Cisco Systems (NASDAQ:CSCO) had its price objective lifted by Barclays from $37.00 to $45.00 in a report published on Wednesday morning. Barclays currently has an overweight rating on the network equipment provider’s stock.
Other equities analysts have also recently issued research reports about the stock. Oppenheimer reaffirmed a buy rating and set a $36.00 price target on shares of Cisco Systems in a research report on Friday, October 20th. ValuEngine raised shares of Cisco Systems from a hold rating to a buy rating in a report on Tuesday, September 26th. Jefferies Group reissued a buy rating and issued a $37.00 target price on shares of Cisco Systems in a report on Friday, October 6th. Piper Jaffray Companies reissued a buy rating and issued a $36.00 target price on shares of Cisco Systems in a report on Thursday, October 12th. Finally, KeyCorp set a $33.00 target price on shares of Cisco Systems and gave the stock a buy rating in a report on Wednesday, October 11th. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems currently has an average rating of Buy and an average price target of $38.80.
Shares of Cisco Systems (NASDAQ:CSCO) traded down $0.01 during mid-day trading on Wednesday, hitting $41.29. 23,554,383 shares of the stock traded hands, compared to its average volume of 19,760,000. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. Cisco Systems has a twelve month low of $30.00 and a twelve month high of $41.52. The company has a market capitalization of $204,120.00, a PE ratio of 21.39, a price-to-earnings-growth ratio of 3.73 and a beta of 1.19.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a dividend of $0.29 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.81%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.10%.
In related news, Director Roderick C. Mcgeary sold 15,230 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the transaction, the director now owns 113,154 shares in the company, valued at $4,299,852. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the transaction, the insider now owns 712,736 shares in the company, valued at approximately $26,014,864. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 348,643 shares of company stock worth $12,892,271. Corporate insiders own 0.05% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after acquiring an additional 7,411,891 shares during the period. Ameriprise Financial Inc. grew its position in Cisco Systems by 23.6% in the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after buying an additional 11,972,070 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Cisco Systems by 6.5% in the third quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock worth $1,639,089,000 after buying an additional 2,987,682 shares during the last quarter. Nordea Investment Management AB grew its position in Cisco Systems by 8.3% in the third quarter. Nordea Investment Management AB now owns 34,013,570 shares of the network equipment provider’s stock worth $1,143,876,000 after buying an additional 2,617,310 shares during the last quarter. Finally, Boston Partners grew its position in Cisco Systems by 1.1% in the third quarter. Boston Partners now owns 30,401,385 shares of the network equipment provider’s stock worth $1,022,399,000 after buying an additional 329,474 shares during the last quarter. Institutional investors and hedge funds own 75.60% of the company’s stock.
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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