Cisco Systems (NASDAQ:CSCO) Price Target Raised to $60.00

Cisco Systems (NASDAQ:CSCO) had its target price upped by Wells Fargo & Company from $57.00 to $60.00 in a research report report published on Thursday morning,Benzinga reports. They currently have an equal weight rating on the network equipment provider’s stock.

CSCO has been the topic of a number of other reports. Evercore ISI boosted their price objective on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Eleven equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $59.42.

Cisco Systems Trading Down 0.8 %

NASDAQ:CSCO opened at $57.46 on Thursday. Cisco Systems has a 12 month low of $44.50 and a 12 month high of $59.38. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $54.18 and its 200 day moving average is $49.76. The stock has a market capitalization of $229.31 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 4.90 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. Sell-side analysts expect that Cisco Systems will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Insider Activity

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the completion of the sale, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. This represents a 5.75 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 22,309 shares of Cisco Systems stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total transaction of $1,115,450.00. Following the completion of the transaction, the chief financial officer now owns 293,184 shares in the company, valued at approximately $14,659,200. The trade was a 7.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,924 shares of company stock worth $1,798,131. 0.01% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Swedbank AB bought a new position in Cisco Systems during the 1st quarter worth approximately $840,538,000. FMR LLC boosted its stake in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after purchasing an additional 5,885,879 shares during the period. Two Sigma Advisers LP grew its holdings in shares of Cisco Systems by 327.5% in the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cisco Systems by 22.5% in the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares during the period. Finally, Pathway Financial Advisers LLC raised its holdings in Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after buying an additional 4,842,542 shares during the last quarter. 73.33% 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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.