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Cisco Systems (NASDAQ:CSCO) share price fell 0.8%

Cisco Systems (NASDAQ:CSCO) share price fell 0.8%
Cisco Systems (NASDAQ:CSCO) share price fell 0.8%


Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) shares fell 0.8% in trading on Wednesday. The company traded as high as $46.96 and was last seen at $46.99. About 1,968,147 shares changed hands during midday trading, a 90% decline from the average daily volume of 19,658,002 shares. The stock had previously closed at $47.38.

Changes in analyst ratings

CSCO has been the subject of a number of research reports. Citigroup initiated coverage on Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 price target for the company. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Bank of America upgraded Cisco Systems from a “neutral” rating to a “buy” rating in a research note on Monday, April 15th and increased their price target for the company from $55.00 to $60.00. JPMorgan Chase & Co. assumed 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. Finally, Wells Fargo & Company increased their price target on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research note on Thursday, May 16. One equities analyst has rated the stock with a “sell,” fifteen have given a “hold” rating, and six have given a “buy” rating. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $56.47.

Check out our latest report on CSCO

Price-performance ratio at Cisco Systems

The company has a 50-day moving average price of $47.09 and a 200-day moving average price of $48.82. The company has a market cap of $191.17 billion, a price to earnings ratio of 15.98, a PEG ratio of 2.71 and a beta of 0.85. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its earnings results on Wednesday, May 15. The networking equipment maker reported earnings per share (EPS) of $0.88 for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. The company had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems posted a return on equity of 30.82% and a net margin of 21.88%. The company’s revenue for the quarter declined 12.8% year-over-year. In the same quarter last year, the company posted earnings per share of $0.88. As a group, research analysts expect Cisco Systems, Inc. to report earnings per share of $3.14 for the current fiscal year.

Dividend announcement for Cisco Systems

The company also recently announced 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’ dividend payout ratio (DPR) is currently 53.87%.

Insiders place their bets

In other Cisco Systems 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 transaction of $386,691.84. Following the transaction, 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 document filed with the Securities & Exchange Commission, which is available at this link. In other Cisco Systems 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 transaction of $386,691.84. Following the completion of 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction dated Thursday, June 13. The shares were 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 disclosure regarding this sale can be found here. Insiders have sold 41,106 shares of the company’s stock, valued at $1,908,923, in the last three months. 0.02% of the shares are currently owned by insiders.

Institutional investors comment on Cisco Systems

Hedge funds have recently made changes to their positions in the stock. Mcintyre Freedman & Flynn Investment Advisers Inc. increased its stake in Cisco Systems by 0.3% in the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the networking equipment maker’s stock worth $3,019,000 after buying an additional 202 shares during the same period. Hyman Charles D increased its stake in Cisco Systems by 0.3% in the fourth quarter. Hyman Charles D now owns 70,727 shares of the networking equipment maker’s stock worth $3,573,000 after buying an additional 203 shares during the same period. Madrona Financial Services LLC increased its stake in Cisco Systems by 2.4% in the fourth quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment maker’s stock valued at $453,000 after purchasing an additional 207 shares during the period. Morton Brown Family Wealth LLC increased its stake in Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment maker’s stock valued at $36,000 after purchasing an additional 208 shares during the period. Finally, Baker Boyer National Bank increased its stake in Cisco Systems by 2.6% in the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment maker’s stock valued at $411,000 after purchasing an additional 210 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

About Cisco Systems

(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.

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