Shares of Cisco Systems, Inc. (NASDAQ:CSCO) have been assigned an average recommendation of “Buy” from the thirty-two brokerages that are covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $49.74.

CSCO has been the subject of several recent research reports. JPMorgan Chase & Co. set a $59.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Thursday, August 16th. KeyCorp upped their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock an “overweight” rating in a research report on Thursday, November 15th. Loop Capital raised shares of Cisco Systems from a “hold” rating to a “positive” rating and set a $45.00 price objective for the company in a research report on Thursday, November 15th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Wednesday, October 3rd. Finally, Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Tuesday, September 11th.

In related news, SVP Irving Tan sold 68,308 shares of the company’s stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $47.38, for a total transaction of $3,236,433.04. Following the sale, the senior vice president now directly owns 150,763 shares in the company, valued at approximately $7,143,150.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Goeckeler sold 63,050 shares of the company’s stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $2,999,288.50. Following the sale, the executive vice president now owns 547,019 shares in the company, valued at $26,021,693.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 558,943 shares of company stock worth $26,362,383. Corporate insiders own 0.03% of the company’s stock.

Several hedge funds have recently made changes to their positions in CSCO. Bank of New York Mellon Corp lifted its stake in shares of Cisco Systems by 193,168.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock valued at $5,095,693,000 after buying an additional 104,687,754 shares in the last quarter. Morgan Stanley lifted its stake in Cisco Systems by 15.9% in the 2nd quarter. Morgan Stanley now owns 50,957,358 shares of the network equipment provider’s stock worth $2,192,694,000 after purchasing an additional 7,009,359 shares in the last quarter. Charles Schwab Investment Advisory Inc. purchased a new stake in Cisco Systems in the 2nd quarter worth approximately $279,790,000. Summit Trail Advisors LLC lifted its stake in Cisco Systems by 4,313.3% in the 1st quarter. Summit Trail Advisors LLC now owns 4,814,373 shares of the network equipment provider’s stock worth $4,814,000 after purchasing an additional 4,705,284 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in Cisco Systems by 61.0% in the 1st quarter. OppenheimerFunds Inc. now owns 9,183,708 shares of the network equipment provider’s stock worth $393,888,000 after purchasing an additional 3,479,165 shares in the last quarter. Institutional investors own 69.52% of the company’s stock.

Shares of NASDAQ:CSCO traded down $0.03 during midday trading on Thursday, hitting $47.32. 2,434,830 shares of the company’s stock were exchanged, compared to its average volume of 24,956,922. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 2.05. The company has a market cap of $228.11 billion, a PE ratio of 20.21, a PEG ratio of 2.77 and a beta of 1.15. Cisco Systems has a 12 month low of $37.17 and a 12 month high of $49.47.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.72 by $0.03. The company had revenue of $13.07 billion during the quarter, compared to the consensus estimate of $12.86 billion. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. On average, equities research analysts expect that Cisco Systems will post 2.7 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 23rd. Shareholders of record on Friday, January 4th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.79%. Cisco Systems’s payout ratio is 56.41%.

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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