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

Truist Financial initiated coverage on shares of Cisco Systems (NASDAQ:CSCOFree Report) in a report published on Tuesday, Marketbeat Ratings reports. The brokerage issued a buy rating and a $94.00 price target on the network equipment provider’s stock.

Several other research firms have also commented on CSCO. HSBC lifted their price objective on shares of Cisco Systems from $74.00 to $77.00 and gave the stock a “hold” rating in a research note on Friday, February 13th. BNP Paribas Exane upped their price target on shares of Cisco Systems from $86.00 to $87.00 and gave the company an “outperform” rating in a report on Thursday, February 12th. Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Cisco Systems in a research report on Thursday, February 12th. Wall Street Zen downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. Finally, Argus upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, February 13th. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $89.76.

Read Our Latest Report on CSCO

Cisco Systems Stock Performance

Cisco Systems stock opened at $77.59 on Tuesday. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. Cisco Systems has a twelve month low of $52.11 and a twelve month high of $88.18. The company’s 50-day moving average price is $79.10 and its 200-day moving average price is $75.49. The company has a market cap of $306.47 billion, a PE ratio of 27.22, a price-to-earnings-growth ratio of 2.91 and a beta of 0.87.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. The company had revenue of $15.35 billion for the quarter, compared to analysts’ expectations of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. On average, equities research analysts forecast that Cisco Systems will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd will be issued a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 2.2%. The ex-dividend date is Thursday, April 2nd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio (DPR) is 57.54%.

Insiders Place Their Bets

In other news, EVP Oliver Tuszik sold 3,132 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $79.74, for a total transaction of $249,745.68. Following the transaction, the executive vice president owned 188,613 shares of the company’s stock, valued at approximately $15,040,000.62. This represents a 1.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Charles Robbins sold 19,545 shares of Cisco Systems stock in a transaction dated Friday, February 13th. The shares were sold at an average price of $76.00, for a total value of $1,485,420.00. Following the completion of the sale, the chief executive officer owned 671,095 shares of the company’s stock, valued at $51,003,220. The trade was a 2.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 46,431 shares of company stock worth $3,574,820. 0.01% of the stock is owned by company insiders.

Institutional Trading of Cisco Systems

A number of hedge funds have recently bought and sold shares of the stock. Smithfield Trust Co boosted its position in Cisco Systems by 0.3% during the fourth quarter. Smithfield Trust Co now owns 33,666 shares of the network equipment provider’s stock valued at $2,596,000 after purchasing an additional 117 shares in the last quarter. Main Management ETF Advisors LLC boosted its holdings in shares of Cisco Systems by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 12,528 shares of the network equipment provider’s stock valued at $965,000 after buying an additional 128 shares in the last quarter. First Commonwealth Financial Corp PA raised its stake in shares of Cisco Systems by 0.9% during the 4th quarter. First Commonwealth Financial Corp PA now owns 13,656 shares of the network equipment provider’s stock worth $1,052,000 after acquiring an additional 128 shares in the last quarter. Cairn Investment Group Inc. lifted its position in Cisco Systems by 0.5% during the fourth quarter. Cairn Investment Group Inc. now owns 24,146 shares of the network equipment provider’s stock valued at $1,860,000 after acquiring an additional 130 shares during the last quarter. Finally, Juncture Wealth Strategies LLC boosted its stake in Cisco Systems by 0.9% in the fourth quarter. Juncture Wealth Strategies LLC now owns 15,042 shares of the network equipment provider’s stock valued at $1,159,000 after acquiring an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

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Cisco Systems Company Profile

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Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.

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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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