Cisco Systems (CSCO) Given New $46.00 Price Target at Instinet

Cisco Systems (NASDAQ:CSCO) had its target price increased by Instinet from $39.53 to $46.00 in a report published on Monday. Instinet currently has a buy rating on the network equipment provider’s stock.

A number of other brokerages have also commented on CSCO. Loop Capital began coverage on Cisco Systems in a research report on Monday, January 29th. They set a hold rating and a $45.00 price objective for the company. Vetr upgraded Cisco Systems from a hold rating to a buy rating and set a $44.13 price objective for the company in a research report on Tuesday, January 30th. Zacks Investment Research upgraded Cisco Systems from a hold rating to a buy rating and set a $48.00 price objective for the company in a research report on Wednesday, January 31st. ValuEngine upgraded Cisco Systems from a hold rating to a buy rating in a research report on Friday, February 2nd. Finally, KeyCorp restated an overweight rating and set a $43.00 price objective (up from $39.00) on shares of Cisco Systems in a research report on Friday, January 19th. Eleven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Cisco Systems has a consensus rating of Buy and an average price target of $40.47.

Cisco Systems (CSCO) opened at $42.09 on Monday. The firm has a market capitalization of $208,080.00, a PE ratio of 21.81, a P/E/G ratio of 3.65 and a beta of 1.23. Cisco Systems has a 12 month low of $30.36 and a 12 month high of $42.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. During the same quarter last year, the firm posted $0.57 earnings per share. analysts expect that Cisco Systems will post 2.23 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be issued a $0.33 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a yield of 3.14%. Cisco Systems’s payout ratio is 60.10%.

In related news, CAO Prat Bhatt sold 2,606 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 89,184 shares in the company, valued at approximately $3,254,324.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 348,643 shares of company stock valued at $12,892,271. Corporate insiders own 0.05% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CSCO. Richard Bernstein Advisors LLC increased its position in Cisco Systems by 21.2% in the 2nd quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after buying an additional 47,211 shares during the period. Stratos Wealth Partners LTD. increased its position in Cisco Systems by 10.4% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after buying an additional 14,395 shares during the period. Eads & Heald Investment Counsel increased its position in Cisco Systems by 15.7% in the 2nd quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock worth $1,329,000 after buying an additional 5,765 shares during the period. Pzena Investment Management LLC increased its position in Cisco Systems by 0.4% in the 3rd quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after buying an additional 10,265 shares during the period. Finally, Aviva PLC increased its position in Cisco Systems by 6.5% in the 2nd quarter. Aviva PLC now owns 4,769,809 shares of the network equipment provider’s stock worth $149,343,000 after buying an additional 289,899 shares during the period. Hedge funds and other institutional investors own 75.42% of the company’s stock.

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Cisco Systems Company Profile

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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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