Cisco Systems (NASDAQ:CSCO) Coverage Initiated by Analysts at Barclays

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Barclays started coverage on shares of Cisco Systems (NASDAQ:CSCO) in a report published on Wednesday morning, BenzingaRatingsTable reports. The brokerage issued an equal weight rating and a $52.00 target price on the network equipment provider’s stock.

A number of other equities research analysts also recently weighed in on CSCO. MKM Partners raised their target price on shares of Cisco Systems to $56.00 and gave the company a neutral rating in a research note on Thursday, May 16th. Bank of America reaffirmed a buy rating and issued a $62.00 target price on shares of Cisco Systems in a research note on Wednesday, July 10th. Nomura raised their target price on shares of Cisco Systems from $50.00 to $53.00 and gave the company a neutral rating in a research note on Tuesday, July 30th. Robert W. Baird reaffirmed a buy rating and issued a $57.00 target price on shares of Cisco Systems in a research note on Wednesday, July 10th. Finally, Oppenheimer raised their target price on shares of Cisco Systems from $52.00 to $60.00 and gave the company an outperform rating in a research note on Friday, April 26th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company. Cisco Systems has a consensus rating of Buy and a consensus target price of $56.24.

Shares of Cisco Systems stock traded up $0.85 on Wednesday, reaching $53.20. The stock had a trading volume of 7,207,712 shares, compared to its average volume of 15,557,514. Cisco Systems has a 1 year low of $40.25 and a 1 year high of $58.26. The stock has a market capitalization of $219.90 billion, a P/E ratio of 22.73, a P/E/G ratio of 2.35 and a beta of 1.18. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. The stock’s 50 day moving average price is $56.22.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The firm had revenue of $12.96 billion for the quarter, compared to the consensus estimate of $12.89 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts forecast that Cisco Systems will post 2.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date was Wednesday, July 3rd. Cisco Systems’s payout ratio is currently 59.83%.

In other Cisco Systems news, EVP Mark D. Chandler sold 3,750 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $55.79, for a total transaction of $209,212.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven M. West sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the transaction, the director now owns 5,263 shares in the company, valued at $295,833.23. The disclosure for this sale can be found here. Insiders have sold 95,129 shares of company stock worth $5,159,754 over the last quarter. Company insiders own 0.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Carillon Tower Advisers Inc. grew its holdings in shares of Cisco Systems by 7.4% in the second quarter. Carillon Tower Advisers Inc. now owns 743,250 shares of the network equipment provider’s stock worth $40,678,000 after purchasing an additional 51,311 shares during the last quarter. Sciencast Management LP bought a new position in shares of Cisco Systems in the second quarter worth approximately $1,704,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in shares of Cisco Systems by 0.5% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 454,717 shares of the network equipment provider’s stock worth $24,864,000 after purchasing an additional 2,289 shares during the last quarter. Smith Asset Management Group LP grew its holdings in shares of Cisco Systems by 486,558.8% in the second quarter. Smith Asset Management Group LP now owns 330,928 shares of the network equipment provider’s stock worth $18,112,000 after purchasing an additional 330,860 shares during the last quarter. Finally, Keel Point LLC grew its holdings in shares of Cisco Systems by 3.7% in the second quarter. Keel Point LLC now owns 5,708 shares of the network equipment provider’s stock worth $312,000 after purchasing an additional 202 shares during the last quarter. Institutional investors and hedge funds own 74.37% of the company’s stock.

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.

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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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