Cisco Systems (NASDAQ:CSCO) Reaches New 52-Week High - What's Next?

Shares of Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $57.06 and last traded at $56.90, with a volume of 1697841 shares changing hands. The stock had previously closed at $56.76.

Analyst Upgrades and Downgrades

Several brokerages have commented on CSCO. Jefferies Financial Group cut their price target on Cisco Systems from $56.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Piper Sandler reissued a "neutral" rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price target on Cisco Systems from $53.00 to $55.00 and gave the company a "hold" rating in a research note on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Citigroup raised shares of Cisco Systems from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $52.00 to $62.00 in a research note on Wednesday, October 16th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Cisco Systems in a research note on Thursday, August 15th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cisco Systems has a consensus rating of "Hold" and an average price target of $56.74.

Cisco Systems Trading Down 0.3 %

The business's 50-day moving average is $51.17 and its two-hundred day moving average is $48.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The firm has a market cap of $227.99 billion, a P/E ratio of 19.11, a P/E/G ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to analysts' expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business's quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.01 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems's dividend payout ratio is currently 53.87%.

Insider Transactions at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares of the company's stock, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Maria Victoria Wong sold 3,379 shares of the business's stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now owns 47,182 shares of the company's stock, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now owns 132,910 shares of the company's stock, valued at approximately $6,501,957.20. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock worth $3,509,049 in the last ninety days. Insiders own 0.02% of the company's stock.

Institutional Trading of Cisco Systems

Several hedge funds and other institutional investors have recently made changes to their positions in CSCO. Summit Securities Group LLC bought a new stake in shares of Cisco Systems in the 2nd quarter valued at $25,000. Quarry LP raised its stake in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 456 shares during the period. West Financial Advisors LLC lifted its stake in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock valued at $31,000 after buying an additional 309 shares in the last quarter. Retirement Group LLC raised its holdings in Cisco Systems by 56.8% during the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider's stock valued at $36,000 after acquiring an additional 263 shares during the period. Finally, Hobbs Group Advisors LLC purchased a new stake in shares of Cisco Systems during the second quarter worth $36,000. 73.33% of the stock is currently owned by institutional investors.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.