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Cisco Systems (CSCO) Stock Price Decreases by 0.8% on NASDAQ

Cisco Systems (CSCO) Stock Price Decreases by 0.8% on NASDAQ



Cisco Systems, Inc. (NASDAQ:CSCO) experienced a 0.8% decrease in share price during Wednesday’s trading. The stock was trading at $46.96 and last traded at $46.99, with a decrease in trading volume compared to the average daily volume. Analyst ratings for CSCO have varied, with some upgrades and downgrades from companies such as Citigroup, StockNews.com, Bank of America, JPMorgan Chase & Co., and Wells Fargo & Company. The stock currently has a consensus rating of “Hold” and a price target of $56.47.

In terms of financial performance, Cisco Systems reported earnings results on May 15th, surpassing analyst expectations with an EPS of $0.88. The company’s revenue for the quarter was $12.70 billion, slightly exceeding estimates. Despite a revenue decrease year over year, Cisco Systems achieved a return on equity of 30.82% and a net margin of 21.88%. The company also announced a quarterly dividend, with shareholders set to receive $0.40 per share on July 24th.

Insider activity within Cisco Systems has seen executives selling shares, with Executive Vice President Deborah L. Stahlkopf making significant transactions. Institutional investors have also adjusted their positions in the stock, with notable changes from Mcintyre Freedman & Flynn Investment Advisers Inc., Hyman Charles D, Madrona Financial Services LLC, Morton Brown Family Wealth LLC, and Baker Boyer National Bank.

Cisco Systems, Inc. operates within the information and communications technology industry, offering a range of products including Internet protocol-based networks, switching portfolios, wireless products, and computing solutions. Covering regions across the globe, Cisco aims to provide secure and reliable connectivity for various networks and infrastructures. For investors interested in staying updated on Cisco Systems news and ratings, MarketBeat.com offers a daily email newsletter for stock analysis and insights.

Article Source
https://www.defenseworld.net/2024/06/28/cisco-systems-nasdaqcsco-stock-price-down-0-8.html

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