Deutsche Bank AG Boosts Cisco Systems Inc. (CSCO) Price Target to $37.00
Cisco Systems Inc. (NASDAQ:CSCO) had its price target hoisted by Deutsche Bank AG from $35.00 to $37.00 in a research report released on Wednesday. Deutsche Bank AG currently has a buy rating on the network equipment provider’s stock.
Several other equities analysts also recently issued reports on CSCO. Vetr upgraded shares of Cisco Systems from a hold rating to a buy rating and set a $30.77 price objective on the stock in a report on Tuesday, June 7th. Jefferies Group restated a buy rating and set a $35.00 price objective on shares of Cisco Systems in a report on Monday, August 29th. JPMorgan Chase & Co. restated a hold rating on shares of Cisco Systems in a report on Wednesday, August 17th. Needham & Company LLC restated a hold rating on shares of Cisco Systems in a report on Thursday, August 18th. Finally, Wells Fargo & Co. restated a buy rating on shares of Cisco Systems in a report on Monday, June 27th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $31.97.
Cisco Systems (NASDAQ:CSCO) opened at 30.84 on Wednesday. Cisco Systems has a 12-month low of $22.46 and a 12-month high of $31.95. The stock has a market cap of $154.64 billion, a P/E ratio of 14.62 and a beta of 1.37. The company has a 50 day moving average of $31.06 and a 200-day moving average of $28.94.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The business earned $12.60 billion during the quarter, compared to the consensus estimate of $12.57 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 earnings per share. Equities analysts forecast that Cisco Systems will post $2.43 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Monday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is 49.06%.
In related news, EVP Pankaj Patel sold 49,387 shares of the firm’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $28.98, for a total transaction of $1,431,235.26. Following the completion of the transaction, the executive vice president now directly owns 359,174 shares in the company, valued at approximately $10,408,862.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carol Bartz sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $31.25, for a total value of $468,750.00. Following the transaction, the director now owns 23,104 shares of the company’s stock, valued at $722,000. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Cisco Systems by 2.1% in the second quarter. Vanguard Group Inc. now owns 317,302,573 shares of the network equipment provider’s stock worth $9,103,410,000 after buying an additional 6,634,140 shares during the period. State Street Corp boosted its position in shares of Cisco Systems by 0.7% in the first quarter. State Street Corp now owns 204,881,308 shares of the network equipment provider’s stock worth $5,832,976,000 after buying an additional 1,454,960 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Cisco Systems by 0.5% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 138,005,447 shares of the network equipment provider’s stock worth $3,959,376,000 after buying an additional 703,405 shares during the period. FMR LLC boosted its position in shares of Cisco Systems by 6.8% in the second quarter. FMR LLC now owns 99,188,718 shares of the network equipment provider’s stock worth $2,845,725,000 after buying an additional 6,312,071 shares during the period. Finally, BlackRock Fund Advisors boosted its position in shares of Cisco Systems by 5.9% in the second quarter. BlackRock Fund Advisors now owns 74,322,079 shares of the network equipment provider’s stock worth $2,132,300,000 after buying an additional 4,111,441 shares during the period. Institutional investors own 75.04% of the company’s stock.
About Cisco Systems
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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