Cisco Systems’ (CSCO) “Buy” Rating Reaffirmed at Bank of America

Bank of America reaffirmed their buy rating on shares of Cisco Systems (NASDAQ:CSCOGet Rating) in a research note issued to investors on Wednesday morning. The brokerage currently has a $52.00 target price on the network equipment provider’s stock.

Other research analysts have also issued reports about the company. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $51.00 to $54.00 in a research note on Friday, August 19th. UBS Group upped their target price on Cisco Systems from $46.00 to $48.00 and gave the company a neutral rating in a research note on Thursday, August 18th. Credit Suisse Group upped their target price on Cisco Systems from $60.00 to $65.00 and gave the company an outperform rating in a research note on Thursday, August 18th. KGI Securities upgraded Cisco Systems from a neutral rating to an outperform rating in a research note on Wednesday, August 31st. Finally, Morgan Stanley upped their target price on Cisco Systems from $46.00 to $48.00 and gave the company an equal weight rating in a research note on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $53.63.

Cisco Systems Stock Up 2.6 %

Shares of Cisco Systems stock opened at $47.79 on Wednesday. The stock has a market capitalization of $196.36 billion, a P/E ratio of 17.25, a PEG ratio of 2.31 and a beta of 1.00. The company has a quick ratio of 1.33, a current ratio of 1.45 and a debt-to-equity ratio of 0.19. The stock has a 50 day moving average price of $42.95 and a two-hundred day moving average price of $44.39. Cisco Systems has a 12-month low of $38.60 and a 12-month high of $64.29.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. Cisco Systems had a return on equity of 31.68% and a net margin of 22.00%. The company had revenue of $13.63 billion during the quarter, compared to analysts’ expectations of $13.29 billion. During the same period in the prior year, the business earned $0.73 earnings per share. Cisco Systems’s revenue for the quarter was up 5.7% compared to the same quarter last year. Equities analysts expect that Cisco Systems will post 3.1 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th were paid a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, October 4th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.18%. Cisco Systems’s dividend payout ratio (DPR) is presently 54.87%.

Insider Activity

In other news, EVP Jeffery S. Sharritts sold 12,838 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $47.86, for a total value of $614,426.68. Following the completion of the sale, the executive vice president now directly owns 167,532 shares in the company, valued at $8,018,081.52. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, SVP Prat Bhatt sold 19,168 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total value of $848,759.04. Following the transaction, the senior vice president now owns 38,158 shares in the company, valued at $1,689,636.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Jeffery S. Sharritts sold 12,838 shares of the firm’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $47.86, for a total value of $614,426.68. Following the completion of the transaction, the executive vice president now owns 167,532 shares in the company, valued at approximately $8,018,081.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,317 shares of company stock worth $2,612,042. 0.02% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Cisco Systems

Several hedge funds have recently added to or reduced their stakes in CSCO. Syverson Strege & Co boosted its holdings in Cisco Systems by 68.9% during the second quarter. Syverson Strege & Co now owns 591 shares of the network equipment provider’s stock worth $25,000 after buying an additional 241 shares during the last quarter. Cordant Inc. bought a new position in Cisco Systems during the first quarter worth about $28,000. Iron Horse Wealth Management LLC boosted its holdings in Cisco Systems by 328.1% during the second quarter. Iron Horse Wealth Management LLC now owns 655 shares of the network equipment provider’s stock worth $28,000 after buying an additional 502 shares during the last quarter. Johnson Midwest Financial LLC boosted its holdings in Cisco Systems by 189.7% during the second quarter. Johnson Midwest Financial LLC now owns 678 shares of the network equipment provider’s stock worth $29,000 after buying an additional 444 shares during the last quarter. Finally, Advanced Research Investment Solutions LLC boosted its holdings in Cisco Systems by 564.6% during the first quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock worth $30,000 after buying an additional 463 shares during the last quarter. Institutional investors own 71.71% of the company’s stock.

Cisco Systems Company Profile

(Get Rating)

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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