Cisco Systems, Inc. (NASDAQ:CSCO) – Investment analysts at Piper Sandler decreased their Q1 2022 EPS estimates for Cisco Systems in a research note issued to investors on Thursday, March 12th. Piper Sandler analyst J. Fish now forecasts that the network equipment provider will earn $0.77 per share for the quarter, down from their prior estimate of $0.80.
A number of other brokerages have also weighed in on CSCO. Barclays raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and set a $53.00 price target for the company in a report on Thursday, December 19th. BidaskClub raised shares of Cisco Systems from a “sell” rating to a “hold” rating in a report on Wednesday, March 11th. Bank of America lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Robert W. Baird raised their price target on shares of Cisco Systems from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Finally, Oppenheimer lowered their price target on shares of Cisco Systems from to in a report on Thursday. Twelve research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $53.78.
Shares of Cisco Systems stock opened at $37.64 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.81 and a quick ratio of 1.75. The firm has a market cap of $140.80 billion, a P/E ratio of 14.70, a P/E/G ratio of 2.08 and a beta of 1.23. The firm has a 50 day simple moving average of $44.76 and a 200 day simple moving average of $46.57. Cisco Systems has a fifty-two week low of $33.00 and a fifty-two week high of $58.26.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.01. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $11.98 billion. Cisco Systems had a net margin of 21.44% and a return on equity of 36.40%. Cisco Systems’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.83%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s dividend payout ratio (DPR) is currently 49.12%.
In other news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $41.17, for a total transaction of $2,881,900.00. Following the transaction, the chief financial officer now directly owns 308,241 shares of the company’s stock, valued at $12,690,281.97. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 3,910 shares of Cisco Systems stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $46.53, for a total transaction of $181,932.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,910 shares of company stock worth $3,296,482. Insiders own 0.03% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Private Wealth LLC raised its holdings in shares of Cisco Systems by 3.4% during the fourth quarter. Boston Private Wealth LLC now owns 316,192 shares of the network equipment provider’s stock worth $15,164,000 after acquiring an additional 10,393 shares during the period. Bogart Wealth LLC raised its holdings in shares of Cisco Systems by 3.5% during the fourth quarter. Bogart Wealth LLC now owns 55,270 shares of the network equipment provider’s stock worth $2,651,000 after acquiring an additional 1,845 shares during the period. North Star Investment Management Corp. raised its holdings in shares of Cisco Systems by 1.7% during the fourth quarter. North Star Investment Management Corp. now owns 43,352 shares of the network equipment provider’s stock worth $2,079,000 after acquiring an additional 709 shares during the period. Level Four Advisory Services LLC raised its holdings in shares of Cisco Systems by 13.9% during the fourth quarter. Level Four Advisory Services LLC now owns 105,268 shares of the network equipment provider’s stock worth $14,545,000 after acquiring an additional 12,851 shares during the period. Finally, Cairn Investment Group Inc. acquired a new stake in shares of Cisco Systems during the fourth quarter worth $937,000. 72.34% 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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.