Cisco Systems (NASDAQ:CSCO) Price Target Raised to $62.00 at UBS Group

Cisco Systems (NASDAQ:CSCO) had its target price raised by UBS Group from $55.00 to $62.00 in a report released on Thursday morning,Benzinga reports. They currently have a neutral rating on the network equipment provider’s stock.

A number of other equities analysts have also recently commented on the company. Barclays boosted their price target on Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday. Rosenblatt Securities boosted their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Ten investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $57.46 on Thursday. The stock has a market capitalization of $229.31 billion, a PE ratio of 24.66, a P/E/G ratio of 4.76 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.83. The business has a fifty day moving average price of $54.18 and a two-hundred day moving average price of $49.80. Cisco Systems has a fifty-two week low of $44.50 and a fifty-two week high of $59.38.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the firm earned $0.98 EPS. Cisco Systems’s revenue was down 5.6% on a year-over-year basis. As a group, equities analysts predict that Cisco Systems will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s payout ratio is 68.67%.

Insider Activity at Cisco Systems

In related news, CFO Richard Scott Herren sold 22,309 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the sale, the chief financial officer now owns 293,184 shares in the company, valued at $14,659,200. This represents a 7.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now owns 135,544 shares in the company, valued at approximately $6,821,929.52. The trade was a 5.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,924 shares of company stock worth $1,798,131 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSCO. Summit Securities Group LLC bought a new position in Cisco Systems in the second quarter worth approximately $25,000. Quarry LP boosted its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC boosted its holdings in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Cisco Systems in the second quarter worth approximately $36,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Cisco Systems in the third quarter worth approximately $40,000. Institutional investors own 73.33% of the company’s stock.

About Cisco Systems

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.