Cisco Systems (NASDAQ:CSCO) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Cisco Systems (NASDAQ:CSCO) from a hold rating to a buy rating in a research report released on Monday morning.

Several other analysts have also recently issued reports on the company. Citigroup raised Cisco Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $52.00 to $62.00 in a report on Wednesday, October 16th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Rosenblatt Securities lifted their price objective on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Finally, HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.74.

Cisco Systems Stock Performance

CSCO opened at $55.59 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. The stock has a market capitalization of $221.84 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 4.22 and a beta of 0.83. The company has a fifty day moving average of $52.44 and a 200 day moving average of $49.00. Cisco Systems has a fifty-two week low of $44.50 and a fifty-two week high of $57.06.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the business posted $1.01 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Cisco Systems will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. Cisco Systems’s payout ratio is presently 62.99%.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock valued at $3,509,049 over the last ninety days. 0.01% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cisco Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter worth $25,000. Quarry LP boosted its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC grew its stake in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 309 shares during the last quarter. Retirement Group LLC increased its holdings in shares of Cisco Systems by 56.8% during the first quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock valued at $36,000 after acquiring an additional 263 shares in the last quarter. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Cisco Systems in the 2nd quarter valued at approximately $36,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

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.