Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) shares rose 0.8% on Friday. The stock reached a high of $47.86 and was last traded at $47.85. About 2,390,292 shares traded hands during trading, a decline of 88% from the average daily volume of 19,590,496 shares. The stock had previously closed at $47.45.
Analysts set new price targets
Several brokerage firms have recently commented on CSCO. JPMorgan Chase & Co. began coverage on Cisco Systems in a research note on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price target for the company. Barclays increased their price target on Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, May 17th. Oppenheimer increased their price target on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. BNP Paribas upgraded Cisco Systems from an “underperform” rating to a “neutral” rating and issued a $50.00 price target for the company in a research note on Monday, May 13th. Finally, StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23. One analyst has rated the stock with a “sell,” fifteen have given a “hold” rating, and six have given a “buy” rating. The company has an average rating of “hold” and a consensus price target of $56.47, according to data from MarketBeat.
Check out our latest analysis on Cisco Systems
Cisco Systems trading up 0.1%
The company has a debt-to-equity ratio of 0.44, a price-to-earnings ratio of 0.82 and a price-to-earnings ratio of 0.89. The company has a 50-day moving average of $47.06 and a 200-day moving average of $48.79. The stock has a market cap of $191.41 billion, a price-to-earnings ratio of 16.00, a PEG ratio of 2.75 and a beta of 0.85.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its quarterly earnings results on Wednesday, May 15. The networking equipment maker reported earnings per share of $0.88 for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. In the same quarter last year, the company reported earnings per share of $0.88. The company’s revenue declined 12.8% year-over-year. As a group, research analysts forecast that Cisco Systems, Inc. will report earnings per share of $3.14 for the current year.
Dividend announcement for Cisco Systems
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will receive a dividend of $0.40. This represents an annualized dividend of $1.60 and a dividend yield of 3.37%. The ex-dividend date is Friday, July 5th. Cisco Systems’ payout ratio is currently 53.87%.
Insider activity
In other news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction that occurred on Wednesday, May 29. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the CEO now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Deborah L. Stahlkopf sold 8,016 shares of the company’s stock in a transaction that occurred on Friday, May 17. 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 owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock on Wednesday, May 29. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The disclosure regarding this sale can be found here. In the last 90 days, insiders sold 41,106 shares of the company’s stock, valued at $1,908,923. 0.02% of the shares are owned by insiders.
Institutional investors comment on Cisco Systems
Several large investors have recently added to or reduced their stakes in the company. Bright Futures Wealth Management LLC. acquired a new stake in Cisco Systems in the 1st quarter valued at $1,784,000. Quent Capital LLC increased its position in Cisco Systems by 1.8% in the 1st quarter. Quent Capital LLC now owns 19,125 shares of the network equipment maker’s stock valued at $955,000 after buying an additional 329 shares during the same period. Old Port Advisors increased its position in Cisco Systems by 1.1% in the 1st quarter. Old Port Advisors now owns 56,217 shares of the network equipment maker’s stock valued at $2,806,000 after buying an additional 615 shares during the same period. Lazari Capital Management Inc. acquired a new position in Cisco Systems in the 1st quarter valued at $204,000. Finally, Cape Investment Advisory Inc. increased its position in Cisco Systems by 67.1% in the 1st quarter. Cape Investment Advisory Inc. now owns 3,188 shares of the network equipment maker’s stock worth $159,000 after purchasing an additional 1,280 shares during the same period. Institutional investors own 73.33% of the company’s stock.
Cisco Systems company profile
(Get free report)
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol-based networking and other products for the communications and information technology industries in the Americas, Europe, the Middle East, Africa, Asia Pacific, Japan, and China. The company’s switching portfolio includes campus switching as well as data center switching; its enterprise routing portfolio connects public and private fixed and cellular networks and provides highly secure and reliable connectivity for campus, data center, and branch office networks; its wireless products include wireless access points and controllers; and its computing portfolio includes the Cisco Unified Computing System, Hyperflex, and software management capabilities that combine computing, network, and storage infrastructure management and virtualization.
Further information
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