Cisco Systems (NASDAQ:CSCO) Given “Hold” Rating at Robert W. Baird
Robert W. Baird reissued their hold rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note released on Monday morning, AnalystRatings.com reports. The firm currently has a $48.00 target price on the network equipment provider’s stock.
Other equities research analysts have also recently issued research reports about the stock. UBS Group cut their price target on shares of Cisco Systems from $54.00 to $51.00 and set a buy rating on the stock in a report on Thursday, May 14th. Citigroup increased their price target on shares of Cisco Systems from $40.00 to $48.00 and gave the company a buy rating in a report on Thursday, May 14th. Needham & Company LLC restated a hold rating on shares of Cisco Systems in a research report on Thursday, May 14th. BidaskClub downgraded shares of Cisco Systems from a sell rating to a strong sell rating in a research report on Saturday, August 1st. Finally, MKM Partners increased their price objective on shares of Cisco Systems from $40.00 to $48.00 and gave the company a neutral rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the stock. Cisco Systems currently has an average rating of Hold and a consensus target price of $49.88.
NASDAQ:CSCO opened at $48.10 on Monday. The company’s 50 day moving average price is $46.56 and its 200-day moving average price is $44.10. Cisco Systems has a 52 week low of $32.40 and a 52 week high of $52.12. The company has a quick ratio of 1.55, a current ratio of 1.59 and a debt-to-equity ratio of 0.32. The stock has a market cap of $180.38 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 3.11 and a beta of 0.96.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Monday, July 6th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.44 annualized dividend and a dividend yield of 2.99%. Cisco Systems’s payout ratio is 50.53%.
In other news, CAO Prat Bhatt sold 5,703 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $44.87, for a total transaction of $255,893.61. Following the sale, the chief accounting officer now directly owns 85,613 shares in the company, valued at approximately $3,841,455.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.03% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Kiley Juergens Wealth Management LLC grew its stake in Cisco Systems by 2.2% during the second quarter. Kiley Juergens Wealth Management LLC now owns 21,950 shares of the network equipment provider’s stock valued at $1,023,000 after acquiring an additional 475 shares in the last quarter. Community Bank N.A. grew its stake in Cisco Systems by 4.7% during the second quarter. Community Bank N.A. now owns 173,051 shares of the network equipment provider’s stock valued at $8,070,000 after acquiring an additional 7,830 shares in the last quarter. Corbenic Partners LLC purchased a new position in Cisco Systems during the first quarter valued at $1,809,000. Exchange Traded Concepts LLC grew its stake in Cisco Systems by 30.1% during the first quarter. Exchange Traded Concepts LLC now owns 13,082 shares of the network equipment provider’s stock valued at $514,000 after acquiring an additional 3,023 shares in the last quarter. Finally, Balentine LLC purchased a new position in Cisco Systems during the first quarter valued at $131,000. 71.36% of the stock is owned by institutional investors.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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