. The company has a fifty day simple moving average of $46.90 and a two-hundred day simple moving average of $48.63.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.88 earnings per share. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the transaction, the chief executive officer now owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock valued at $1,908,923 over the last quarter. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

Hedge funds have recently modified their holdings of the stock. Valued Wealth Advisors LLC purchased a new stake in Cisco Systems during the 4th quarter worth approximately $32,000. Delos Wealth Advisors LLC increased its holdings in Cisco Systems by 1,666.7% during the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after purchasing an additional 600 shares during the last quarter. DiNuzzo Private Wealth Inc. purchased a new stake in Cisco Systems during the 4th quarter worth approximately $33,000. Morton Brown Family Wealth LLC increased its holdings in Cisco Systems by 41.9% during the 4th quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 208 shares during the last quarter. Finally, Bourgeon Capital Management LLC increased its holdings in Cisco Systems by 3,500.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock worth $36,000 after purchasing an additional 700 shares during the last quarter. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

About Cisco Systems

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.