Cisco Systems (NASDAQ:CSCO) Trading Down 0.9%

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report)’s stock price dropped 0.9% during trading on Thursday . The company traded as low as $45.12 and last traded at $45.19. Approximately 3,244,710 shares were traded during trading, a decline of 83% from the average daily volume of 19,350,895 shares. The stock had previously closed at $45.62.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Monday. Wells Fargo & Company lifted their target price on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a report on Thursday, May 16th. Barclays lifted their target price on Cisco Systems from $48.00 to $50.00 and gave the stock an “equal weight” rating in a report on Friday, May 17th. Citigroup assumed coverage on Cisco Systems in a report on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price on the stock. Finally, StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $56.47.

Check Out Our Latest Analysis on Cisco Systems

Cisco Systems Stock Down 0.3 %

The company has a market cap of $183.19 billion, a P/E ratio of 15.22, a P/E/G ratio of 2.65 and a beta of 0.85. 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 business’s 50 day moving average is $47.52 and its 200 day moving average is $48.93.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s revenue for the quarter was down 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 earnings per share. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is presently 53.87%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.24, for a total value of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at $8,717,209.20. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, EVP Deborah L. Stahlkopf sold 8,016 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares in the company, valued at $2,430,013.17. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,725 shares of company stock valued at $1,755,567. Corporate insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

Several hedge funds have recently modified their holdings of CSCO. Charles Schwab Investment Management Inc. raised its holdings in Cisco Systems by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock valued at $3,672,445,000 after acquiring an additional 6,345,954 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Cisco Systems by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 68,463,463 shares of the network equipment provider’s stock worth $3,417,011,000 after purchasing an additional 2,386,508 shares during the period. FMR LLC boosted its position in shares of Cisco Systems by 3.2% during the 3rd quarter. FMR LLC now owns 57,102,221 shares of the network equipment provider’s stock worth $3,069,815,000 after purchasing an additional 1,790,717 shares during the period. Northern Trust Corp boosted its position in shares of Cisco Systems by 3.8% during the 3rd quarter. Northern Trust Corp now owns 50,549,422 shares of the network equipment provider’s stock worth $2,717,537,000 after purchasing an additional 1,847,682 shares during the period. Finally, Norges Bank purchased a new position in shares of Cisco Systems during the 4th quarter worth approximately $2,528,939,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

About Cisco Systems

(Get Free Report)

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.

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