The stock of Cisco Systems Inc. (NASDAQ:CSCO) last traded at $55.44, up 0.73% from the previous session.
Data from the available sources indicates that Cisco Systems Inc. (NASDAQ:CSCO) is covered by 27 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $68.00 and a low of $45.00, we find $58.00. Given the previous closing price of $55.04, this indicates a potential upside of 5.38 percent. CSCO stock price is now 6.63% away from the 50-day moving average and 12.61% away from the 200-day moving average. The market capitalization of the company currently stands at $224.65B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
In total, 16 analysts have assigned it a hold rating, and 8 have given it a buy rating. Brokers who have rated the stock have averaged $57.97 as their price target over the next twelve months.
With the price target enhanced from $54 to $58, Deutsche Bank maintained Hold rating for Cisco Systems Inc. (NASDAQ: CSCO).
In other news, Martinez Maria, EVP & Chief Operating Officer sold 10,000 shares of the company’s stock on Jun 22. The stock was sold for $508,798 at an average price of $50.88. Upon completion of the transaction, the EVP & Chief Operating Officer now directly owns 414,033 shares in the company, valued at $22.95 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 22, EVP and CFO Herren Richard Scott sold 2,579 shares of the business’s stock. A total of $130,626 was realized by selling the stock at an average price of $50.65. This leaves the insider owning 281,493 shares of the company worth $15.61 million. Insiders disposed of 791,887 shares of company stock worth roughly $43.9 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 PORTSIDE WEALTH GROUP, LLC during the first quarter worth $296,483,000. KINGSWOOD WEALTH ADVISORS, LLC invested $124,478,000 in shares of CSCO during the first quarter. In the first quarter, RENAISSANCE TECHNOLOGIES LLC acquired a new stake in Cisco Systems Inc. valued at approximately $80,560,000. UNISUPER MANAGEMENT PTY LTD acquired a new stake in CSCO for approximately $66,828,000. IA GLOBAL ASSET MANAGEMENT INC. purchased a new stake in CSCO valued at around $33,141,000 in the second quarter. In total, there are 3,844 active investors with 74.90% ownership of the company’s stock.
With an opening price of $55.20 on Monday morning, Cisco Systems Inc. (NASDAQ: CSCO) set off the trading day. During the past 12 months, Cisco Systems Inc. has had a low of $38.60 and a high of $55.83. 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 $208.17B, which is based on a 18.05 price-to-earnings ratio, a 2.50 price-to-earnings-growth ratio, and a beta of 0.94. The fifty day moving average price for CSCO is $51.99 and a two-hundred day moving average price translates $49.23 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 $1.05, beating analysts’ expectations of $0.97 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 $13.42B 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 2.81% 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%.
