Goldman Sachs Group downgraded shares of Cisco Systems (NASDAQ:CSCO) from a buy rating to a neutral rating in a report issued on Thursday morning, BenzingaRatingsTable reports. Goldman Sachs Group currently has $48.00 price objective on the network equipment provider’s stock, down from their prior price objective of $56.00.

Several other equities analysts have also commented on the stock. Bank of America reaffirmed a buy rating and issued a $62.00 price objective on shares of Cisco Systems in a research report on Wednesday, July 10th. Cowen decreased their price objective on shares of Cisco Systems from $65.00 to $61.00 and set an outperform rating for the company in a research report on Thursday, August 15th. Royal Bank of Canada decreased their price objective on shares of Cisco Systems from $64.00 to $53.00 and set an outperform rating for the company in a research report on Thursday, August 15th. MKM Partners decreased their price objective on shares of Cisco Systems from $56.00 to $51.00 and set a neutral rating for the company in a research report on Thursday, August 15th. Finally, Morgan Stanley decreased their price objective on shares of Cisco Systems from $51.00 to $49.00 and set an equal weight rating for the company in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $56.04.

Shares of NASDAQ:CSCO traded down $0.51 during trading on Thursday, reaching $46.05. The stock had a trading volume of 13,611,408 shares, compared to its average volume of 20,845,896. Cisco Systems has a one year low of $40.25 and a one year high of $58.26. The company has a market capitalization of $197.66 billion, a P/E ratio of 16.16, a PEG ratio of 2.23 and a beta of 1.28. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $48.07 and its 200 day simple moving average is $53.10.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data 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 firm had revenue of $13.43 billion during the quarter, compared to analyst estimates of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. Cisco Systems’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $0.70 EPS. Equities research analysts forecast that Cisco Systems will post 3.05 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Thursday, October 3rd. Cisco Systems’s dividend payout ratio is presently 49.12%.

In other Cisco Systems news, SVP Irving Tan sold 22,896 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $1,131,520.32. Following the completion of the transaction, the senior vice president now directly owns 154,819 shares of the company’s stock, valued at approximately $7,651,154.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Goeckeler sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the transaction, the executive vice president now directly owns 429,398 shares of the company’s stock, valued at $21,134,969.56. The disclosure for this sale can be found here. Insiders have sold a total of 193,130 shares of company stock valued at $9,359,179 over the last three months. 0.03% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of CSCO. Evolution Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the 2nd quarter valued at approximately $33,000. Lowe Wealth Advisors LLC purchased a new position in shares of Cisco Systems during the 2nd quarter valued at approximately $38,000. Personal Wealth Partners purchased a new position in shares of Cisco Systems during the 2nd quarter valued at approximately $44,000. Ashburton Jersey Ltd purchased a new position in shares of Cisco Systems during the 2nd quarter valued at approximately $49,000. Finally, Cohen & Steers Inc. purchased a new position in shares of Cisco Systems during the 4th quarter valued at approximately $51,000. 73.34% of the stock is owned by institutional investors.

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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