Rosenblatt Securities Trims Cisco Systems (NASDAQ:CSCO) Target Price to $51.00

Cisco Systems (NASDAQ:CSCOGet Rating) had its price target trimmed by Rosenblatt Securities from $53.00 to $51.00 in a report issued on Thursday, MarketBeat Ratings reports. The firm currently has a neutral rating on the network equipment provider’s stock.

Several other analysts have also recently issued reports on CSCO. Deutsche Bank Aktiengesellschaft increased their target price on shares of Cisco Systems from $51.00 to $54.00 in a research note on Friday, August 19th. Credit Suisse Group increased their target price on shares of Cisco Systems from $60.00 to $65.00 and gave the stock an outperform rating in a research note on Thursday, August 18th. Cowen increased their price target on shares of Cisco Systems from $58.00 to $60.00 and gave the stock an outperform rating in a report on Thursday, August 18th. Piper Sandler increased their price target on shares of Cisco Systems from $43.00 to $47.00 and gave the stock a neutral rating in a report on Thursday, August 18th. Finally, UBS Group increased their price target 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. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $53.63.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $47.79 on Thursday. The stock has a market capitalization of $196.36 billion, a P/E ratio of 17.25, a PEG ratio of 2.31 and a beta of 1.00. The company has a current ratio of 1.45, a quick ratio of 1.33 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average is $42.95 and its 200 day moving average is $44.39. Cisco Systems has a 12 month low of $38.60 and a 12 month high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its earnings results 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 business had revenue of $13.63 billion for the quarter, compared to analysts’ expectations of $13.29 billion. During the same period in the prior year, the company posted $0.73 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Cisco Systems will post 3.1 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend was Tuesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 54.87%.

Insiders Place Their Bets

In other Cisco Systems news, CEO Charles Robbins sold 12,716 shares of the firm’s 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 sale, the chief executive officer now owns 631,374 shares of the company’s stock, valued at approximately $29,762,970.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Jeffery S. Sharritts sold 637 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $44.69, for a total value of $28,467.53. Following the completion of the sale, the executive vice president now directly owns 166,370 shares of the company’s stock, valued at approximately $7,435,075.30. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Charles Robbins sold 12,716 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $47.14, for a total transaction of $599,432.24. Following the completion of the sale, 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. Insiders have sold a total of 56,317 shares of company stock valued at $2,612,042 in the last quarter. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. Power Corp of Canada lifted its position in shares of Cisco Systems by 17.8% in the 3rd quarter. Power Corp of Canada now owns 86,844 shares of the network equipment provider’s stock worth $3,474,000 after purchasing an additional 13,100 shares during the period. Pasadena Private Wealth LLC lifted its position in 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 valued at $354,000 after acquiring an additional 530 shares during the period. Coco Enterprises LLC lifted its position in Cisco Systems by 3.8% during the 3rd quarter. Coco Enterprises LLC now owns 15,502 shares of the network equipment provider’s stock valued at $627,000 after acquiring an additional 574 shares during the period. Ambassador Advisors LLC lifted its position in Cisco Systems by 12.8% during the 3rd quarter. Ambassador Advisors LLC now owns 15,288 shares of the network equipment provider’s stock valued at $611,000 after acquiring an additional 1,735 shares during the period. Finally, National Pension Service lifted its position in 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 valued at $254,761,000 after acquiring an additional 162,480 shares during the period. 71.71% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Company Profile

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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.

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