Citigroup Trims Cisco Systems (NASDAQ:CSCO) Target Price to $57.00

Cisco Systems (NASDAQ:CSCO) had its price objective cut by Citigroup from $65.00 to $57.00 in a report released on Thursday morning, The Fly reports. They currently have a buy rating on the network equipment provider’s stock.

Other equities research analysts have also issued reports about the stock. Credit Suisse Group reiterated a neutral rating and issued a $52.00 price objective (up from $47.00) on shares of Cisco Systems in a research report on Thursday, May 16th. Jefferies Financial Group boosted their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a buy rating in a research report on Thursday, May 16th. They noted that the move was a valuation call. MKM Partners boosted their price objective on shares of Cisco Systems to $56.00 and gave the stock a neutral rating in a research report on Thursday, May 16th. UBS Group set a $61.00 price objective on shares of Cisco Systems and gave the stock a buy rating in a research report on Wednesday, June 26th. Finally, Oppenheimer boosted their price objective on shares of Cisco Systems from $52.00 to $60.00 and gave the stock an outperform rating in a research report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $56.59.

Cisco Systems stock opened at $46.96 on Thursday. Cisco Systems has a 52 week low of $40.25 and a 52 week high of $58.26. The company has a quick ratio of 1.64, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. The firm’s 50-day simple moving average is $55.20 and its 200 day simple moving average is $53.85. The firm has a market capitalization of $197.98 billion, a PE ratio of 16.48, a P/E/G ratio of 2.12 and a beta of 1.18.



Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The business had revenue of $13.43 billion for the quarter, compared to analyst estimates of $13.39 billion. During the same period in the previous year, the firm earned $0.70 EPS. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, research analysts expect that Cisco Systems will post 3.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.98%. The ex-dividend date was Wednesday, July 3rd. Cisco Systems’s payout ratio is 49.12%.

In related news, Director Wesley G. Bush acquired 10,000 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was bought at an average price of $55.74 per share, with a total value of $557,400.00. Following the purchase, the director now directly owns 3,017 shares in the company, valued at approximately $168,167.58. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the transaction, the chief financial officer now directly owns 349,122 shares of the company’s stock, valued at approximately $18,698,974.32. The disclosure for this sale can be found here. Insiders sold a total of 95,129 shares of company stock valued at $5,159,754 in the last three months. 0.03% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Great Valley Advisor Group Inc. boosted its holdings in Cisco Systems by 87.1% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 53,601 shares of the network equipment provider’s stock worth $2,935,000 after acquiring an additional 24,948 shares during the period. Atlas Brown Inc. raised its position in shares of Cisco Systems by 6.8% during the 2nd quarter. Atlas Brown Inc. now owns 16,157 shares of the network equipment provider’s stock valued at $884,000 after acquiring an additional 1,025 shares in the last quarter. UMB Bank N A MO increased its position in Cisco Systems by 104.5% in the second quarter. UMB Bank N A MO now owns 362,875 shares of the network equipment provider’s stock worth $19,860,000 after buying an additional 185,451 shares during the period. Brookstone Capital Management increased its position in Cisco Systems by 12.9% in the second quarter. Brookstone Capital Management now owns 11,361 shares of the network equipment provider’s stock worth $622,000 after buying an additional 1,294 shares during the period. Finally, Butensky & Cohen Financial Security Inc. increased its position in Cisco Systems by 1.8% in the second quarter. Butensky & Cohen Financial Security Inc. now owns 47,771 shares of the network equipment provider’s stock worth $2,615,000 after buying an additional 859 shares during the period. 74.28% of the stock is owned by hedge funds and other 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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