BNP Paribas upgraded shares of Cisco Systems (NASDAQ:CSCO – Free Report) from a neutral rating to an outperform rating in a report released on Tuesday, MarketBeat Ratings reports. They currently have $72.00 price objective on the network equipment provider’s stock.
Several other equities analysts have also recently commented on the stock. Melius upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Tigress Financial increased their target price on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company boosted their price target on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $55.00 to $66.00 in a research report on Monday, November 11th. Finally, StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus target price of $62.72.
Cisco Systems Stock Performance
Cisco Systems (NASDAQ:CSCO – Get Free Report) 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 business had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.98 EPS. As a group, analysts expect that Cisco Systems will post 2.97 earnings per share for the current year.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.65%. Cisco Systems’s dividend payout ratio is 68.67%.
Insider Transactions at Cisco Systems
In related news, CFO Richard Scott Herren sold 86,351 shares of the firm’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 $4,964,318.99. Following the transaction, the chief financial officer now owns 365,314 shares in the company, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their ownership of the stock. The transaction 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 business’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 directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.
Institutional Investors Weigh In On Cisco Systems
Several institutional investors have recently modified their holdings of CSCO. State Street Corp boosted its position in shares of Cisco Systems by 1.7% in the 3rd quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Cisco Systems by 1.3% during the third quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after buying an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Cisco Systems by 2.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after buying an additional 1,677,383 shares during the period. FMR LLC increased its stake in shares of Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock valued at $3,402,432,000 after acquiring an additional 5,885,879 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Cisco Systems by 1.2% in the 4th quarter. Nordea Investment Management AB now owns 18,718,195 shares of the network equipment provider’s stock valued at $1,107,930,000 after acquiring an additional 216,632 shares during the period. Institutional investors and hedge funds 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.
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