Tigress Financial Reiterates Buy Rating for Cisco Systems (NASDAQ:CSCO)

Tigress Financial restated their buy rating on shares of Cisco Systems (NASDAQ:CSCO – Get Rating) in a report issued on Friday morning, Benzinga reports. They currently have a $73.00 price objective on the network equipment provider’s stock.

A number of other research firms have also weighed in on CSCO. Piper Sandler boosted their price objective on shares of Cisco Systems from $49.00 to $53.00 and gave the company a neutral rating in a research report on Thursday, February 16th. DZ Bank raised shares of Cisco Systems from a hold rating to a buy rating and set a $58.00 price objective for the company in a research report on Friday, February 17th. JPMorgan Chase & Co. increased their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the stock a neutral rating in a research report on Thursday, February 16th. Raymond James increased their price objective on shares of Cisco Systems from $59.00 to $63.00 and gave the stock an outperform rating in a research report on Thursday, February 16th. Finally, TheStreet raised shares of Cisco Systems from a c+ rating to a b- rating in a research report on Monday, November 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of Moderate Buy and an average price target of $56.38.

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded up $0.07 on Friday, reaching $50.19. 47,642,678 shares of the stock were exchanged, compared to its average volume of 18,465,760. The firm has a market capitalization of $205.57 billion, a PE ratio of 18.38, a PEG ratio of 2.26 and a beta of 1.00. Cisco Systems has a 1-year low of $38.60 and a 1-year high of $56.94. The business has a fifty day moving average price of $48.59 and a two-hundred day moving average price of $46.32. The company has a current ratio of 1.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.18.

Cisco Systems (NASDAQ:CSCO – Get Rating) last released its quarterly earnings data on Wednesday, February 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. The firm had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $13.41 billion. Cisco Systems had a net margin of 21.26% and a return on equity of 31.19%. The firm’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.77 earnings per share. As a group, research analysts anticipate that Cisco Systems will post 3.34 earnings per share for the current fiscal year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Wednesday, April 5th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 3.11%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.38. The ex-dividend date is Tuesday, April 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 55.68%.

Insiders Place Their Bets

In related news, SVP Prat Bhatt sold 608 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total transaction of $29,633.92. Following the completion of the sale, the senior vice president now directly owns 50,162 shares in the company, valued at $2,444,895.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Deborah L. Stahlkopf sold 23,701 shares of the firm’s stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $50.90, for a total transaction of $1,206,380.90. Following the transaction, the executive vice president now owns 184,853 shares of the company’s stock, valued at $9,409,017.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Prat Bhatt sold 608 shares of the firm’s stock in a transaction that occurred on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total transaction of $29,633.92. Following the transaction, the senior vice president now directly owns 50,162 shares in the company, valued at approximately $2,444,895.88. The disclosure for this sale can be found here. Insiders sold a total of 47,568 shares of company stock worth $2,376,624 over the last ninety days. 0.02% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Cisco Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. United Bank bought a new position in shares of Cisco Systems in the first quarter valued at approximately $645,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cisco Systems by 32.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock valued at $236,593,000 after purchasing an additional 1,040,607 shares during the period. Roundview Capital LLC raised its position in shares of Cisco Systems by 13.1% in the first quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock valued at $588,000 after purchasing an additional 1,221 shares during the period. Merit Financial Group LLC raised its position in shares of Cisco Systems by 21.5% in the first quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after purchasing an additional 2,079 shares during the period. Finally, Mackenzie Financial Corp raised its position in shares of Cisco Systems by 8.1% in the first quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after purchasing an additional 182,857 shares during the period. Institutional investors own 71.10% of the company’s stock.

Cisco Systems Company Profile

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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.