Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report)'s stock price traded up 0.8% on Friday after StockNews.com upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $64.35 and last traded at $64.37. 6,170,143 shares traded hands during trading, a decline of 68% from the average session volume of 19,434,926 shares. The stock had previously closed at $63.84.
A number of other research analysts have also recently issued reports on the stock. Melius upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their price objective for the company from $66.00 to $73.00 in a report on Monday, January 6th. Rosenblatt Securities raised Cisco Systems from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $66.00 to $80.00 in a research note on Thursday. UBS Group raised their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on Cisco Systems from $69.00 to $73.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Barclays lifted their price target on shares of Cisco Systems from $56.00 to $61.00 and gave the stock an "equal weight" rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating, thirteen have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and a consensus target price of $66.53.
Check Out Our Latest Report on Cisco Systems
Insider Buying and Selling
In other Cisco Systems news, SVP Maria Victoria Wong sold 4,881 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $59.73, for a total transaction of $291,542.13. Following the sale, the senior vice president now directly owns 51,931 shares of the company's stock, valued at approximately $3,101,838.63. The trade was a 8.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 3,042 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $59.19, for a total value of $180,055.98. Following the completion of the transaction, the executive vice president now directly owns 207,798 shares of the company's stock, valued at $12,299,563.62. This represents a 1.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,239 shares of company stock worth $2,166,612 in the last ninety days. 0.01% of the stock is owned by insiders.
Institutional Inflows and Outflows
A number of large investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its holdings in shares of Cisco Systems by 57.7% during the third quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider's stock valued at $273,000 after acquiring an additional 1,876 shares in the last quarter. Creative Planning increased its stake in Cisco Systems by 3.4% during the 3rd quarter. Creative Planning now owns 1,155,964 shares of the network equipment provider's stock valued at $60,979,000 after purchasing an additional 38,000 shares in the last quarter. Swedbank AB raised its holdings in Cisco Systems by 0.6% in the third quarter. Swedbank AB now owns 9,029,594 shares of the network equipment provider's stock worth $480,555,000 after buying an additional 52,711 shares during the last quarter. Secure Asset Management LLC purchased a new stake in shares of Cisco Systems during the third quarter valued at approximately $226,000. Finally, Stratos Wealth Partners LTD. increased its position in shares of Cisco Systems by 17.3% during the third quarter. Stratos Wealth Partners LTD. now owns 142,182 shares of the network equipment provider's stock valued at $7,567,000 after acquiring an additional 20,968 shares in the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Stock Performance
The business's fifty day moving average is $60.07 and its two-hundred day moving average is $55.64. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $258.36 billion, a PE ratio of 27.84, a price-to-earnings-growth ratio of 4.63 and a beta of 0.84.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. Equities research analysts predict that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.
Cisco Systems Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.53%. This is a positive change from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio is presently 68.67%.
Cisco Systems declared that its board has initiated a share repurchase program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.
About Cisco Systems
(
Get Free Report)
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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