Brokerages Set Cisco Systems Inc. (NASDAQ:CSCO) Target Price at $33.03
Shares of Cisco Systems Inc. (NASDAQ:CSCO) have earned a consensus rating of “Buy” from the thirty-eight analysts that are presently covering the firm. One equities research analyst has rated the stock with a sell recommendation, thirteen have assigned a hold recommendation, twenty-three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $33.03.
Several equities analysts recently issued reports on the company. JMP Securities restated a “market perform” rating on shares of Cisco Systems in a research report on Wednesday. Vetr upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $35.44 price target on the stock in a research report on Monday. Bank of America Corp. reiterated a “neutral” rating and set a $33.00 target price on shares of Cisco Systems in a research report on Monday, September 26th. RBC Capital Markets reiterated an “outperform” rating and set a $35.00 target price on shares of Cisco Systems in a research report on Friday, September 23rd. Finally, Raymond James Financial Inc. boosted their target price on Cisco Systems from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, September 23rd.
Cisco Systems (NASDAQ:CSCO) opened at 31.48 on Tuesday. Cisco Systems has a 52-week low of $22.46 and a 52-week high of $31.95. The stock has a market cap of $157.85 billion, a P/E ratio of 14.92 and a beta of 1.49. The stock has a 50 day moving average price of $31.30 and a 200 day moving average price of $29.40.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. The firm had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The firm’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 EPS. On average, equities research analysts forecast that Cisco Systems will post $2.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a dividend of $0.26 per share. The ex-dividend date is Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.30%. Cisco Systems’s dividend payout ratio is currently 49.06%.
In related news, insider John T. Chambers sold 541,666 shares of Cisco Systems stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $31.08, for a total value of $16,834,979.28. Following the transaction, the insider now owns 2,008,697 shares in the company, valued at approximately $62,430,302.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark D. Chandler sold 62,910 shares of Cisco Systems stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $31.40, for a total transaction of $1,975,374.00. Following the completion of the transaction, the senior vice president now owns 286,628 shares in the company, valued at approximately $9,000,119.20. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sun Life Financial INC purchased a new position in shares of Cisco Systems during the first quarter valued at approximately $63,773,000. Riggs Asset Managment Co. Inc. increased its position in shares of Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock valued at $102,000 after buying an additional 225 shares during the period. Lenox Wealth Management Inc. increased its position in shares of Cisco Systems by 35.0% in the second quarter. Lenox Wealth Management Inc. now owns 3,835 shares of the network equipment provider’s stock valued at $110,000 after buying an additional 995 shares during the period. West Oak Capital LLC increased its position in shares of Cisco Systems by 19.1% in the third quarter. West Oak Capital LLC now owns 4,052 shares of the network equipment provider’s stock valued at $129,000 after buying an additional 651 shares during the period. Finally, Global X Management Co. LLC increased its position in shares of Cisco Systems by 101.9% in the second quarter. Global X Management Co. LLC now owns 4,244 shares of the network equipment provider’s stock valued at $122,000 after buying an additional 2,142 shares during the period. Hedge funds and other institutional investors own 75.00% of the company’s stock.
Cisco Systems Company Profile
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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