Cisco Systems (NASDAQ:CSCO) Price Target Raised to $67.00

Cisco Systems (NASDAQ:CSCOGet Rating) had its price target upped by Credit Suisse Group from $65.00 to $67.00 in a research note published on Thursday, MarketBeat.com reports. They currently have an outperform rating on the network equipment provider’s stock.

A number of other research analysts have also recently commented on the stock. Jefferies Financial Group boosted their target price on shares of Cisco Systems from $52.00 to $54.00 and gave the stock a buy rating in a research report on Thursday, August 18th. Cowen boosted their target price on shares of Cisco Systems from $58.00 to $60.00 and gave the stock an outperform rating in a research report on Thursday, August 18th. Piper Sandler upped their price target on shares of Cisco Systems from $43.00 to $47.00 and gave the company a neutral rating in a report on Thursday, August 18th. UBS Group raised their price objective on shares of Cisco Systems from $46.00 to $48.00 and gave the stock a neutral rating in a report on Thursday, August 18th. Finally, Bank of America restated a buy rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems presently has a consensus rating of Moderate Buy and a consensus price target of $53.63.

Cisco Systems Price Performance

CSCO opened at $47.79 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. Cisco Systems has a 52-week low of $38.60 and a 52-week high of $64.29. The company has a 50 day moving average of $42.95 and a two-hundred day moving average of $44.39. The company has a market cap of $196.36 billion, a P/E ratio of 17.25, a P/E/G ratio of 2.31 and a beta of 1.00.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. Cisco Systems had a net margin of 22.00% and a return on equity of 31.68%. The company had revenue of $13.63 billion during the quarter, compared to the consensus estimate of $13.29 billion. During the same period in the previous year, the firm earned $0.73 earnings per share. Cisco Systems’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, analysts expect that Cisco Systems will post 3.1 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Tuesday, October 4th. Cisco Systems’s payout ratio is 54.87%.

Insider Transactions at Cisco Systems

In other news, CEO Charles Robbins sold 12,716 shares of the stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $47.14, for a total transaction of $599,432.24. Following the sale, the chief executive officer now directly owns 631,374 shares in the company, valued at approximately $29,762,970.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Prat Bhatt sold 19,168 shares of the stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $848,759.04. Following the sale, the senior vice president now directly owns 38,158 shares in the company, valued at approximately $1,689,636.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 12,716 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $47.14, for a total value of $599,432.24. Following the transaction, the chief executive officer now directly owns 631,374 shares of the company’s stock, valued at $29,762,970.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,317 shares of company stock worth $2,612,042. 0.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cisco Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Power Corp of Canada boosted its stake in shares of Cisco Systems by 17.8% during the 3rd quarter. Power Corp of Canada now owns 86,844 shares of the network equipment provider’s stock worth $3,474,000 after acquiring an additional 13,100 shares in the last quarter. Pasadena Private Wealth LLC boosted its stake in shares of Cisco Systems by 6.4% during the 3rd quarter. Pasadena Private Wealth LLC now owns 8,858 shares of the network equipment provider’s stock worth $354,000 after acquiring an additional 530 shares in the last quarter. Coco Enterprises LLC boosted its stake in shares of Cisco Systems by 3.8% during the 3rd quarter. Coco Enterprises LLC now owns 15,502 shares of the network equipment provider’s stock worth $627,000 after acquiring an additional 574 shares in the last quarter. Ambassador Advisors LLC boosted its stake in shares of Cisco Systems by 12.8% during the 3rd quarter. Ambassador Advisors LLC now owns 15,288 shares of the network equipment provider’s stock worth $611,000 after acquiring an additional 1,735 shares in the last quarter. Finally, National Pension Service boosted its stake in shares of Cisco Systems by 2.7% during the 3rd quarter. National Pension Service now owns 6,279,543 shares of the network equipment provider’s stock worth $254,761,000 after acquiring an additional 162,480 shares in the last quarter. 71.71% of the stock is owned by institutional investors.

Cisco Systems Company Profile

(Get Rating)

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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

Further Reading

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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