Cisco Systems (NASDAQ:CSCO) had its price target lifted by Raymond James from $58.00 to $59.00 in a report published on Thursday, BenzingaRatingsTable reports. Raymond James currently has an outperform rating on the network equipment provider’s stock.

Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Cisco Systems from a hold rating to a buy rating and set a $63.00 price objective for the company in a research report on Tuesday, May 21st. Barclays started coverage on shares of Cisco Systems in a research report on Wednesday, August 7th. They set an equal weight rating and a $52.00 price objective for the company. Robert W. Baird reaffirmed a buy rating and set a $57.00 price objective on shares of Cisco Systems in a research report on Monday, August 12th. Credit Suisse Group reaffirmed a neutral rating and set a $52.00 price objective (up from $47.00) on shares of Cisco Systems in a research report on Thursday, May 16th. Finally, Citigroup decreased their price objective on shares of Cisco Systems from $65.00 to $57.00 and set a buy rating for the company in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the company. Cisco Systems currently has an average rating of Buy and a consensus target price of $56.59.

Shares of CSCO stock opened at $46.96 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Cisco Systems has a 52 week low of $40.25 and a 52 week high of $58.26. The stock has a market capitalization of $197.98 billion, a PE ratio of 16.48, a P/E/G ratio of 2.12 and a beta of 1.18. The firm has a 50 day moving average of $55.20 and a two-hundred day moving average of $53.85.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. The company had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.70 EPS. Analysts expect that Cisco Systems will post 3.11 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were paid a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a yield of 2.98%. Cisco Systems’s dividend payout ratio is currently 49.12%.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $53.56, for a total value of $3,749,200.00. Following the transaction, the chief financial officer now directly owns 349,122 shares in the company, valued at $18,698,974.32. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Wesley G. Bush acquired 10,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was acquired at an average price of $55.74 per share, for a total transaction of $557,400.00. Following the completion of the purchase, the director now owns 3,017 shares of the company’s stock, valued at approximately $168,167.58. The disclosure for this purchase can be found here. Insiders have sold a total of 95,129 shares of company stock worth $5,159,754 over the last quarter. 0.03% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Evolution Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter worth about $33,000. Lowe Wealth Advisors LLC acquired a new position in shares of Cisco Systems during the second quarter worth about $38,000. Personal Wealth Partners acquired a new position in shares of Cisco Systems during the second quarter worth about $44,000. Ashburton Jersey Ltd acquired a new position in shares of Cisco Systems during the second quarter worth about $49,000. Finally, Cohen & Steers Inc. acquired a new position in shares of Cisco Systems during the fourth quarter worth about $51,000. Institutional investors own 74.28% 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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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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