BidaskClub cut shares of Cisco Systems (NASDAQ:CSCO) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, BidAskClub reports.

CSCO has been the topic of several other research reports. KeyCorp lifted their price target on Cisco Systems from $53.00 to $55.00 and gave the stock an overweight rating in a research report on Thursday, February 14th. Oppenheimer lifted their target price on Cisco Systems from $52.00 to $60.00 and gave the company an outperform rating in a research note on Friday, April 26th. Bank of America reiterated a buy rating and issued a $56.00 target price on shares of Cisco Systems in a research note on Thursday, February 14th. Zacks Investment Research downgraded Cisco Systems from a buy rating to a hold rating in a research note on Thursday, May 16th. Finally, MKM Partners lifted their target price on Cisco Systems to $56.00 and gave the company a neutral rating in a research note on Thursday, May 16th. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The company has a consensus rating of Buy and an average price target of $55.87.

Shares of NASDAQ CSCO opened at $57.11 on Tuesday. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. Cisco Systems has a fifty-two week low of $40.25 and a fifty-two week high of $57.56. The stock has a market cap of $244.47 billion, a PE ratio of 24.41, a price-to-earnings-growth ratio of 2.86 and a beta of 1.20.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The business had revenue of $12.96 billion for the quarter, compared to analyst estimates of $12.89 billion. During the same quarter last year, the company earned $0.66 EPS. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Equities analysts forecast that Cisco Systems will post 2.8 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be paid a $0.35 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.45%. Cisco Systems’s dividend payout ratio (DPR) is presently 59.83%.

Cisco Systems announced that its board has authorized a share buyback plan on Wednesday, February 13th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to repurchase up to 6.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

In related news, Director Wesley G. Bush purchased 10,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was bought at an average cost of $55.74 per share, with a total value of $557,400.00. Following the completion of the acquisition, the director now directly owns 3,017 shares in the company, valued at approximately $168,167.58. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mark D. Chandler sold 3,750 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $55.79, for a total value of $209,212.50. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Investment Partners LTD. increased its stake in Cisco Systems by 0.7% during the first quarter. Investment Partners LTD. now owns 28,696 shares of the network equipment provider’s stock worth $1,549,000 after acquiring an additional 186 shares during the last quarter. Hanson McClain Inc. increased its stake in Cisco Systems by 1.5% during the first quarter. Hanson McClain Inc. now owns 12,792 shares of the network equipment provider’s stock worth $691,000 after acquiring an additional 193 shares during the last quarter. BlueSky Wealth Advisors LLC increased its stake in Cisco Systems by 3.4% during the first quarter. BlueSky Wealth Advisors LLC now owns 6,047 shares of the network equipment provider’s stock worth $334,000 after acquiring an additional 200 shares during the last quarter. Gilbert & Cook Inc. increased its stake in Cisco Systems by 2.2% during the first quarter. Gilbert & Cook Inc. now owns 9,181 shares of the network equipment provider’s stock worth $495,000 after acquiring an additional 202 shares during the last quarter. Finally, Harwood Advisory Group LLC increased its stake in Cisco Systems by 0.4% during the first quarter. Harwood Advisory Group LLC now owns 55,044 shares of the network equipment provider’s stock worth $2,972,000 after acquiring an additional 205 shares during the last quarter. 74.60% 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 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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