Cisco Systems (NASDAQ:CSCO) PT Lowered to $53.00

Cisco Systems (NASDAQ:CSCO) had its price objective decreased by Royal Bank of Canada from $64.00 to $53.00 in a research report sent to investors on Thursday morning, Borsen Zeitung reports. Royal Bank of Canada currently has an outperform rating on the network equipment provider’s stock.

A number of other research firms also recently issued reports on CSCO. Oppenheimer increased their price objective on shares of Cisco Systems from $52.00 to $60.00 and gave the company an outperform rating in a research note on Friday, April 26th. Jefferies Financial Group increased their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the company a buy rating in a research note on Thursday, May 16th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $62.00 price objective on shares of Cisco Systems and gave the company a buy rating in a research note on Monday, August 12th. Piper Jaffray Companies increased their price objective on shares of Cisco Systems from $52.00 to $58.00 and gave the company an overweight rating in a research note on Thursday, May 16th. Finally, BidaskClub downgraded shares of Cisco Systems from a hold rating to a sell rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $56.59.

Shares of NASDAQ:CSCO opened at $46.96 on Thursday. The firm has a market cap of $197.98 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. The firm’s 50 day simple moving average is $55.20 and its 200-day simple moving average is $53.85. Cisco Systems has a one year low of $40.25 and a one year high of $58.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.51.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. The business had revenue of $13.43 billion for the quarter, compared to analyst estimates of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period last year, the company posted $0.70 earnings per share. Equities research analysts predict that Cisco Systems will post 3.11 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a $0.35 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a yield of 2.98%. Cisco Systems’s dividend payout ratio (DPR) is 49.12%.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $53.56, for a total value of $3,749,200.00. Following the completion of the sale, the chief financial officer now directly owns 349,122 shares in the company, valued at $18,698,974.32. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wesley G. Bush bought 10,000 shares of the stock in a transaction on Friday, June 7th. The stock was purchased at an average price of $55.74 per share, with a total value of $557,400.00. Following the completion of the purchase, the director now owns 3,017 shares of the company’s stock, valued at $168,167.58. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 91,379 shares of company stock valued at $4,950,541. 0.03% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of CSCO. Nuveen Asset Management LLC raised its holdings in shares of Cisco Systems by 1,546.1% in the second quarter. Nuveen Asset Management LLC now owns 48,285,218 shares of the network equipment provider’s stock worth $2,642,650,000 after buying an additional 45,351,980 shares during the last quarter. Fisher Asset Management LLC raised its holdings in shares of Cisco Systems by 36.0% in the fourth quarter. Fisher Asset Management LLC now owns 27,338,574 shares of the network equipment provider’s stock worth $1,184,580,000 after buying an additional 7,238,755 shares during the last quarter. Thoroughbred Financial Services LLC raised its holdings in shares of Cisco Systems by 5,677.4% in the second quarter. Thoroughbred Financial Services LLC now owns 3,616,279 shares of the network equipment provider’s stock worth $361,628,000 after buying an additional 3,553,686 shares during the last quarter. APG Asset Management N.V. raised its holdings in shares of Cisco Systems by 28.5% in the fourth quarter. APG Asset Management N.V. now owns 11,136,836 shares of the network equipment provider’s stock worth $422,131,000 after buying an additional 2,472,300 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of Cisco Systems in the second quarter worth $125,277,000. 73.73% of the stock is owned by institutional investors and hedge funds.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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