Cisco Systems (CSCO) Shares Gap Up on Analyst Upgrade

Cisco Systems, Inc. (NASDAQ:CSCO) gapped up prior to trading on Monday after Citigroup raised their price target on the stock from $40.00 to $46.00. The stock had previously closed at $38.55, but opened at $39.53. Citigroup currently has a buy rating on the stock. Cisco Systems shares last traded at $40.60, with a volume of 38095480 shares changing hands.

A number of other brokerages also recently weighed in on CSCO. Royal Bank of Canada reaffirmed a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a report on Wednesday, November 15th. BidaskClub raised Cisco Systems from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Vetr raised Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $44.13 target price on the stock in a report on Monday, February 5th. ValuEngine raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Cisco Systems in a report on Tuesday, November 14th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $40.38.

In other news, CAO Prat Bhatt sold 2,606 shares of Cisco Systems stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $95,092.94. Following the completion of the transaction, the chief accounting officer now directly owns 89,184 shares of the company’s stock, valued at approximately $3,254,324.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Karen Walker sold 5,786 shares of Cisco Systems stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $211,131.14. Following the completion of the transaction, the senior vice president now directly owns 176,418 shares of the company’s stock, valued at $6,437,492.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 348,643 shares of company stock valued at $12,892,271. Corporate insiders own 0.05% of the company’s stock.

Several hedge funds have recently bought and sold shares of CSCO. Hamlin Capital Management LLC increased its position in Cisco Systems by 19.6% in the 2nd quarter. Hamlin Capital Management LLC now owns 2,962,380 shares of the network equipment provider’s stock valued at $92,722,000 after buying an additional 485,902 shares in the last quarter. CIBC Asset Management Inc increased its position in Cisco Systems by 2.4% in the 2nd quarter. CIBC Asset Management Inc now owns 676,775 shares of the network equipment provider’s stock valued at $21,174,000 after buying an additional 15,882 shares in the last quarter. Palouse Capital Management Inc. increased its position in Cisco Systems by 1.5% in the 2nd quarter. Palouse Capital Management Inc. now owns 175,129 shares of the network equipment provider’s stock valued at $5,482,000 after buying an additional 2,583 shares in the last quarter. Heritage Wealth Advisors increased its position in Cisco Systems by 1.3% in the 2nd quarter. Heritage Wealth Advisors now owns 8,855 shares of the network equipment provider’s stock valued at $277,000 after buying an additional 110 shares in the last quarter. Finally, Nwam LLC increased its position in Cisco Systems by 26.6% in the 2nd quarter. Nwam LLC now owns 44,803 shares of the network equipment provider’s stock valued at $1,402,000 after buying an additional 9,423 shares in the last quarter. 75.42% of the stock is owned by hedge funds and other institutional investors.

The company has a market capitalization of $203,830.00, a PE ratio of 21.36, a P/E/G ratio of 3.55 and a beta of 1.23. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The business had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the company posted $0.61 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. research analysts anticipate that Cisco Systems, Inc. will post 2.23 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Investors of record on Friday, January 5th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Thursday, January 4th. Cisco Systems’s payout ratio is 60.10%.

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Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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