Cisco Systems (NASDAQ:CSCO) Price Target Raised to $68.00 at Morgan Stanley

Cisco Systems (NASDAQ:CSCO - Get Free Report) had its price objective upped by research analysts at Morgan Stanley from $62.00 to $68.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the network equipment provider's stock. Morgan Stanley's target price would suggest a potential upside of 16.20% from the company's previous close.

Other equities analysts have also issued reports about the company. UBS Group boosted their price objective on Cisco Systems from $55.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, November 14th. Barclays increased their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Piper Sandler raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. Citigroup upped their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company lifted their price target on Cisco Systems from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and a consensus target price of $60.28.

Cisco Systems Trading Up 0.3 %

Shares of NASDAQ:CSCO traded up $0.17 during mid-day trading on Tuesday, reaching $58.52. The stock had a trading volume of 24,905,014 shares, compared to its average volume of 19,130,174. The firm has a 50 day simple moving average of $57.36 and a two-hundred day simple moving average of $51.57. Cisco Systems has a twelve month low of $44.50 and a twelve month high of $60.23. The firm has a market cap of $233.07 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. On average, research analysts predict that Cisco Systems will post 2.97 EPS for the current fiscal year.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total transaction of $180,055.98. Following the sale, the executive vice president now directly owns 207,798 shares of the company's stock, valued at approximately $12,299,563.62. The trade was a 1.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares of the company's stock, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 over the last three months. 0.01% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Aviso Wealth Management grew its holdings in Cisco Systems by 2.4% in the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock worth $405,000 after purchasing an additional 181 shares during the last quarter. Waypoint Capital Advisors LLC grew its stake in Cisco Systems by 2.9% during the 3rd quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock worth $346,000 after buying an additional 182 shares during the last quarter. Andina Capital Management LLC increased its position in Cisco Systems by 3.6% during the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider's stock valued at $279,000 after buying an additional 182 shares in the last quarter. Wealth Dimensions Group Ltd. raised its stake in Cisco Systems by 1.6% in the third quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider's stock valued at $605,000 after buying an additional 182 shares during the last quarter. Finally, Meridian Financial Partners LLC boosted its holdings in Cisco Systems by 3.8% in the third quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider's stock worth $267,000 after acquiring an additional 185 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Company Profile

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.