Cisco Systems’ (CSCO) “Buy” Rating Reiterated at Citigroup Inc.
Citigroup Inc. reiterated their buy rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a research report released on Thursday morning. Citigroup Inc. currently has a $40.00 price objective on the network equipment provider’s stock. The analysts noted that the move was a valuation call.
A number of other brokerages have also issued reports on CSCO. Credit Suisse Group reissued a buy rating on shares of Cisco Systems in a research note on Thursday, August 10th. Sanford C. Bernstein reissued an outperform rating and set a $38.00 price target on shares of Cisco Systems in a research note on Sunday, August 20th. BMO Capital Markets reissued a hold rating and set a $32.00 price target on shares of Cisco Systems in a research note on Thursday, September 28th. Vetr lowered Cisco Systems from a buy rating to a hold rating and set a $33.18 price target for the company. in a research note on Wednesday, August 16th. Finally, Berenberg Bank set a $33.00 price target on Cisco Systems and gave the stock a hold rating in a research note on Thursday, August 17th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Cisco Systems currently has an average rating of Buy and a consensus target price of $36.67.
Cisco Systems (CSCO) traded up $0.02 during trading hours on Thursday, hitting $35.90. The stock had a trading volume of 27,579,245 shares, compared to its average volume of 20,121,138. The company has a market cap of $177,768.98, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 3.13 and a beta of 1.15. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $36.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.98.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating 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 14.58% and a net margin of 19.73%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS. analysts expect that Cisco Systems will post 2.16 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.23%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.10%.
In related news, CEO Charles Robbins sold 121,390 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $3,891,763.40. Following the completion of the transaction, the chief executive officer now owns 552,694 shares of the company’s stock, valued at approximately $17,719,369.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the transaction, the chief accounting officer now directly owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. In the last three months, insiders sold 485,138 shares of company stock valued at $15,347,574. Insiders own 0.05% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CSCO. Boston Partners raised its holdings in Cisco Systems by 304.2% in the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after purchasing an additional 23,002,159 shares during the period. Ameriprise Financial Inc. raised its holdings in Cisco Systems by 23.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after purchasing an additional 11,972,070 shares during the period. Stifel Financial Corp raised its holdings in Cisco Systems by 6,109.5% in the 3rd quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock worth $273,977,000 after purchasing an additional 8,016,561 shares during the period. Vanguard Group Inc. raised its holdings in Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares during the period. Finally, American Century Companies Inc. raised its holdings in Cisco Systems by 54.2% in the 2nd quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock worth $449,544,000 after purchasing an additional 5,049,326 shares during the period. 75.22% of the stock is 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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