Cisco Systems (NASDAQ:CSCO) Shares Down 0.4%

Cisco Systems, Inc. (NASDAQ:CSCO)’s stock price was down 0.4% during mid-day trading on Thursday . The company traded as low as $47.04 and last traded at $47.09. Approximately 8,118,296 shares were traded during trading, a decline of 59% from the average daily volume of 19,658,074 shares. The stock had previously closed at $47.28.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CSCO. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Citigroup initiated coverage on Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective for the company. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 9th. Finally, Oppenheimer boosted their price objective on shares of Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Hold” and a consensus target price of $56.47.

Cisco Systems Stock Performance

The company has a market capitalization of $189.72 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85. The company’s 50 day moving average is $47.00 and its 200-day moving average is $48.74. 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 released its earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the business earned $0.88 earnings per share. The business’s revenue was down 12.8% on a year-over-year basis. Equities analysts anticipate that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles Robbins sold 26,331 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders sold 41,106 shares of company stock valued at $1,908,923 over the last 90 days. Corporate insiders own 0.02% of the company’s stock.

Institutional Trading of Cisco Systems

Large investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Cisco Systems during the fourth quarter valued at about $2,528,939,000. Swedbank AB purchased a new stake in Cisco Systems in the 1st quarter worth approximately $840,538,000. Charles Schwab Investment Management Inc. raised its stake in Cisco Systems by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after acquiring an additional 6,345,954 shares during the period. FIL Ltd lifted its holdings in Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock valued at $955,961,000 after purchasing an additional 6,054,748 shares in the last quarter. Finally, Natixis boosted its position in shares of Cisco Systems by 438.4% in the first quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after purchasing an additional 4,010,228 shares during the period. 73.33% of the stock is currently owned by 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.