Cisco Systems (NASDAQ:CSCO) Shares Up 0% – Here’s Why

Cisco Systems, Inc. (NASDAQ:CSCO) shares traded up 0% on Monday . The company traded as high as $60.98 and last traded at $60.52. 2,606,155 shares traded hands during trading, a decline of 87% from the average session volume of 19,773,346 shares. The stock had previously closed at $60.50.

Analyst Ratings Changes

CSCO has been the subject of a number of analyst reports. The Goldman Sachs Group boosted their price target on Cisco Systems from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a research note on Tuesday, January 28th. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Wells Fargo & Company reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, JPMorgan Chase & Co. boosted their price target on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Cisco Systems Price Performance

The company has a fifty day moving average of $61.86 and a 200 day moving average of $57.94. The firm has a market capitalization of $239.89 billion, a P/E ratio of 26.33, a PEG ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 2.72%. Cisco Systems’s dividend payout ratio is presently 71.62%.

Cisco Systems declared that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CFO Richard Scott Herren sold 19,929 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now directly owns 335,605 shares of the company’s stock, valued at approximately $21,616,318.05. The trade was a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cisco Systems

A number of institutional investors have recently modified their holdings of CSCO. State Street Corp grew its holdings in Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after buying an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC grew its holdings in Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after buying an additional 1,262,017 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after buying an additional 1,677,383 shares in the last quarter. FMR LLC grew its holdings in Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider’s stock worth $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Finally, Norges Bank bought a new stake in Cisco Systems during the fourth quarter worth $3,297,905,000. 73.33% of the stock is owned by institutional investors and hedge funds.

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.