Cisco Systems (NASDAQ:CSCO) had its target price raised by Raymond James from $58.00 to $59.00 in a research report sent to investors on Thursday morning, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the network equipment provider’s stock.
A number of other equities analysts have also recently issued reports on CSCO. Royal Bank of Canada reduced their target price on Cisco Systems from $64.00 to $53.00 and set an outperform rating on the stock in a report on Thursday. Jefferies Financial Group raised their target price on Cisco Systems from $55.00 to $62.00 and gave the stock a buy rating in a report on Thursday, May 16th. They noted that the move was a valuation call. Tigress Financial restated a buy rating on shares of Cisco Systems in a report on Thursday, June 27th. William Blair cut Cisco Systems from an outperform rating to a market perform rating and set a $56.10 target price on the stock. in a report on Wednesday, June 12th. Finally, Citigroup reduced their target price on Cisco Systems from $65.00 to $57.00 and set a buy rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $56.59.
Shares of CSCO opened at $46.96 on Thursday. The company has a current ratio of 1.51, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. Cisco Systems has a 1 year low of $40.25 and a 1 year high of $58.26. The stock has a market cap of $197.98 billion, a P/E ratio of 16.40, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. The stock’s 50-day moving average price is $55.20 and its two-hundred day moving average price is $53.85.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The firm had revenue of $13.43 billion for the quarter, compared to analysts’ expectations of $13.39 billion. During the same quarter last year, the business earned $0.70 earnings per share. The company’s revenue was up 4.5% compared to the same quarter last year. As a group, equities analysts forecast that Cisco Systems will post 3.11 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.98%. Cisco Systems’s dividend payout ratio is currently 49.12%.
In other Cisco Systems news, Director Wesley G. Bush bought 10,000 shares of Cisco Systems stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $55.74 per share, for a total transaction of $557,400.00. Following the purchase, the director now owns 3,017 shares of the company’s stock, valued at approximately $168,167.58. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $53.56, for a total value of $3,749,200.00. Following the transaction, the chief financial officer now owns 349,122 shares of the company’s stock, valued at $18,698,974.32. The disclosure for this sale can be found here. Insiders have sold a total of 91,379 shares of company stock valued at $4,950,541 over the last quarter. 0.03% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Mirador Capital Partners LP lifted its position in shares of Cisco Systems by 1.7% during the 2nd quarter. Mirador Capital Partners LP now owns 11,977 shares of the network equipment provider’s stock valued at $656,000 after acquiring an additional 199 shares during the period. Weil Company Inc. lifted its position in shares of Cisco Systems by 0.5% during the 2nd quarter. Weil Company Inc. now owns 38,992 shares of the network equipment provider’s stock valued at $2,134,000 after acquiring an additional 201 shares during the period. Pinnacle Holdings LLC lifted its position in shares of Cisco Systems by 1.0% during the 2nd quarter. Pinnacle Holdings LLC now owns 19,758 shares of the network equipment provider’s stock valued at $1,081,000 after acquiring an additional 201 shares during the period. Baystate Wealth Management LLC lifted its position in shares of Cisco Systems by 2.0% during the 2nd quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock valued at $600,000 after acquiring an additional 202 shares during the period. Finally, Keel Point LLC lifted its position in shares of Cisco Systems by 3.7% during the 2nd quarter. Keel Point LLC now owns 5,708 shares of the network equipment provider’s stock valued at $312,000 after acquiring an additional 202 shares during the period. Institutional investors own 73.73% of the company’s stock.
Cisco Systems Company Profile
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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