Cisco Systems (NASDAQ:CSCO) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Cisco Systems (NASDAQ:CSCO) from a buy rating to a hold rating in a report released on Tuesday.

Several other equities analysts have also weighed in on CSCO. Evercore ISI upped their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Jefferies Financial Group dropped their price target on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, August 15th. Piper Sandler reissued a “neutral” rating and set a $52.00 target price on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Thirteen equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Cisco Systems has an average rating of “Hold” and an average target price of $56.74.

Cisco Systems Trading Up 0.6 %

NASDAQ CSCO opened at $56.16 on Tuesday. The stock has a market capitalization of $224.12 billion, a P/E ratio of 22.11, a P/E/G ratio of 4.60 and a beta of 0.83. The business has a 50 day simple moving average of $52.84 and a 200 day simple moving average of $49.21. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems has a one year low of $44.50 and a one year high of $57.06.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 EPS. Research analysts expect that Cisco Systems will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s payout ratio is currently 62.99%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at $2,376,085.52. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares in the company, valued at approximately $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. lifted its position in Cisco Systems by 226.9% during the first quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock valued at $1,319,000 after purchasing an additional 18,339 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Cisco Systems by 32.0% during the 1st quarter. Larson Financial Group LLC now owns 7,510 shares of the network equipment provider’s stock worth $375,000 after acquiring an additional 1,822 shares during the last quarter. SPC Financial Inc. grew its position in Cisco Systems by 3.6% in the first quarter. SPC Financial Inc. now owns 58,873 shares of the network equipment provider’s stock worth $2,938,000 after acquiring an additional 2,029 shares in the last quarter. Hemington Wealth Management increased its stake in Cisco Systems by 13.7% in the first quarter. Hemington Wealth Management now owns 6,346 shares of the network equipment provider’s stock valued at $317,000 after acquiring an additional 764 shares during the last quarter. Finally, Texas Permanent School Fund Corp lifted its stake in Cisco Systems by 0.4% during the first quarter. Texas Permanent School Fund Corp now owns 840,027 shares of the network equipment provider’s stock worth $41,926,000 after purchasing an additional 3,646 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

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.