Cisco Systems (NASDAQ:CSCO) Given New $50.00 Price Target at Credit Suisse Group

Cisco Systems (NASDAQ:CSCO) had its target price reduced by Credit Suisse Group from $52.00 to $50.00 in a research report released on Thursday morning, reports. They currently have a neutral rating on the network equipment provider’s stock.

Several other research analysts also recently commented on CSCO. Oppenheimer lifted their price objective on Cisco Systems from $52.00 to $60.00 and gave the stock an outperform rating in a report on Friday, April 26th. Zacks Investment Research upgraded Cisco Systems from a hold rating to a buy rating and set a $63.00 price target on the stock in a report on Tuesday, May 21st. JPMorgan Chase & Co. set a $62.00 price target on Cisco Systems and gave the company a buy rating in a report on Monday, August 12th. Barclays assumed coverage on Cisco Systems in a report on Wednesday, August 7th. They set an equal weight rating and a $52.00 price target on the stock. Finally, William Blair downgraded Cisco Systems from an outperform rating to a market perform rating and set a $56.10 price target on the stock. in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company. Cisco Systems currently has a consensus rating of Buy and a consensus target price of $56.59.

CSCO opened at $46.96 on Thursday. The company has a market cap of $197.98 billion, a P/E ratio of 16.40, a P/E/G ratio of 2.12 and a beta of 1.18. The business’s 50-day moving average price is $55.20 and its 200-day moving average price is $53.85. The company has a current ratio of 1.51, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. Cisco Systems has a 12 month low of $40.25 and a 12 month high of $58.26.

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 Thomson Reuters’ consensus estimate of $0.82 by $0.01. The firm had revenue of $13.43 billion for the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 earnings per share. Equities research analysts forecast that Cisco Systems will post 3.11 earnings per share for the current fiscal year.

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

In other news, Director Wesley G. Bush acquired 10,000 shares of the business’s stock in a transaction on Friday, June 7th. The shares were acquired at an average cost of $55.74 per share, with a total value of $557,400.00. Following the transaction, the director now owns 3,017 shares in the company, valued at approximately $168,167.58. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $53.56, for a total value of $3,749,200.00. Following the sale, the chief financial officer now directly owns 349,122 shares in the company, valued at $18,698,974.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 91,379 shares of company stock worth $4,950,541. Insiders own 0.03% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Evolution Wealth Advisors LLC bought a new position in Cisco Systems in the 2nd quarter valued at approximately $33,000. Lowe Wealth Advisors LLC bought a new position in Cisco Systems in the 2nd quarter valued at approximately $38,000. Personal Wealth Partners bought a new position in Cisco Systems in the 2nd quarter valued at approximately $44,000. Ashburton Jersey Ltd bought a new position in Cisco Systems in the 2nd quarter valued at approximately $49,000. Finally, Lucia Wealth Services LLC lifted its position in Cisco Systems by 72.3% in the 2nd quarter. Lucia Wealth Services LLC now owns 1,144 shares of the network equipment provider’s stock valued at $63,000 after acquiring an additional 480 shares in the last quarter. 73.73% of the stock is currently owned by institutional investors and hedge funds.

About Cisco Systems

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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