Cisco Systems (NASDAQ:CSCO) Now Covered by Analysts at KeyCorp

KeyCorp began coverage on shares of Cisco Systems (NASDAQ:CSCO) in a research report sent to investors on Thursday, MarketBeat reports. The brokerage issued an overweight rating and a $77.00 target price on the network equipment provider’s stock.

Several other equities analysts have also recently commented on CSCO. Piper Sandler raised their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Barclays restated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Citigroup lifted their price target on Cisco Systems from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. upped their price objective on Cisco Systems from $70.00 to $73.00 and gave the company an “overweight” rating in a report on Thursday, May 15th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.53.

Cisco Systems Stock Performance

CSCO opened at $68.95 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50. The business’s 50 day moving average is $62.31 and its 200-day moving average is $61.02. The stock has a market cap of $273.04 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 4.08 and a beta of 0.88. Cisco Systems has a twelve month low of $44.50 and a twelve month high of $69.16.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the previous year, the business earned $0.88 EPS. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, analysts predict that Cisco Systems will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems’s dividend payout ratio is 66.94%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, insider Jeetendra I. Patel sold 9,961 shares of Cisco Systems stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total transaction of $637,205.17. Following the transaction, the insider now owns 257,162 shares of the company’s stock, valued at $16,450,653.14. The trade was a 3.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president now directly owns 181,186 shares in the company, valued at $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,335 shares of company stock valued at $6,271,054 in the last three months. 0.01% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cisco Systems

Hedge funds have recently modified their holdings of the stock. Ashton Thomas Securities LLC raised its stake in shares of Cisco Systems by 2.9% during the 1st quarter. Ashton Thomas Securities LLC now owns 5,654 shares of the network equipment provider’s stock worth $349,000 after purchasing an additional 159 shares in the last quarter. Greenline Partners LLC raised its position in Cisco Systems by 0.5% during the first quarter. Greenline Partners LLC now owns 32,570 shares of the network equipment provider’s stock valued at $2,010,000 after acquiring an additional 162 shares in the last quarter. Glass Jacobson Investment Advisors llc lifted its stake in Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after acquiring an additional 166 shares during the last quarter. BlackDiamond Wealth Management LLC grew its position in Cisco Systems by 3.1% in the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after acquiring an additional 168 shares in the last quarter. Finally, Legacy Financial Group Inc. increased its stake in shares of Cisco Systems by 3.4% during the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock worth $302,000 after purchasing an additional 169 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

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.