Cisco Systems, Inc. shares experienced a 0.4% decline during Friday’s trading, reaching $46.49. The trading volume was significantly lower than the average, with 2,425,772 shares changing hands. Analyst ratings for CSCO stock have varied recently, with multiple firms changing their recommendations. The company’s stock currently has an average rating of “hold” and an average price target of $56.47.
The company’s fifty-day and two-hundred-day simple moving averages are $46.96 and $48.69, respectively. Cisco Systems recently reported earnings, surpassing expectations with $0.88 earnings per share for the quarter and revenues of $12.7 billion. It is forecasted to post earnings per share of $3.14 for the current fiscal year. Additionally, the company announced a quarterly dividend of $0.40 per share, representing a dividend yield of 3.43%.
Insider transactions have occurred, with Senior Vice President Maria Victoria Wong and Executive Vice President Deborah L. Stahlkopf selling shares of Cisco Systems stock. Institutional investors have also made moves, with some increasing their stakes in the company.
Cisco Systems, Inc. is a multinational corporation that designs, manufactures, and sells Internet Protocol-based networking products worldwide. The company offers a range of products including switching, routing, wireless, computing, and software management capabilities. Cisco Systems serves various industries across the globe, providing secure and reliable connectivity solutions.
Overall, Cisco Systems continues to navigate the market with changes in stock performance, analyst ratings, earnings reports, dividends, and insider transactions. The company maintains a strong presence in the networking industry, catering to a diverse set of clients and investors.
Article Source
https://www.defenseworld.net/2024/07/07/cisco-systems-nasdaqcsco-trading-down-0-4.html
