CSCO has been the subject of a number of other research reports. Barclays lifted their price target on Cisco Systems from $37.00 to $45.00 and gave the company an overweight rating in a research note on Wednesday, January 17th. Deutsche Bank reiterated a buy rating and set a $45.00 price target (up previously from $40.00) on shares of Cisco Systems in a research note on Thursday, November 16th. Jefferies Group lifted their price target on Cisco Systems to $40.00 and gave the company a buy rating in a research note on Thursday, November 16th. Bank of America lifted their price target on Cisco Systems from $35.00 to $37.00 and gave the company a neutral rating in a research note on Thursday, November 16th. Finally, Nomura upgraded Cisco Systems from a neutral rating to a buy rating and set a $33.00 price target for the company in a research note on Monday, February 12th. Twelve investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $43.57.
Shares of Cisco Systems (NASDAQ:CSCO) opened at $44.33 on Thursday. The company has a market capitalization of $219,150.78, a PE ratio of 19.97, a P/E/G ratio of 3.29 and a beta of 1.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38. Cisco Systems has a 12-month low of $30.36 and a 12-month high of $45.13.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Wednesday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s payout ratio is -362.50%.
Cisco Systems announced that its board has approved a share repurchase program on Wednesday, February 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.
In other Cisco Systems news, SVP Rebecca Jacoby sold 75,021 shares of the business’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the sale, the senior vice president now owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Roderick C. Mcgeary sold 15,230 shares of the business’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the sale, the director now directly owns 113,154 shares in the company, valued at approximately $4,299,852. The disclosure for this sale can be found here. Insiders sold a total of 348,643 shares of company stock worth $12,892,271 in the last ninety days. 0.05% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Cisco Systems by 12.8% in the fourth quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock worth $4,709,302,000 after purchasing an additional 13,927,416 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Cisco Systems by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after purchasing an additional 11,972,070 shares during the period. Geode Capital Management LLC increased its holdings in shares of Cisco Systems by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 55,764,986 shares of the network equipment provider’s stock worth $2,131,581,000 after purchasing an additional 909,507 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Cisco Systems by 6.5% in the third quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock worth $1,639,089,000 after purchasing an additional 2,987,682 shares during the period. 75.06% of the stock is currently owned by institutional investors and hedge funds.
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About Cisco Systems
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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