In yesterday’s Wall Street session, Cisco Systems Inc. (NASDAQ:CSCO) shares traded at $57.26, down -1.00% from the previous session.
CSCO stock price is now 7.91% away from the 50-day moving average and 14.95% away from the 200-day moving average. The market capitalization of the company currently stands at $231.36B.
With the price target enhanced from $54 to $58, Deutsche Bank maintained Hold rating for Cisco Systems Inc. (NASDAQ: CSCO).
In other news, Robbins Charles, Chair and CEO sold 17,687 shares of the company’s stock on Aug 18. The stock was sold for $975,617 at an average price of $55.16. Upon completion of the transaction, the Chair and CEO now directly owns 716,191 shares in the company, valued at $41.01 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 18, EVP & Chief Operating Officer Martinez Maria sold 10,000 shares of the business’s stock. A total of $551,849 was realized by selling the stock at an average price of $55.18. This leaves the insider owning 399,240 shares of the company worth $22.86 million. Insiders disposed of 777,473 shares of company stock worth roughly $44.52 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CSCO stock. A new stake in Cisco Systems Inc. shares was purchased by KINGSWOOD WEALTH ADVISORS, LLC during the first quarter worth $128,564,000. RENAISSANCE TECHNOLOGIES LLC invested $83,205,000 in shares of CSCO during the first quarter. In the first quarter, UNISUPER MANAGEMENT PTY LTD acquired a new stake in Cisco Systems Inc. valued at approximately $69,022,000. IA GLOBAL ASSET MANAGEMENT INC. acquired a new stake in CSCO for approximately $34,229,000. TREXQUANT INVESTMENT LP purchased a new stake in CSCO valued at around $18,581,000 in the second quarter. In total, there are 3,844 active investors with 74.90% ownership of the company’s stock.
On Tuesday morning Cisco Systems Inc. (NASDAQ: CSCO) stock kicked off with the opening price of $57.82. During the past 12 months, Cisco Systems Inc. has had a low of $38.60 and a high of $58.19. As of last week, the company has a debt-to-equity ratio of 0.20, a current ratio of 1.40, and a quick ratio of 1.30. According to the stock market information, the enterprise value for the company is $217.95B, which is based on a 18.65 price-to-earnings ratio, a 2.91 price-to-earnings-growth ratio, and a beta of 0.95. The fifty day moving average price for CSCO is $53.20 and a two-hundred day moving average price translates $49.87 for the stock.
The latest earnings results from Cisco Systems Inc. (NASDAQ: CSCO) was released for Jul, 2023. According to the Communication Equipment Company, earnings per share came in at $1.14, beating analysts’ expectations of $1.06 by 0.08. This compares to $0.68 EPS in the same period last year. The net profit margin was 19.80% and return on equity was 27.60% for CSCO. The company reported revenue of $15.2 billion for the quarter, compared to $13.1 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.04 percent. For the current quarter, analysts expect CSCO to generate $14.62B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 10/25/2023. Investors who held shares on 10/04/2023 were paid a $0.39 dividend. On an annualized basis, this represents a $1.56 dividend and a 2.72% percent yield. There was an ex-dividend date of 10/03/2023 for this dividend. In terms of dividend payout ratio, CSCO is presently at 55.10%.
Cisco Systems Inc.(CSCO) 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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization. In addition, it provides Internet for the future product consists of routed optical networking, 5G, silicon, and optics solutions; collaboration products, such as meetings, collaboration devices, calling, contact center, and communication platform as a service; end-to-end security product consists of network security, cloud security, security endpoints, unified threat management, and zero trust; and optimized application experiences products including full stack observability and cloud-native platform. Further, the company offers a range of service and support options for its customers, including technical support and advanced services and advisory services. It serves businesses of various sizes, public institutions, governments, and service providers. The company sells its products and services directly, as well as through systems integrators, service providers, other resellers, and distributors. Cisco Systems, Inc. has strategic alliances with other companies. Cisco Systems, Inc. was incorporated in 1984 and is headquartered in San Jose, California.
