Cisco Systems (NASDAQ:CSCO) Upgraded to Buy at Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems (NASDAQ:CSCO) from a hold rating to a buy rating in a research note issued to investors on Monday, MarketBeat Ratings reports. Deutsche Bank Aktiengesellschaft currently has $73.00 target price on the network equipment provider’s stock, up from their prior target price of $65.00.

Several other research firms have also recently commented on CSCO. Morgan Stanley reissued a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. JPMorgan Chase & Co. lifted their price target on Cisco Systems from $70.00 to $73.00 and gave the stock an “overweight” rating in a report on Thursday, May 15th. Piper Sandler increased their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research report on Thursday, May 15th. Citigroup increased their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Finally, New Street Research reissued a “neutral” rating and issued a $70.00 target price on shares of Cisco Systems in a report on Friday, May 16th. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.11.

Cisco Systems Stock Up 2.2%

Shares of CSCO opened at $65.51 on Monday. The firm has a market cap of $259.42 billion, a P/E ratio of 28.61, a PEG ratio of 4.16 and a beta of 0.88. The stock’s 50 day moving average is $60.72 and its two-hundred day moving average is $60.62. Cisco Systems has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter last year, the business posted $0.88 earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year. Analysts predict that Cisco Systems will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 66.94%.

Insider Transactions at Cisco Systems

In related news, EVP Oliver Tuszik sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the sale, the executive vice president now owns 131,676 shares in the company, valued at $8,365,376.28. This represents a 10.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the company’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $63.50, for a total value of $612,330.50. Following the completion of the sale, the executive vice president now owns 181,186 shares in the company, valued at approximately $11,505,311. This represents a 5.05% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 72,931 shares of company stock valued at $4,671,930. Corporate insiders own 0.01% of the company’s stock.

Institutional Investors Weigh In On Cisco Systems

Institutional investors and hedge funds have recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the 4th quarter worth approximately $26,000. Navigoe LLC acquired a new stake in Cisco Systems during the 4th quarter valued at $26,000. Mpwm Advisory Solutions LLC acquired a new stake in Cisco Systems during the 4th quarter valued at $26,000. JDM Financial Group LLC grew its holdings in Cisco Systems by 160.4% during the 4th quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. Finally, Runnymede Capital Advisors Inc. acquired a new stake in Cisco Systems during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 73.33% 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 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 and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.