Royal Bank Of Canada Boosts Cisco Systems, Inc. (CSCO) Price Target to $40.00

Cisco Systems, Inc. (NASDAQ:CSCO) had its price target boosted by Royal Bank Of Canada to $40.00 in a report issued on Thursday morning, The Fly reports. Royal Bank Of Canada currently has an outperform rating on the network equipment provider’s stock.

Other equities research analysts also recently issued reports about the stock. Stifel Nicolaus set a $34.00 price target on shares of Cisco Systems and gave the company a hold rating in a research report on Tuesday, August 15th. JMP Securities reiterated a market perform rating on shares of Cisco Systems in a research report on Friday, August 18th. Deutsche Bank AG reiterated a buy rating and set a $40.00 price target on shares of Cisco Systems in a research report on Tuesday, August 8th. BidaskClub upgraded Cisco Systems from a sell rating to a hold rating in a research report on Wednesday, August 16th. Finally, Vetr downgraded Cisco Systems from a buy rating to a hold rating and set a $33.18 price objective for the company. in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $36.67.

Cisco Systems (CSCO) traded up $0.02 during mid-day trading on Thursday, hitting $35.90. 27,579,245 shares of the stock were exchanged, compared to its average volume of 20,121,138. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $36.67. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.98 and a current ratio of 2.87. The firm has a market cap of $177,768.98, a P/E ratio of 16.54, a price-to-earnings-growth ratio of 3.13 and a beta of 1.15.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 19.73% and a return on equity of 14.58%. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period last year, the firm earned $0.61 EPS. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. equities research analysts expect that Cisco Systems will post 2.16 earnings per share for the current year.

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The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were paid a $0.29 dividend. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.23%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.10%.

In other news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the sale, the insider now owns 729,305 shares in the company, valued at approximately $22,710,557.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the sale, the chief accounting officer now owns 119,996 shares in the company, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 485,138 shares of company stock worth $15,347,574. Company insiders own 0.05% of the company’s stock.

Several large investors have recently made changes to their positions in CSCO. Hamlin Capital Management LLC grew its position in shares of Cisco Systems by 9.5% during the 1st quarter. Hamlin Capital Management LLC now owns 2,476,478 shares of the network equipment provider’s stock valued at $83,705,000 after buying an additional 214,475 shares during the last quarter. Smith Chas P & Associates PA Cpas grew its position in shares of Cisco Systems by 2.3% during the 1st quarter. Smith Chas P & Associates PA Cpas now owns 600,236 shares of the network equipment provider’s stock valued at $20,288,000 after buying an additional 13,643 shares during the last quarter. Argyle Capital Management Inc. grew its position in shares of Cisco Systems by 0.6% during the 1st quarter. Argyle Capital Management Inc. now owns 85,520 shares of the network equipment provider’s stock valued at $2,891,000 after buying an additional 500 shares during the last quarter. Greenwich Wealth Management LLC grew its position in shares of Cisco Systems by 64.9% during the 1st quarter. Greenwich Wealth Management LLC now owns 450,584 shares of the network equipment provider’s stock valued at $15,230,000 after buying an additional 177,314 shares during the last quarter. Finally, Hudock Capital Group LLC grew its position in shares of Cisco Systems by 22.9% during the 1st quarter. Hudock Capital Group LLC now owns 45,940 shares of the network equipment provider’s stock valued at $1,552,000 after buying an additional 8,567 shares during the last quarter. 75.22% of the stock is owned by institutional investors and hedge funds.

About Cisco Systems

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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