Cisco Systems, Inc. (NASDAQ: CSCO) saw a slight decrease in trading during midday on Tuesday, with the stock trading down 0.3% to $47.36. Analysts have recently upgraded their ratings on the company, with BNP Paribas moving from an “underperform” to a “neutral” rating. JPMorgan Chase & Co. initiated coverage on Cisco Systems with a “neutral” rating, while Barclays raised their price target. The company’s market capitalization is $189.72 billion, with a price-to-earnings ratio of 15.86 and a beta of 0.85.
In terms of financial performance, Cisco Systems reported earnings per share of $0.88 for the last quarter, surpassing the consensus estimate of $0.70. The company had a return on equity of 30.82% and a net margin of 21.88%. Its revenue was $12.7 billion, exceeding analyst expectations. Additionally, Cisco Systems recently announced a quarterly dividend of $0.40 per share, representing an annualized dividend of $1.60 and a yield of 3.40%.
In terms of insider trading, CEO Charles Robbins and Executive Vice President Deborah L. Stahlkopf recently sold shares of the company’s stock. Robbins sold 26,331 shares at an average price of $46.10, while Stahlkopf sold 8,016 shares at $48.24. Hedge funds have also made changes to their positions in Cisco Systems, with institutions like Charles Schwab Investment Management Inc. and Bank of New York Mellon Corp increasing their holdings.
Cisco Systems designs, manufactures, and sells Internet Protocol-based networking products worldwide. The company offers various networking solutions for different industries, including switching, routing, wireless, and computing. With a strong financial performance and positive analyst ratings, Cisco Systems continues to be a key player in the networking and technology sector.
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