Cisco Systems (NASDAQ:CSCO) Trading Up 1.1% – Here’s What Happened

Cisco Systems, Inc. (NASDAQ:CSCO)’s stock price shot up 1.1% during mid-day trading on Monday . The stock traded as high as $113.85 and last traded at $112.90. 22,637,306 shares changed hands during trading, a decline of 5% from the average daily volume of 23,794,912 shares. The stock had previously closed at $111.68.

Analyst Ratings Changes

A number of equities research analysts have commented on CSCO shares. KeyCorp increased their price target on Cisco Systems from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Thursday. New Street Research upped their price objective on shares of Cisco Systems from $82.00 to $122.00 and gave the company a “neutral” rating in a report on Thursday, May 14th. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $95.00 to $96.00 in a research report on Monday, May 11th. BNP Paribas Exane lifted their target price on shares of Cisco Systems from $87.00 to $132.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Finally, Wells Fargo & Company boosted their target price on shares of Cisco Systems from $130.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $129.43.

Cisco Systems Price Performance

The stock has a 50 day moving average of $117.03 and a 200-day moving average of $99.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.79 and a current ratio of 0.93. The company has a market cap of $444.99 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.38 and a beta of 1.02.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.05. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%.The business had revenue of $17.25 billion for the quarter, compared to analyst estimates of $16.84 billion. During the same period in the prior year, the company earned $0.99 earnings per share. The company’s revenue was up 17.6% on a year-over-year basis. Cisco Systems has set its FY 2027 guidance at 5.050-5.110 EPS and its Q1 2027 guidance at 1.320-1.340 EPS. Equities analysts predict that Cisco Systems, Inc. will post 4.09 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, October 2nd. Cisco Systems’s dividend payout ratio is presently 50.30%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Oliver Tuszik sold 2,607 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $121.12, for a total value of $315,759.84. Following the completion of the transaction, the executive vice president owned 172,727 shares of the company’s stock, valued at $20,920,694.24. The trade was a 1.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Charles Robbins sold 21,400 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $120.03, for a total value of $2,568,642.00. Following the sale, the chief executive officer directly owned 637,085 shares in the company, valued at approximately $76,469,312.55. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 31,134 shares of company stock worth $3,739,000. Insiders own 0.01% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

Hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Cisco Systems in the second quarter valued at about $42,129,647,000. Norges Bank acquired a new position in Cisco Systems during the fourth quarter worth about $4,473,272,000. Auto Owners Insurance Co grew its stake in Cisco Systems by 8,718.3% during the 4th quarter. Auto Owners Insurance Co now owns 51,952,421 shares of the network equipment provider’s stock valued at $400,190,000 after acquiring an additional 51,363,281 shares in the last quarter. Bank of America Corp DE purchased a new stake in Cisco Systems during the 2nd quarter valued at about $5,892,379,000. Finally, Bank of New York Mellon Corp acquired a new stake in Cisco Systems in the 2nd quarter valued at about $4,714,574,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.