Brokerages Set Cisco Systems, Inc. (NASDAQ:CSCO) Price Target at $60.28

Cisco Systems, Inc. (NASDAQ:CSCO) has received an average rating of “Moderate Buy” from the twenty-one research firms that are covering the stock, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $60.28.

A number of brokerages recently commented on CSCO. Morgan Stanley lifted their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 17th. Piper Sandler lifted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Wells Fargo & Company increased their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Barclays lifted their target price on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Finally, Citigroup increased their price target on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th.

Insider Activity at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 3,042 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now owns 207,798 shares in the company, valued at $12,299,563.62. This trade represents a 1.44 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is owned by insiders.

Institutional Investors Weigh In On Cisco Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Summit Securities Group LLC acquired a new stake in Cisco Systems in the 2nd quarter valued at about $25,000. West Financial Advisors LLC raised its stake in Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 309 shares during the period. Quarry LP lifted its position in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC bought a new position in shares of Cisco Systems during the 3rd quarter worth approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Cisco Systems during the 3rd quarter worth approximately $51,000. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.6 %

Shares of NASDAQ:CSCO opened at $59.61 on Monday. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The firm has a market cap of $237.41 billion, a P/E ratio of 25.58, a P/E/G ratio of 4.37 and a beta of 0.85. Cisco Systems has a 12 month low of $44.50 and a 12 month high of $60.23. The company’s 50-day moving average price is $58.02 and its two-hundred day moving average price is $52.20.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Cisco Systems’s revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 EPS. As a group, research analysts forecast that Cisco Systems will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.68%. Cisco Systems’s dividend payout ratio is currently 68.67%.

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.