Cisco Systems (NASDAQ:CSCO) Price Target Raised to $57.00

Cisco Systems (NASDAQ:CSCO) had its target price lifted by Piper Sandler from $52.00 to $57.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has a neutral rating on the network equipment provider’s stock.

Other research analysts have also issued research reports about the stock. Barclays cut their price target on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Jefferies Financial Group reduced their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $58.00 in a research report on Friday, August 16th. StockNews.com downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Evercore ISI increased their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Eleven equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.42.

Cisco Systems Stock Down 0.8 %

Shares of NASDAQ CSCO opened at $57.46 on Thursday. The stock has a market capitalization of $229.31 billion, a PE ratio of 24.66, a P/E/G ratio of 4.90 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm has a fifty day moving average of $54.18 and a 200-day moving average of $49.76. Cisco Systems has a 52-week low of $44.50 and a 52-week high of $59.38.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. On average, analysts anticipate that Cisco Systems will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s payout ratio is 68.67%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. The trade was a 1.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the sale, the chief financial officer now directly owns 293,184 shares in the company, valued at $14,659,200. This trade represents a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 35,924 shares of company stock valued at $1,798,131 over the last three months. 0.01% of the stock is owned by insiders.

Hedge Funds Weigh In On Cisco Systems

Institutional investors have recently made changes to their positions in the stock. Summit Securities Group LLC bought a new position in Cisco Systems during the 2nd quarter worth $25,000. West Financial Advisors LLC increased its holdings in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the period. Quarry LP lifted its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Cisco Systems during the 3rd quarter valued at about $40,000. Finally, Hobbs Group Advisors LLC bought a new position in Cisco Systems in the 2nd quarter worth about $36,000. 73.33% of the stock is owned by institutional investors.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.