Cisco Systems (NASDAQ:CSCO) Stock Price Up 0.3%

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) were up 0.3% during mid-day trading on Wednesday . The company traded as high as $46.28 and last traded at $45.94. Approximately 2,996,234 shares traded hands during trading, a decline of 85% from the average daily volume of 19,471,732 shares. The stock had previously closed at $45.80.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Monday, June 10th. Oppenheimer raised their price target on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. 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. Wells Fargo & Company upped their price objective on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.47.

Cisco Systems Trading Up 1.1 %

The company has a market cap of $188.39 billion, a P/E ratio of 15.74, a P/E/G ratio of 2.68 and a beta of 0.85. The business’s 50-day moving average price is $46.89 and its 200 day moving average price is $48.60. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share 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 company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same period in the prior year, the firm earned $0.88 earnings per share. The company’s revenue was down 12.8% on a year-over-year basis. As a group, analysts expect that Cisco Systems, Inc. will post 3.14 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 annualized dividend and a yield of 3.42%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Charles Robbins sold 26,331 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the transaction, 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. Insiders have sold 41,106 shares of company stock worth $1,908,923 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. OLD National Bancorp IN increased its holdings in shares of Cisco Systems by 2.4% during the second quarter. OLD National Bancorp IN now owns 224,840 shares of the network equipment provider’s stock worth $10,682,000 after buying an additional 5,376 shares in the last quarter. CCM Investment Advisers LLC boosted its stake in shares of Cisco Systems by 5.4% during the second quarter. CCM Investment Advisers LLC now owns 288,291 shares of the network equipment provider’s stock valued at $13,697,000 after purchasing an additional 14,873 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Cisco Systems during the second quarter worth $42,666,000. BDF Gestion bought a new position in Cisco Systems during the second quarter worth $5,741,000. Finally, Talbot Financial LLC boosted its position in Cisco Systems by 2.2% during the second quarter. Talbot Financial LLC now owns 186,371 shares of the network equipment provider’s stock valued at $8,854,000 after acquiring an additional 4,025 shares during the last quarter. 73.33% of the stock is owned by 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.