Cisco Systems, Inc. (NASDAQ: CSCO) experienced a slight decrease of 0.4% in its stock price on Thursday, closing at $47.09 after trading as low as $47.04. The trading volume was 8,118,296 shares, down 59% from the average daily volume. Analyst reports on the company have varied, with BNP Paribas upgrading Cisco Systems to a “neutral” rating and Deutsche Bank setting a price target of $52.00. The company’s performance in the market includes a market capitalization of $187.94 billion, a price-to-earnings ratio of 15.71, and a beta of 0.85.
In terms of its financial results, Cisco Systems last reported earnings on May 15th, surpassing the consensus estimate with earnings per share of $0.88 for the quarter. The company had a return on equity of 30.82% and a net margin of 21.88%. Additionally, Cisco Systems recently announced a quarterly dividend of $0.40, with a yield of 3.43%. Insider trading activities have also been noted, with senior vice presidents and executives selling shares in June.
Hedge funds and institutional investors have made recent changes to their positions in Cisco Systems, with notable increases in holdings. Charles Schwab Investment Management Inc., Bank of New York Mellon Corp, Norges Bank, Wellington Management Group LLP, and First Trust Advisors LP have all increased their positions in the company. Overall, hedge funds and institutional investors now own 73.33% of Cisco Systems’ shares.
Cisco Systems, Inc. specializes in designing, manufacturing, and selling networking and related products to various industries globally. Their product offerings include switching portfolios, enterprise routing technologies, wireless products, and computing solutions. In summary, Cisco Systems remains a prominent player in the networking and IT industries, with a solid financial standing and endorsements from analysts.
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