Cisco Systems (NASDAQ:CSCO) Upgraded to “Hold” by BidaskClub

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BidaskClub upgraded shares of Cisco Systems (NASDAQ:CSCO) from a sell rating to a hold rating in a research note issued to investors on Thursday morning, BidAskClub reports.

A number of other equities research analysts have also issued reports on CSCO. ValuEngine upgraded Cisco Systems from a sell rating to a hold rating in a research note on Tuesday, December 3rd. Needham & Company LLC reiterated a hold rating on shares of Cisco Systems in a research note on Thursday, November 14th. Credit Suisse Group reiterated a hold rating and issued a $46.00 target price on shares of Cisco Systems in a research note on Monday. UBS Group reiterated a buy rating and issued a $54.00 target price (down previously from $58.00) on shares of Cisco Systems in a research note on Thursday, November 14th. Finally, Zacks Investment Research upgraded Cisco Systems from a sell rating to a hold rating and set a $50.00 target price for the company in a research note on Wednesday, January 15th. Twelve research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Cisco Systems has an average rating of Buy and a consensus price target of $54.41.

Shares of CSCO stock traded down $0.35 during trading hours on Thursday, reaching $46.97. The company had a trading volume of 26,733,355 shares, compared to its average volume of 19,355,203. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.70. Cisco Systems has a twelve month low of $43.40 and a twelve month high of $58.26. The company has a market capitalization of $207.32 billion, a P/E ratio of 18.71, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22. The stock’s fifty day simple moving average is $47.95 and its 200 day simple moving average is $47.89.

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, beating analysts’ consensus estimates of $0.76 by $0.01. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $11.98 billion. During the same quarter last year, the firm earned $0.73 earnings per share. The company’s revenue for the quarter was down 3.6% compared to the same quarter last year. As a group, equities analysts expect that Cisco Systems will post 2.94 earnings per share for the current year.

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

In other Cisco Systems news, EVP Irving Tan sold 10,733 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $44.81, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mark D. Chandler sold 19,880 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $44.83, for a total value of $891,220.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 388,864 shares of company stock valued at $17,474,321. 0.03% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Permanens Capital L.P. acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $31,000. Emerald Advisers LLC acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $38,000. Sageworth Trust Co grew its position in shares of Cisco Systems by 59.5% in the 4th quarter. Sageworth Trust Co now owns 804 shares of the network equipment provider’s stock worth $39,000 after acquiring an additional 300 shares in the last quarter. Robecosam AG grew its position in shares of Cisco Systems by 4.0% in the 4th quarter. Robecosam AG now owns 357,920 shares of the network equipment provider’s stock worth $48,000 after acquiring an additional 13,621 shares in the last quarter. Finally, Cordasco Financial Network grew its position in shares of Cisco Systems by 78.4% in the 3rd quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock worth $56,000 after acquiring an additional 502 shares in the last quarter. Hedge funds and other institutional investors own 72.57% of the company’s stock.

About Cisco Systems

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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