Cisco Systems (NASDAQ:CSCO) Hits New 1-Year High After Analyst Upgrade

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) reached a new 52-week high on Tuesday after Tigress Financial raised their price target on the stock from $76.00 to $78.00. Tigress Financial currently has a buy rating on the stock. Cisco Systems traded as high as $54.61 and last traded at $54.42, with a volume of 4038221 shares trading hands. The stock had previously closed at $54.27.

Several other research analysts also recently commented on CSCO. Evercore ISI lifted their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a research report on Friday, September 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Cisco Systems from $52.00 to $53.00 and gave the company a "hold" rating in a report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a "strong-buy" rating in a report on Friday, August 16th. HSBC upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their target price for the company from $46.00 to $58.00 in a research note on Friday, August 16th. Finally, Jefferies Financial Group lowered their price target on Cisco Systems from $56.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $56.21.

Insiders Place Their Bets

In related news, SVP Maria Victoria Wong sold 638 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company's stock, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Charles Robbins sold 27,143 shares of the company's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 638 shares of the firm's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company's stock, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the second quarter worth $25,000. West Financial Advisors LLC boosted its holdings in Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after buying an additional 309 shares during the last quarter. Quarry LP grew its position in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after buying an additional 456 shares during the period. Retirement Group LLC increased its stake in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider's stock valued at $36,000 after acquiring an additional 263 shares during the last quarter. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter valued at approximately $36,000. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Stock Down 0.4 %

The firm has a market cap of $217.88 billion, a P/E ratio of 18.21, a price-to-earnings-growth ratio of 4.22 and a beta of 0.83. The firm's 50 day moving average is $50.51 and its two-hundred day moving average is $48.45. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to analysts' expectations of $13.53 billion. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business's quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $1.01 earnings per share. As a group, research analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems's dividend payout ratio (DPR) is presently 53.87%.

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.