Cisco Systems (NASDAQ:CSCO) Price Target Raised to $62.00

Cisco Systems (NASDAQ:CSCO - Free Report) had its price objective lifted by UBS Group from $55.00 to $62.00 in a research report report published on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the network equipment provider's stock.

CSCO has been the topic of a number of other research reports. Rosenblatt Securities increased their target price on Cisco Systems from $56.00 to $58.00 and gave the stock a "neutral" rating in a report on Thursday, August 15th. Tigress Financial boosted their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Morgan Stanley increased their price target on Cisco Systems from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Thursday. Citigroup upgraded shares of Cisco Systems from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $52.00 to $62.00 in a research report on Wednesday, October 16th. Finally, Evercore ISI raised their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the company an "outperform" rating in a research note on Friday, September 20th. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $59.42.

Cisco Systems Trading Down 2.1 %

NASDAQ CSCO traded down $1.26 during mid-day trading on Thursday, hitting $57.92. The company's stock had a trading volume of 33,738,058 shares, compared to its average volume of 19,104,037. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems has a 52-week low of $44.50 and a 52-week high of $59.38. The stock's fifty day simple moving average is $53.82 and its two-hundred day simple moving average is $49.64. The firm has a market capitalization of $231.14 billion, a P/E ratio of 22.86, a price-to-earnings-growth ratio of 4.86 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the firm earned $1.01 earnings per share. The company's revenue for the quarter was down 10.3% compared to the same quarter last year. Research analysts expect that Cisco Systems will post 2.89 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.76%. Cisco Systems's dividend payout ratio (DPR) is currently 62.99%.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares of the company's stock, valued at $2,258,974.53. The trade was a 1.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total value of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares in the company, valued at $8,181,307.80. The trade was a 4.31 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock valued at $3,509,049 over the last 90 days. 0.01% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cisco Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Cisco Systems by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider's stock valued at $36,847,000 after acquiring an additional 288,775 shares during the period. Citizens Financial Group Inc. RI lifted its stake in shares of Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider's stock valued at $12,573,000 after purchasing an additional 51,924 shares during the period. Commerzbank Aktiengesellschaft FI boosted its position in shares of Cisco Systems by 10.9% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider's stock worth $88,261,000 after purchasing an additional 162,544 shares during the last quarter. Quintet Private Bank Europe S.A. grew its holdings in Cisco Systems by 17.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider's stock valued at $33,830,000 after purchasing an additional 92,179 shares during the period. Finally, IRON Financial LLC acquired a new position in Cisco Systems in the third quarter valued at about $856,000. Institutional investors own 73.33% of the company's stock.

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.