Cisco Systems (NASDAQ:CSCO) had its target price increased by Citigroup from $40.00 to $46.00 in a report issued on Tuesday, MarketBeat reports. Citigroup currently has a buy rating on the network equipment provider’s stock.
Several other equities research analysts have also weighed in on the company. Instinet raised their price objective on Cisco Systems from $39.53 to $46.00 and gave the stock a buy rating in a research note on Monday. Nomura raised Cisco Systems from a neutral rating to a buy rating and set a $33.00 price objective for the company in a research note on Monday. Royal Bank of Canada reissued a buy rating and set a $44.00 price objective on shares of Cisco Systems in a research note on Monday. Vetr raised Cisco Systems from a buy rating to a strong-buy rating and set a $44.13 price objective for the company in a research note on Monday. Finally, Goldman Sachs Group assumed coverage on Cisco Systems in a research note on Wednesday, February 7th. They set a buy rating and a $48.00 price objective for the company. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. Cisco Systems presently has a consensus rating of Buy and an average target price of $40.38.
Shares of Cisco Systems (NASDAQ:CSCO) opened at $41.23 on Tuesday. The firm has a market capitalization of $203,830.00, a price-to-earnings ratio of 21.36, a PEG ratio of 3.55 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. Cisco Systems has a one year low of $30.36 and a one year high of $42.98.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The company’s revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.61 EPS. research analysts anticipate that Cisco Systems will post 2.23 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.81%. The ex-dividend date was Thursday, January 4th. Cisco Systems’s dividend payout ratio is currently 60.10%.
In other news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the sale, the insider now directly owns 712,736 shares of the company’s stock, valued at $26,014,864. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Karen Walker sold 5,786 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $211,131.14. Following the completion of the sale, the senior vice president now directly owns 176,418 shares in the company, valued at $6,437,492.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in Cisco Systems by 12.8% during the fourth quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock worth $4,709,302,000 after buying an additional 13,927,416 shares in the last quarter. Ameriprise Financial Inc. grew its position in Cisco Systems by 23.6% during the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after buying an additional 11,972,070 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its position in Cisco Systems by 91.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 19,498,882 shares of the network equipment provider’s stock worth $746,806,000 after buying an additional 9,292,187 shares in the last quarter. Stifel Financial Corp grew its position in Cisco Systems by 6,109.5% during the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock worth $273,977,000 after buying an additional 8,016,561 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares in the last quarter. 75.42% of the stock is currently owned by institutional investors.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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