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

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

A number of other analysts have also recently issued reports on CSCO. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. JPMorgan Chase & Co. boosted their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Evercore ISI boosted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Thirteen analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $56.74.

Cisco Systems Stock Up 0.4 %

Shares of Cisco Systems stock opened at $58.08 on Tuesday. Cisco Systems has a 12 month low of $44.50 and a 12 month high of $58.30. The business has a fifty day simple moving average of $53.00 and a 200 day simple moving average of $49.27. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $231.78 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83.

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

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were paid a $0.40 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.75%. Cisco Systems’s dividend payout ratio is 62.99%.

Insider Transactions at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of Cisco Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cisco Systems

A number of institutional investors have recently made changes to their positions in CSCO. Aviso Wealth Management boosted its stake in Cisco Systems by 2.4% in the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock valued at $405,000 after purchasing an additional 181 shares during the period. Waypoint Capital Advisors LLC lifted its holdings in shares of Cisco Systems by 2.9% during the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider’s stock worth $346,000 after buying an additional 182 shares in the last quarter. Andina Capital Management LLC boosted its position in shares of Cisco Systems by 3.6% in the third quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider’s stock valued at $279,000 after acquiring an additional 182 shares during the period. Meridian Financial Partners LLC grew its stake in shares of Cisco Systems by 3.8% in the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider’s stock valued at $267,000 after acquiring an additional 185 shares in the last quarter. Finally, Gleason Group Inc. increased its position in Cisco Systems by 0.9% during the third quarter. Gleason Group Inc. now owns 22,683 shares of the network equipment provider’s stock worth $1,207,000 after acquiring an additional 193 shares during the period. Institutional investors 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.