UBS Group set a $58.00 price objective on Cisco Systems (NASDAQ:CSCO) in a report issued on Thursday morning, Borsen Zeitung reports. The firm currently has a buy rating on the network equipment provider’s stock.
A number of other analysts have also recently commented on CSCO. BidaskClub cut Cisco Systems from a hold rating to a sell rating in a research report on Wednesday, August 7th. Bank of America restated a buy rating and issued a $62.00 price target on shares of Cisco Systems in a research report on Wednesday, July 10th. Barclays began coverage on Cisco Systems in a research report on Wednesday, August 7th. They issued an equal weight rating and a $52.00 price target for the company. Zacks Investment Research upgraded Cisco Systems from a hold rating to a buy rating and set a $63.00 price target for the company in a research report on Tuesday, May 21st. Finally, Credit Suisse Group reduced their price target on Cisco Systems from $52.00 to $50.00 and set a neutral rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $56.59.
Shares of CSCO opened at $46.96 on Thursday. 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 business has a 50-day simple moving average of $55.20 and a two-hundred day simple moving average of $53.85. The stock has a market cap of $197.98 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 2.12 and a beta of 1.18. Cisco Systems has a 52 week low of $40.25 and a 52 week high of $58.26.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.98%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cisco Systems’s dividend payout ratio is currently 49.12%.
In related news, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the completion of the sale, the chief financial officer now owns 349,122 shares in the company, valued at $18,698,974.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven M. West sold 20,000 shares of the stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $56.21, for a total value of $1,124,200.00. Following the sale, the director now owns 5,263 shares of the company’s stock, valued at approximately $295,833.23. The disclosure for this sale can be found here. Insiders have sold 91,379 shares of company stock valued at $4,950,541 in the last quarter. 0.03% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Evolution Wealth Advisors LLC bought a new position in Cisco Systems during the second quarter valued at approximately $33,000. Lowe Wealth Advisors LLC bought a new position in Cisco Systems during the second quarter valued at approximately $38,000. Personal Wealth Partners bought a new position in Cisco Systems during the second quarter valued at approximately $44,000. Ashburton Jersey Ltd bought a new position in Cisco Systems during the second quarter valued at approximately $49,000. Finally, Cohen & Steers Inc. bought a new position in Cisco Systems during the fourth quarter valued at approximately $51,000. 73.73% of the stock is owned by institutional investors.
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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