Cisco Systems, Inc. (NASDAQ:CSCO) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) have earned a consensus rating of “Hold” from the twenty-one brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $56.47.

Several equities analysts have recently commented on CSCO shares. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Wednesday, June 5th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 price objective for the company. Bank of America raised Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $55.00 to $60.00 in a research note on Monday, April 15th. Oppenheimer raised their price target on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Thursday, May 16th. Finally, Citigroup started coverage on shares of Cisco Systems in a research report on Friday, April 12th. They set a “neutral” rating and a $52.00 price objective on the stock.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The stock was 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 approximately $7,997,250.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the transaction, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,106 shares of company stock valued at $1,908,923. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

Several large investors have recently bought and sold shares of the business. Intact Investment Management Inc. grew its stake in shares of Cisco Systems by 10.5% in the second quarter. Intact Investment Management Inc. now owns 296,330 shares of the network equipment provider’s stock worth $14,079,000 after acquiring an additional 28,230 shares during the period. Integrity Financial Corp WA grew its position in Cisco Systems by 48.6% in the 2nd quarter. Integrity Financial Corp WA now owns 9,175 shares of the network equipment provider’s stock worth $436,000 after purchasing an additional 3,000 shares during the period. Fonville Wealth Management LLC purchased a new stake in Cisco Systems during the 2nd quarter valued at $216,000. Navalign LLC lifted its holdings in shares of Cisco Systems by 2.6% during the 2nd quarter. Navalign LLC now owns 16,273 shares of the network equipment provider’s stock valued at $773,000 after buying an additional 412 shares during the period. Finally, Bryn Mawr Capital Management LLC boosted its stake in shares of Cisco Systems by 9.7% in the 2nd quarter. Bryn Mawr Capital Management LLC now owns 434,279 shares of the network equipment provider’s stock worth $20,604,000 after buying an additional 38,502 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Trading Up 0.3 %

Shares of CSCO stock opened at $48.14 on Friday. The business has a 50-day moving average of $46.77 and a 200 day moving average of $48.32. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. Cisco Systems has a 1-year low of $44.95 and a 1-year high of $58.19. The stock has a market capitalization of $193.95 billion, a PE ratio of 16.21, a P/E/G ratio of 2.77 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last released 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 return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The business’s quarterly revenue was down 12.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Cisco Systems will post 3.14 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date was Friday, July 5th. Cisco Systems’s payout ratio is 53.87%.

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.