Cisco Systems (NASDAQ:CSCO) Now Covered by Analysts at Citigroup

Citigroup initiated coverage on shares of Cisco Systems (NASDAQ:CSCOFree Report) in a research note published on Friday morning, Marketbeat reports. The brokerage issued a neutral rating and a $52.00 price target on the network equipment provider’s stock.

Several other research analysts have also issued reports on CSCO. Needham & Company LLC reissued a hold rating on shares of Cisco Systems in a research note on Tuesday, April 9th. Melius Research restated a hold rating and set a $55.00 price objective on shares of Cisco Systems in a report on Monday, January 8th. UBS Group upped their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a neutral rating in a report on Monday, February 12th. Morgan Stanley started coverage on shares of Cisco Systems in a report on Tuesday, April 9th. They set an overweight rating and a $58.00 price objective on the stock. Finally, Piper Sandler upped their price objective on shares of Cisco Systems from $47.00 to $51.00 and gave the stock a neutral rating in a report on Wednesday, March 20th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Cisco Systems has an average rating of Hold and an average price target of $56.03.

Check Out Our Latest Stock Report on Cisco Systems

Cisco Systems Trading Down 0.5 %

NASDAQ:CSCO opened at $48.24 on Friday. The firm’s fifty day moving average is $49.22 and its 200-day moving average is $50.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. Cisco Systems has a 52 week low of $45.56 and a 52 week high of $58.19. The firm has a market cap of $195.33 billion, a P/E ratio of 14.66, a P/E/G ratio of 2.78 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its earnings results on Wednesday, February 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.03. The business had revenue of $12.79 billion for the quarter, compared to analyst estimates of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. Cisco Systems’s revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. Equities analysts expect that Cisco Systems will post 3.15 earnings per share for the current year.

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 24th. Investors of record on Thursday, April 4th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $1.60 annualized dividend and a yield of 3.32%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.39. Cisco Systems’s dividend payout ratio is presently 48.63%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the transaction, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $50.00, for a total transaction of $697,100.00. Following the transaction, the chief financial officer now owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,441 shares of company stock worth $972,080. 0.02% of the stock is owned by company insiders.

Hedge Funds Weigh In On Cisco Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSCO. Wealth Dimensions Group Ltd. boosted its position in shares of Cisco Systems by 1.4% in the second quarter. Wealth Dimensions Group Ltd. now owns 13,401 shares of the network equipment provider’s stock valued at $693,000 after acquiring an additional 188 shares during the period. Strong Tower Advisory Services boosted its position in shares of Cisco Systems by 1.3% in the third quarter. Strong Tower Advisory Services now owns 14,831 shares of the network equipment provider’s stock valued at $797,000 after acquiring an additional 190 shares during the period. Richard W. Paul & Associates LLC boosted its position in shares of Cisco Systems by 0.9% in the third quarter. Richard W. Paul & Associates LLC now owns 20,996 shares of the network equipment provider’s stock valued at $1,129,000 after acquiring an additional 191 shares during the period. Cassia Capital Partners LLC raised its stake in Cisco Systems by 1.4% in the third quarter. Cassia Capital Partners LLC now owns 13,950 shares of the network equipment provider’s stock valued at $750,000 after purchasing an additional 191 shares in the last quarter. Finally, Waddell & Associates LLC raised its stake in Cisco Systems by 0.8% in the third quarter. Waddell & Associates LLC now owns 24,693 shares of the network equipment provider’s stock valued at $1,328,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Company Profile

(Get Free Report)

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 and controllers; 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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