Cisco Systems (NASDAQ:CSCO) Stock Price Up 2.2% – Here’s Why

Cisco Systems, Inc. (NASDAQ:CSCO)’s stock price traded up 2.2% during mid-day trading on Monday . The stock traded as high as $65.62 and last traded at $65.47. 5,003,775 shares changed hands during trading, a decline of 75% from the average session volume of 20,103,269 shares. The stock had previously closed at $64.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CSCO shares. Evercore ISI upped their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, May 15th. Piper Sandler upped their price objective on shares of Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 16th. DZ Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Finally, Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.11.

Cisco Systems Trading Up 2.1%

The company has a market capitalization of $259.20 billion, a PE ratio of 28.61, a P/E/G ratio of 4.16 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The firm’s 50 day moving average is $60.47 and its 200 day moving average is $60.58.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, equities analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.51%. Cisco Systems’s dividend payout ratio (DPR) is presently 66.94%.

Insider Activity

In related news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the transaction, the insider now directly owns 257,162 shares of the company’s stock, valued at $16,450,653.14. This trade represents a 3.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the company’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total transaction of $1,924,344.24. Following the completion of the sale, the chief executive officer now owns 688,409 shares in the company, valued at approximately $44,478,105.49. This trade represents a 4.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,931 shares of company stock valued at $4,671,930. Corporate insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

Several hedge funds have recently added to or reduced their stakes in the stock. Ashton Thomas Securities LLC grew its position in Cisco Systems by 2.9% during the 1st quarter. Ashton Thomas Securities LLC now owns 5,654 shares of the network equipment provider’s stock valued at $349,000 after purchasing an additional 159 shares during the last quarter. Greenline Partners LLC increased its position in shares of Cisco Systems by 0.5% during the first quarter. Greenline Partners LLC now owns 32,570 shares of the network equipment provider’s stock valued at $2,010,000 after acquiring an additional 162 shares in the last quarter. Glass Jacobson Investment Advisors llc boosted its stake in Cisco Systems by 8.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after purchasing an additional 166 shares during the last quarter. Fairhaven Wealth Management LLC raised its stake in shares of Cisco Systems by 2.3% in the fourth quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock worth $449,000 after purchasing an additional 167 shares during the last quarter. Finally, BlackDiamond Wealth Management LLC lifted its holdings in shares of Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock valued at $335,000 after purchasing an additional 168 shares in 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.