Brokerages Set Cisco Systems (CSCO) Target Price at $44.51
Cisco Systems (NASDAQ:CSCO) has been assigned a consensus recommendation of “Buy” from the thirty-seven brokerages that are presently covering the stock, Marketbeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation, twenty-four have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $44.51.
A number of equities analysts have recently commented on CSCO shares. Vetr downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $46.32 price objective for the company. in a research note on Wednesday, April 18th. BidaskClub upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Citigroup increased their price objective on shares of Cisco Systems from $46.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, March 16th. BMO Capital Markets increased their price objective on shares of Cisco Systems from $36.00 to $43.00 and gave the stock a “market perform” rating in a research note on Thursday, February 15th. Finally, KeyCorp increased their price objective on shares of Cisco Systems from $43.00 to $49.00 and gave the stock an “overweight” rating in a research note on Thursday, February 15th.
Shares of NASDAQ CSCO opened at $44.71 on Wednesday. The firm has a market capitalization of $212,982.47, a P/E ratio of 20.80, a P/E/G ratio of 3.16 and a beta of 1.14. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38. Cisco Systems has a 1-year low of $30.36 and a 1-year high of $46.16.
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th were issued a $0.33 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Wednesday, April 4th. Cisco Systems’s dividend payout ratio is currently 61.40%.
Cisco Systems declared that its board has authorized a stock buyback plan on Wednesday, February 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other Cisco Systems news, Director M Michele Burns sold 12,126 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $45.37, for a total value of $550,156.62. Following the transaction, the director now directly owns 74,479 shares of the company’s stock, valued at approximately $3,379,112.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP David Goeckeler sold 20,671 shares of the stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $45.50, for a total transaction of $940,530.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,986 shares of company stock worth $2,116,422. Insiders own 0.05% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in CSCO. Beach Investment Management LLC. bought a new position in shares of Cisco Systems during the second quarter worth approximately $1,030,000. Crawford Investment Counsel Inc. boosted its position in shares of Cisco Systems by 150.2% during the 2nd quarter. Crawford Investment Counsel Inc. now owns 497,444 shares of the network equipment provider’s stock worth $15,570,000 after acquiring an additional 298,602 shares in the last quarter. Cornerstone Advisory LLP boosted its position in shares of Cisco Systems by 6.3% during the 2nd quarter. Cornerstone Advisory LLP now owns 8,355 shares of the network equipment provider’s stock worth $262,000 after acquiring an additional 494 shares in the last quarter. Commerce Bank boosted its position in shares of Cisco Systems by 98.0% during the 2nd quarter. Commerce Bank now owns 1,268,079 shares of the network equipment provider’s stock worth $39,691,000 after acquiring an additional 627,692 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC boosted its position in shares of Cisco Systems by 0.7% during the 2nd quarter. Marble Harbor Investment Counsel LLC now owns 445,417 shares of the network equipment provider’s stock worth $13,942,000 after acquiring an additional 3,020 shares in the last quarter. 77.58% of the stock is currently owned by institutional investors.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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