Brokerages Set Cisco Systems, Inc. (NASDAQ:CSCO) PT at $56.47

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report) has received an average recommendation of “Hold” from the twenty-one ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $56.47.

CSCO has been the topic of several research reports. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 16th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $55.00 to $60.00 in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a report on Tuesday, April 9th. StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, Piper Sandler reissued a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a research note on Wednesday, June 5th.

Check Out Our Latest Stock Analysis on CSCO

Cisco Systems Trading Down 0.3 %

Cisco Systems stock opened at $45.62 on Thursday. Cisco Systems has a 12-month low of $45.27 and a 12-month high of $58.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.89 and a quick ratio of 0.82. The stock has a market capitalization of $183.79 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 2.65 and a beta of 0.85. The firm has a 50 day simple moving average of $47.52 and a 200-day simple moving average of $48.93.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The firm had revenue of $12.70 billion during the quarter, compared to analyst estimates of $12.53 billion. During the same period last year, the company posted $0.88 EPS. The firm’s quarterly revenue was down 12.8% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems will post 3.14 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.51%. Cisco Systems’s payout ratio is 53.87%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 3,378 shares of Cisco Systems stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the sale, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now directly owns 725,363 shares in the company, valued at $33,439,234.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value of $155,016.42. Following the completion of the sale, the senior vice president now directly owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. Insiders have sold a total of 37,725 shares of company stock valued at $1,755,567 in the last three months. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its stake in shares of Cisco Systems by 0.3% in the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock worth $3,019,000 after buying an additional 202 shares during the last quarter. Hyman Charles D lifted its position in Cisco Systems by 0.3% during the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock worth $3,573,000 after acquiring an additional 203 shares during the last quarter. Madrona Financial Services LLC boosted its holdings in Cisco Systems by 2.4% during the fourth quarter. Madrona Financial Services LLC now owns 8,970 shares of the network equipment provider’s stock valued at $453,000 after acquiring an additional 207 shares during the period. Morton Brown Family Wealth LLC boosted its holdings in Cisco Systems by 41.9% during the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 208 shares during the period. Finally, Baker Boyer National Bank grew its position in shares of Cisco Systems by 2.6% in the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock valued at $411,000 after purchasing an additional 210 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.

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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