Cisco Systems (NASDAQ:CSCO) Stock Price Up 0.8%

Cisco Systems, Inc. (NASDAQ:CSCO) shares shot up 0.8% during mid-day trading on Thursday . The company traded as high as $46.85 and last traded at $46.65. 2,941,327 shares traded hands during trading, a decline of 85% from the average session volume of 19,465,752 shares. The stock had previously closed at $46.27.

Analysts Set New Price Targets

A number of brokerages have weighed in on CSCO. Wells Fargo & Company lifted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. assumed coverage on shares of Cisco Systems in a research report on Monday, April 22nd. They set 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 report on Friday, May 17th. Morgan Stanley began coverage on Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 price objective on the stock. Finally, Oppenheimer raised their target price on Cisco Systems from $54.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus price target of $56.47.

Cisco Systems Trading Up 1.1 %

The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44. The company has a market cap of $188.39 billion, a price-to-earnings ratio of 15.71, a price-to-earnings-growth ratio of 2.67 and a beta of 0.85. The firm has a 50-day moving average price of $46.89 and a 200 day moving average price of $48.61.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.14 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 3.42%. The ex-dividend date is Friday, July 5th. Cisco Systems’s payout ratio is currently 53.87%.

Insider Transactions at Cisco Systems

In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total transaction of $118,745.46. Following the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 41,106 shares of company stock valued at $1,908,923. 0.02% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Cisco Systems by 9.5% during the fourth 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 purchasing an additional 6,345,954 shares during the period. Bank of New York Mellon Corp boosted its stake 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 valued at $3,417,011,000 after buying an additional 2,386,508 shares during the period. Norges Bank purchased a new position in shares of Cisco Systems during the 4th quarter valued at $2,528,939,000. Wellington Management Group LLP increased its stake in shares of Cisco Systems by 7.6% in the fourth quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock worth $2,384,334,000 after acquiring an additional 3,314,330 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Cisco Systems by 12.3% during the fourth quarter. First Trust Advisors LP now owns 24,941,271 shares of the network equipment provider’s stock worth $1,260,033,000 after acquiring an additional 2,723,260 shares in the last quarter. 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.