Wunderlich Raises Cisco Systems, Inc. (CSCO) Price Target to $33.00
Cisco Systems, Inc. (NASDAQ:CSCO) had its price target lifted by equities researchers at Wunderlich from $30.00 to $33.00 in a note issued to investors on Friday. The brokerage currently has a “hold” rating on the network equipment provider’s stock. Wunderlich’s price objective would suggest a potential upside of 5.33% from the company’s current price.
A number of other equities analysts have also recently issued reports on CSCO. Vetr upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $33.20 price objective for the company in a report on Thursday, March 9th. Jefferies Group LLC reissued a “buy” rating on shares of Cisco Systems in a research note on Tuesday, March 21st. Deutsche Bank AG boosted their target price on Cisco Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 23rd. Berenberg Bank assumed coverage on Cisco Systems in a research note on Tuesday, April 4th. They issued a “hold” rating and a $35.00 target price for the company. Finally, Cowen and Company reissued an “outperform” rating and issued a $39.00 target price on shares of Cisco Systems in a research note on Thursday, April 6th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $35.32.
Cisco Systems (NASDAQ CSCO) traded up 0.10% during trading on Friday, reaching $31.33. The company’s stock had a trading volume of 14,112,089 shares. Cisco Systems has a 52-week low of $28.17 and a 52-week high of $34.60. The stock has a 50-day moving average price of $31.99 and a 200 day moving average price of $32.31. The company has a market cap of $156.65 billion, a PE ratio of 15.90 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. During the same period in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts expect that Cisco Systems will post $2.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.70%. Cisco Systems’s payout ratio is 58.29%.
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In other news, SVP Karen Walker sold 7,802 shares of the stock in a transaction on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the transaction, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the transaction, the senior vice president now directly owns 271,725 shares in the company, valued at $8,616,399.75. The disclosure for this sale can be found here. Insiders have sold a total of 396,179 shares of company stock worth $12,503,407 over the last three months. Insiders own 0.11% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Park National Corp OH boosted its position in Cisco Systems by 1.6% in the second quarter. Park National Corp OH now owns 925,992 shares of the network equipment provider’s stock valued at $28,984,000 after buying an additional 14,537 shares during the last quarter. Parsons Capital Management Inc. RI boosted its position in Cisco Systems by 4.5% in the first quarter. Parsons Capital Management Inc. RI now owns 117,524 shares of the network equipment provider’s stock valued at $3,972,000 after buying an additional 5,110 shares during the last quarter. Atlantic Trust LLC boosted its position in Cisco Systems by 5.2% in the first quarter. Atlantic Trust LLC now owns 99,980 shares of the network equipment provider’s stock valued at $3,379,000 after buying an additional 4,904 shares during the last quarter. Laurel Wealth Advisors Inc. boosted its position in Cisco Systems by 6.3% in the first quarter. Laurel Wealth Advisors Inc. now owns 88,847 shares of the network equipment provider’s stock valued at $3,002,000 after buying an additional 5,303 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its position in Cisco Systems by 9.4% in the first quarter. Perigon Wealth Management LLC now owns 173,311 shares of the network equipment provider’s stock valued at $5,858,000 after buying an additional 14,920 shares during the last quarter. 75.37% of the stock is currently owned by hedge funds and other institutional investors.
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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