Vetr upgraded shares of Cisco Systems (NASDAQ:CSCO) from a hold rating to a buy rating in a research report sent to investors on Thursday. Vetr currently has $45.11 price target on the network equipment provider’s stock.
A number of other brokerages have also recently issued reports on CSCO. Argus reaffirmed a buy rating and issued a $50.00 target price (up from $44.00) on shares of Cisco Systems in a report on Friday, February 16th. MKM Partners increased their target price on shares of Cisco Systems to $48.00 and gave the company a neutral rating in a report on Friday, February 16th. Oppenheimer reaffirmed an outperform rating and issued a $50.00 target price (up from $46.00) on shares of Cisco Systems in a report on Friday, February 16th. Zacks Investment Research raised shares of Cisco Systems from a hold rating to a buy rating and set a $50.00 target price for the company in a report on Wednesday, February 21st. Finally, Loop Capital assumed coverage on shares of Cisco Systems in a report on Monday, January 29th. They issued a hold rating and a $45.00 target price for the company. Ten analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $43.66.
Cisco Systems (NASDAQ CSCO) opened at $44.00 on Thursday. Cisco Systems has a 1-year low of $30.36 and a 1-year high of $45.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38. The stock has a market cap of $217,520.00, a PE ratio of -137.50, a price-to-earnings-growth ratio of 2.96 and a beta of 1.23.
Cisco Systems announced that its Board of Directors has initiated a share buyback program on Wednesday, February 14th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 4th. This represents a $1.32 dividend on an annualized basis and a yield of 3.00%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio (DPR) is -362.50%.
In other Cisco Systems news, Director Arun Sarin sold 14,189 shares of Cisco Systems stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total value of $625,734.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Roderick C. Mcgeary sold 15,230 shares of Cisco Systems stock in a transaction 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 completion of the transaction, the director now owns 113,154 shares in the company, valued at approximately $4,299,852. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,440 shares of company stock worth $4,086,782. 0.05% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Stonehearth Capital Management LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at $102,000. Tortoise Investment Management LLC raised its stake in shares of Cisco Systems by 36.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after acquiring an additional 878 shares during the period. Mountain Capital Investment Advisors Inc purchased a new position in shares of Cisco Systems in the 2nd quarter valued at $104,000. Keeler Thomas Management LLC purchased a new position in shares of Cisco Systems in the 4th quarter valued at $108,000. Finally, Manchester Capital Management LLC raised its stake in shares of Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 350 shares during the period. Institutional investors own 75.06% 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).
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