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.
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%.
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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