Cisco Systems (NASDAQ:CSCO) Price Target Raised to $54.00

Cisco Systems (NASDAQ:CSCO) had its price target lifted by KeyCorp from $52.00 to $54.00 in a report issued on Wednesday, BenzingaRatingsTable reports. They currently have an overweight rating on the network equipment provider’s stock.

CSCO has been the topic of several other research reports. Robert W. Baird reiterated a buy rating and set a $54.00 price target on shares of Cisco Systems in a research report on Monday, November 11th. Evercore ISI restated a buy rating on shares of Cisco Systems in a report on Sunday, December 15th. Zacks Investment Research upgraded shares of Cisco Systems from a sell rating to a hold rating and set a $50.00 price objective on the stock in a report on Wednesday, January 15th. Needham & Company LLC restated a hold rating on shares of Cisco Systems in a report on Thursday, November 14th. Finally, BidaskClub upgraded shares of Cisco Systems from a sell rating to a hold rating in a report on Wednesday. Thirteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $54.78.

Shares of NASDAQ CSCO opened at $48.85 on Wednesday. Cisco Systems has a 1 year low of $43.40 and a 1 year high of $58.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64. The company’s 50-day moving average is $47.21 and its 200 day moving average is $48.84. The stock has a market capitalization of $207.23 billion, a P/E ratio of 19.46, a P/E/G ratio of 2.85 and a beta of 1.23.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The company had revenue of $13.16 billion for the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. Cisco Systems’s quarterly revenue was up .7% on a year-over-year basis. Research analysts anticipate that Cisco Systems will post 2.94 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date was Thursday, January 2nd. Cisco Systems’s payout ratio is 49.12%.

In other news, CAO Prat Bhatt sold 39,343 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $44.88, for a total transaction of $1,765,713.84. Following the sale, the chief accounting officer now owns 137,634 shares in the company, valued at $6,177,013.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the sale, the chief financial officer now owns 352,587 shares in the company, valued at approximately $15,933,406.53. The disclosure for this sale can be found here. In the last quarter, insiders have sold 388,864 shares of company stock worth $17,474,321. Corporate insiders own 0.03% of the company’s stock.

Large investors have recently bought and sold shares of the company. Cordasco Financial Network lifted its position in Cisco Systems by 78.4% during the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after purchasing an additional 502 shares during the period. Candriam Luxembourg S.C.A. lifted its position in Cisco Systems by 21.1% during the third quarter. Candriam Luxembourg S.C.A. now owns 1,483,927 shares of the network equipment provider’s stock valued at $75,000 after purchasing an additional 258,073 shares during the period. Larson Financial Group LLC lifted its position in Cisco Systems by 408.5% during the third quarter. Larson Financial Group LLC now owns 1,561 shares of the network equipment provider’s stock valued at $77,000 after purchasing an additional 1,254 shares during the period. Phocas Financial Corp. bought a new position in Cisco Systems during the second quarter valued at approximately $82,000. Finally, Ellevest Inc. lifted its position in Cisco Systems by 32.3% during the second quarter. Ellevest Inc. now owns 1,810 shares of the network equipment provider’s stock valued at $99,000 after purchasing an additional 442 shares during the period. Hedge funds and other institutional investors own 72.62% of the company’s stock.

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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