Cisco Systems (NASDAQ:CSCO) Trading Down 0.8%

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) dropped 0.8% during mid-day trading on Wednesday . The company traded as low as $46.96 and last traded at $46.99. Approximately 1,968,147 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 19,658,002 shares. The stock had previously closed at $47.38.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the company a “hold” rating in a research note on Tuesday, April 9th. Morgan Stanley assumed coverage on shares of Cisco Systems in a research note on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Monday, June 10th. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Finally, Citigroup assumed coverage on shares of Cisco Systems in a research note on Friday, April 12th. They set a “neutral” rating and a $52.00 target price for the company. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $56.47.

Cisco Systems Trading Down 0.5 %

The company’s 50-day moving average price is $47.11 and its 200-day moving average price is $48.83. The firm has a market cap of $189.88 billion, a price-to-earnings ratio of 15.91, a price-to-earnings-growth ratio of 2.74 and a beta of 0.85. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. Cisco Systems’s quarterly revenue was down 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.88 earnings per share. Equities analysts expect that Cisco Systems, Inc. will post 3.14 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company 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 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity

In related news, 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 value of $155,016.42. Following the completion of the transaction, the senior vice president now owns 52,953 shares in the company, valued at $2,430,013.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 8,016 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now directly owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 3,378 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the transaction, the senior vice president now owns 52,953 shares in the company, valued at $2,430,013.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,106 shares of company stock valued at $1,908,923. Company insiders own 0.02% of the company’s stock.

Institutional Trading of Cisco Systems

A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $2,528,939,000. Swedbank AB acquired a new position in Cisco Systems in the 1st quarter valued at approximately $840,538,000. Charles Schwab Investment Management Inc. grew its position in Cisco Systems by 9.5% in 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 acquiring an additional 6,345,954 shares in the last quarter. FIL Ltd grew its position in Cisco Systems by 47.1% in the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after acquiring an additional 6,054,748 shares in the last quarter. Finally, Natixis boosted its holdings in shares of Cisco Systems by 438.4% during the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock worth $245,806,000 after buying an additional 4,010,228 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.

About Cisco Systems

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.