Robert W. Baird restated their buy rating on shares of Cisco Systems (NASDAQ:CSCO) in a research report released on Wednesday, AnalystRatings.com reports. The brokerage currently has a $57.00 target price on the network equipment provider’s stock.
“We appreciate Cisco’s desire to reinforce its position as the leader in enterprise networking as customers demand higher throughput solutions.”,” Robert W. Baird’s analyst commented.
CSCO has been the topic of a number of other research reports. Tigress Financial reaffirmed a buy rating on shares of Cisco Systems in a report on Thursday, June 27th. KeyCorp reaffirmed a hold rating on shares of Tyler Technologies in a report on Monday, March 25th. Jefferies Financial Group upped their price objective on Nice to $166.00 and gave the stock a buy rating in a report on Thursday, May 16th. Bank of America set a $62.00 price objective on Cisco Systems and gave the stock a buy rating in a report on Thursday, May 16th. Finally, Credit Suisse Group upped their price objective on Johnson & Johnson from $152.00 to $156.00 and gave the stock an outperform rating in a report on Thursday, May 16th. Seven equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $56.30.
Shares of CSCO stock opened at $57.95 on Wednesday. The business’s fifty day simple moving average is $55.42. Cisco Systems has a 1-year low of $40.25 and a 1-year high of $58.15. The firm has a market capitalization of $248.07 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.93 and a beta of 1.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.64.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The firm had revenue of $12.96 billion for the quarter, compared to analyst estimates of $12.89 billion. During the same quarter in the prior year, the company posted $0.66 earnings per share. Cisco Systems’s quarterly revenue was up 4.0% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems will post 2.8 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.42%. Cisco Systems’s dividend payout ratio is currently 59.83%.
In other news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $53.56, for a total value of $3,749,200.00. Following the sale, the chief financial officer now directly owns 349,122 shares in the company, valued at $18,698,974.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mark D. Chandler sold 1,379 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $55.94, for a total value of $77,141.26. The disclosure for this sale can be found here. Insiders sold 95,129 shares of company stock worth $5,159,754 over the last 90 days. Company insiders own 0.03% of the company’s stock.
Large investors have recently modified their holdings of the company. Horan Securities Inc. lifted its position in Cisco Systems by 663.0% during the fourth quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock worth $33,000 after buying an additional 663 shares during the period. Evolution Wealth Advisors LLC purchased a new position in Cisco Systems during the second quarter worth about $33,000. Lowe Wealth Advisors LLC purchased a new position in Cisco Systems during the second quarter worth about $38,000. Contravisory Investment Management Inc. purchased a new position in Cisco Systems during the fourth quarter worth about $49,000. Finally, Highwater Wealth Management LLC purchased a new position in Cisco Systems during the fourth quarter worth about $51,000. Institutional investors and hedge funds own 74.49% 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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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