Cisco Systems, Inc. (CSCO) Stock Price Up 0.4% After Analyst Upgrade
Shares of Cisco Systems, Inc. (NASDAQ:CSCO) rose 0.4% during mid-day trading on Friday after Argus raised their price target on the stock from $41.00 to $44.00. Argus currently has a buy rating on the stock. Cisco Systems traded as high as $36.67 and last traded at $36.03. Approximately 15,715,565 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 20,176,957 shares. The stock had previously closed at $35.88.
Other analysts also recently issued research reports about the company. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 target price on the stock. in a research report on Wednesday, August 30th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Cisco Systems in a research report on Thursday, August 31st. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research report on Friday, October 20th. Robert W. Baird reaffirmed a “buy” rating and issued a $38.00 target price on shares of Cisco Systems in a research report on Monday, September 11th. Finally, ValuEngine raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $36.67.
In related news, SVP Mark D. Chandler sold 65,000 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $32.43, for a total value of $2,107,950.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the sale, the insider now owns 729,305 shares in the company, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Insiders sold a total of 485,138 shares of company stock worth $15,347,574 in the last 90 days. 0.05% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after buying an additional 7,411,891 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Cisco Systems by 23.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after buying an additional 11,972,070 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Cisco Systems by 6.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock valued at $1,639,089,000 after buying an additional 2,987,682 shares during the last quarter. Nordea Investment Management AB increased its stake in Cisco Systems by 8.3% in the 3rd quarter. Nordea Investment Management AB now owns 34,013,570 shares of the network equipment provider’s stock valued at $1,143,876,000 after buying an additional 2,617,310 shares during the last quarter. Finally, Boston Partners increased its stake in Cisco Systems by 304.2% in the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after buying an additional 23,002,159 shares during the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.
The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. The firm has a market cap of $178,360.00, a P/E ratio of 15.72, a P/E/G ratio of 2.98 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.67%. The company had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter last year, the business posted $0.61 EPS. Cisco Systems’s quarterly revenue was down 1.7% compared to the same quarter last year. equities research analysts predict that Cisco Systems, Inc. will post 2.18 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.22%. Cisco Systems’s payout ratio is currently 60.10%.
COPYRIGHT VIOLATION NOTICE: This article was originally published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this article on another domain, it was stolen and reposted in violation of international copyright and trademark laws. The original version of this article can be accessed at https://theolympiareport.com/2017/11/17/cisco-systems-inc-csco-stock-price-up-0-4-after-analyst-upgrade.html.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.