Cisco Systems (CSCO) Sets New 52-Week High After Analyst Upgrade

Cisco Systems, Inc. (NASDAQ:CSCO) hit a new 52-week high during mid-day trading on Wednesday after Barclays raised their price target on the stock from $37.00 to $45.00. Barclays currently has an overweight rating on the stock. Cisco Systems traded as high as $41.25 and last traded at $41.29, with a volume of 17510000 shares. The stock had previously closed at $40.54.

CSCO has been the topic of a number of other research reports. Jefferies Group upped their price objective on Cisco Systems to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 16th. Deutsche Bank reissued a “buy” rating and set a $45.00 target price (up from $40.00) on shares of Cisco Systems in a report on Thursday, November 16th. Bank of America boosted their target price on Cisco Systems from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, November 16th. Stifel Nicolaus reissued a “hold” rating and set a $40.00 target price on shares of Cisco Systems in a report on Thursday, December 14th. Finally, UBS Group reissued a “buy” rating and set a $39.00 target price on shares of Cisco Systems in a report on Thursday, November 16th. Twelve equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Cisco Systems has an average rating of “Buy” and an average target price of $38.47.

In other Cisco Systems news, CAO Prat Bhatt sold 2,606 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $95,092.94. Following the transaction, the chief accounting officer now directly owns 89,184 shares of the company’s stock, valued at approximately $3,254,324.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the sale, the senior vice president now directly owns 257,476 shares in the company, valued at $9,892,227.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 348,643 shares of company stock worth $12,892,271. Insiders own 0.05% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in CSCO. Beacon Financial Group lifted its position in shares of Cisco Systems by 2.9% during the 2nd quarter. Beacon Financial Group now owns 24,880 shares of the network equipment provider’s stock worth $781,000 after buying an additional 700 shares during the last quarter. First Command Bank lifted its position in shares of Cisco Systems by 113.0% during the 2nd quarter. First Command Bank now owns 23,828 shares of the network equipment provider’s stock worth $747,000 after buying an additional 12,641 shares during the last quarter. Fox Run Management L.L.C. lifted its position in shares of Cisco Systems by 22.3% during the 2nd quarter. Fox Run Management L.L.C. now owns 15,900 shares of the network equipment provider’s stock worth $498,000 after buying an additional 2,900 shares during the last quarter. Stock Yards Bank & Trust Co. lifted its position in shares of Cisco Systems by 5.7% during the 2nd quarter. Stock Yards Bank & Trust Co. now owns 62,094 shares of the network equipment provider’s stock worth $1,943,000 after buying an additional 3,361 shares during the last quarter. Finally, Guinness Asset Management Ltd lifted its position in shares of Cisco Systems by 25.5% during the 2nd quarter. Guinness Asset Management Ltd now owns 474,871 shares of the network equipment provider’s stock worth $14,864,000 after buying an additional 96,500 shares during the last quarter. 75.60% of the stock is currently owned by institutional investors.

The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. The firm has a market cap of $204,120.00, a PE ratio of 21.38, a price-to-earnings-growth ratio of 3.70 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The business had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the company earned $0.61 EPS. Cisco Systems’s revenue for the quarter was down 1.7% on a year-over-year basis. sell-side analysts predict that Cisco Systems, Inc. will post 2.21 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.16 annualized dividend and a dividend yield of 2.81%. Cisco Systems’s dividend payout ratio is currently 60.10%.

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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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