Goldman Sachs Group assumed coverage on shares of Cisco Systems (NASDAQ:CSCO) in a report released on Wednesday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $48.00 price target on the network equipment provider’s stock.

Several other equities research analysts also recently issued reports on the company. Barclays raised their price target on Cisco Systems from $37.00 to $45.00 and gave the company an overweight rating in a report on Wednesday, January 17th. Oppenheimer reaffirmed a buy rating and set a $36.00 price target on shares of Cisco Systems in a report on Tuesday, October 31st. Vetr downgraded Cisco Systems from a buy rating to a hold rating and set a $35.78 price target for the company. in a report on Friday, November 17th. Cowen reaffirmed a buy rating on shares of Cisco Systems in a report on Friday, November 17th. Finally, Deutsche Bank reaffirmed a buy rating and set a $45.00 price target (up previously from $40.00) on shares of Cisco Systems in a report on Thursday, November 16th. Thirteen equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $39.54.

Shares of Cisco Systems (CSCO) opened at $39.53 on Wednesday. The company has a market capitalization of $199,250.00, a P/E ratio of 20.48, a PEG ratio of 3.48 and a beta of 1.23. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. Cisco Systems has a twelve month low of $30.36 and a twelve month high of $42.98.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The business had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the firm posted $0.61 EPS. The company’s quarterly revenue was down 1.7% on a year-over-year basis. analysts forecast that Cisco Systems will post 2.23 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Shareholders of record on Friday, January 5th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Thursday, January 4th. Cisco Systems’s payout ratio is 60.10%.

In related news, CAO Prat Bhatt sold 2,606 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $95,092.94. Following the transaction, the chief accounting officer now owns 89,184 shares in the company, valued at $3,254,324.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Karen Walker sold 5,786 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $211,131.14. Following the completion of the transaction, the senior vice president now owns 176,418 shares in the company, valued at approximately $6,437,492.82. The disclosure for this sale can be found here. Insiders have sold a total of 348,643 shares of company stock worth $12,892,271 in the last quarter. Company insiders own 0.05% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CSCO. Bank of New York Mellon Corp grew its position in Cisco Systems by 12.8% in the fourth quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock valued at $4,709,302,000 after acquiring an additional 13,927,416 shares during the last quarter. Ameriprise Financial Inc. grew its position in Cisco Systems by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock valued at $2,109,614,000 after acquiring an additional 11,972,070 shares during the last quarter. Stifel Financial Corp grew its position in Cisco Systems by 6,109.5% in the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock valued at $273,977,000 after acquiring an additional 8,016,561 shares during the last quarter. Vanguard Group Inc. grew its position in Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after acquiring an additional 7,411,891 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Cisco Systems by 54.2% in the second quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after acquiring an additional 5,049,326 shares during the last quarter. Institutional investors own 75.64% of the company’s stock.

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Cisco Systems Company Profile

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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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