Cisco Systems (NASDAQ:CSCO) Trading 0.1% Higher

Cisco Systems, Inc. (NASDAQ:CSCO) was up 0.1% on Thursday . The stock traded as high as $50.93 and last traded at $50.51. Approximately 3,987,635 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 19,815,168 shares. The stock had previously closed at $50.45.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. Rosenblatt Securities boosted their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Oppenheimer boosted their target price on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. increased their target price on Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Hold” and a consensus price target of $55.89.

Cisco Systems Price Performance

The firm has a 50 day moving average price of $47.01 and a 200-day moving average price of $47.88. The firm has a market capitalization of $203.05 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 2.97 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 EPS. On average, analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.17%. Cisco Systems’s payout ratio is currently 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 22,309 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the sale, the chief financial officer now directly owns 293,184 shares in the company, valued at approximately $14,659,200. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Richard Scott Herren sold 22,309 shares of the business’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the sale, the chief financial officer now directly owns 293,184 shares in the company, valued at approximately $14,659,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total transaction of $118,745.46. Following the completion of the sale, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,004 shares of company stock valued at $4,348,600. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Cisco Systems

Several hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC purchased a new stake in Cisco Systems in the second quarter valued at approximately $25,000. Quarry LP raised its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the period. Delos Wealth Advisors LLC increased its position in Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock valued at $32,000 after acquiring an additional 600 shares during the period. DiNuzzo Private Wealth Inc. bought a new position in Cisco Systems in the 4th quarter valued at about $33,000. Finally, Retirement Group LLC boosted its holdings in shares of Cisco Systems by 56.8% in the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other 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.