Cisco Systems (NASDAQ:CSCO) Price Target Raised to $55.00 at Robert W. Baird

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Cisco Systems (NASDAQ:CSCO) had its price objective upped by Robert W. Baird from $52.00 to $55.00 in a research report sent to investors on Thursday morning, AnalystRatings.com reports. The brokerage currently has an outperform rating on the network equipment provider’s stock.

Several other research firms have also issued reports on CSCO. ValuEngine raised shares of Cisco Systems from a sell rating to a hold rating in a research note on Tuesday, December 3rd. Citigroup lowered shares of Cisco Systems from a buy rating to a neutral rating and lowered their target price for the stock from $56.00 to $52.00 in a research note on Wednesday, January 8th. Piper Jaffray Companies lowered shares of Cisco Systems from an overweight rating to a neutral rating and lowered their target price for the stock from $55.00 to $51.00 in a research note on Monday, November 11th. Edward Jones raised shares of Cisco Systems from a hold rating to a buy rating in a research note on Thursday, December 12th. Finally, Zacks Investment Research raised shares of Cisco Systems from a sell rating to a hold rating and set a $50.00 target price on the stock in a research note on Wednesday, January 15th. Twelve analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Cisco Systems currently has an average rating of Buy and a consensus price target of $54.41.

Shares of CSCO stock traded down $0.35 during mid-day trading on Thursday, hitting $46.97. 26,733,355 shares of the stock were exchanged, compared to its average volume of 19,355,203. The firm has a fifty day moving average of $47.95 and a 200 day moving average of $47.89. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 0.42. Cisco Systems has a 52-week low of $43.40 and a 52-week high of $58.26. The company has a market cap of $207.32 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.01. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $11.98 billion. During the same period in the prior year, the company posted $0.73 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. Equities analysts predict that Cisco Systems will post 2.94 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be paid a $0.36 dividend. The ex-dividend date is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a yield of 3.07%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.12%.

In other Cisco Systems news, EVP Irving Tan sold 10,733 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $44.81, for a total value of $480,945.73. Following the completion of the sale, the executive vice president now owns 172,199 shares in the company, valued at approximately $7,716,237.19. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 12,597 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $44.81, for a total transaction of $564,471.57. The disclosure for this sale can be found here. Insiders sold a total of 388,864 shares of company stock worth $17,474,321 over the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. First Command Financial Services Inc. lifted its stake in shares of Cisco Systems by 7.9% in the 3rd quarter. First Command Financial Services Inc. now owns 17,046 shares of the network equipment provider’s stock valued at $842,000 after purchasing an additional 1,242 shares during the period. DNB Asset Management AS lifted its stake in shares of Cisco Systems by 2.8% in the 3rd quarter. DNB Asset Management AS now owns 615,752 shares of the network equipment provider’s stock valued at $30,424,000 after purchasing an additional 16,759 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Cisco Systems by 5.3% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 515,876 shares of the network equipment provider’s stock valued at $25,489,000 after purchasing an additional 25,919 shares during the period. Harwood Advisory Group LLC lifted its stake in shares of Cisco Systems by 2.1% in the 3rd quarter. Harwood Advisory Group LLC now owns 55,635 shares of the network equipment provider’s stock valued at $2,749,000 after purchasing an additional 1,139 shares during the period. Finally, Jolley Asset Management LLC lifted its stake in shares of Cisco Systems by 0.3% in the 3rd quarter. Jolley Asset Management LLC now owns 98,155 shares of the network equipment provider’s stock valued at $4,850,000 after purchasing an additional 258 shares during the period. Institutional investors own 72.57% 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 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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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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