Cisco Systems, Inc. (CSCO) Price Target Increased to $44.00 by Analysts at Argus
Cisco Systems, Inc. (NASDAQ:CSCO) had its price target raised by Argus from $41.00 to $44.00 in a research note released on Friday. They currently have a buy rating on the network equipment provider’s stock.
CSCO has been the topic of several other reports. Jefferies Group LLC lifted their price target on shares of Cisco Systems to $40.00 and gave the company a buy rating in a report on Thursday, November 16th. Deutsche Bank AG reaffirmed a buy rating and set a $45.00 price target (up from $40.00) on shares of Cisco Systems in a report on Thursday, November 16th. Bank of America Corporation lifted their price target on shares of Cisco Systems from $35.00 to $37.00 and gave the company a neutral rating in a report on Thursday, November 16th. Vetr raised shares of Cisco Systems from a hold rating to a buy rating and set a $35.02 price target on the stock in a report on Wednesday, September 6th. Finally, Robert W. Baird reiterated a buy rating and set a $38.00 target price on shares of Cisco Systems in a research report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $36.73.
Shares of Cisco Systems (CSCO) opened at $36.50 on Friday. The stock has a market cap of $180,540.00, a P/E ratio of 16.54, a P/E/G ratio of 3.17 and a beta of 1.15. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $36.67.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results 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 company had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 EPS. research analysts anticipate that Cisco Systems will post 2.16 earnings per share for the current fiscal year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 60.10%.
In related news, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 121,390 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the completion of the transaction, the chief executive officer now directly owns 552,694 shares in the company, valued at $17,719,369.64. The disclosure for this sale can be found here. Insiders sold a total of 485,138 shares of company stock worth $15,347,574 over the last three months. 0.05% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. Boston Partners lifted its holdings in Cisco Systems by 304.2% during the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after purchasing an additional 23,002,159 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Cisco Systems by 23.6% during the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after purchasing an additional 11,972,070 shares during the last quarter. Stifel Financial Corp lifted its holdings in Cisco Systems by 6,109.5% during the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock valued at $273,977,000 after purchasing an additional 8,016,561 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after purchasing an additional 7,411,891 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Cisco Systems by 54.2% during the second quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after purchasing an additional 5,049,326 shares during the last quarter. 75.14% of the stock is currently 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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