Cisco Systems (NASDAQ:CSCO) Price Target Raised to $50.00 at The Goldman Sachs Group

Cisco Systems (NASDAQ:CSCOGet Rating) had its price target hoisted by The Goldman Sachs Group from $45.00 to $50.00 in a report released on Thursday, Marketbeat.com reports. The brokerage currently has a neutral rating on the network equipment provider’s stock.

Several other equities research analysts also recently issued reports on CSCO. Rosenblatt Securities raised their price target on Cisco Systems from $48.00 to $53.00 and gave the company a neutral rating in a report on Thursday. KGI Securities downgraded Cisco Systems from an outperform rating to a neutral rating in a report on Friday, July 15th. Citigroup raised their price target on Cisco Systems from $40.00 to $44.00 and gave the company a sell rating in a report on Thursday. TheStreet cut Cisco Systems from a b rating to a c+ rating in a research report on Wednesday, June 15th. Finally, Morgan Stanley lowered their price objective on Cisco Systems from $59.00 to $46.00 and set an equal weight rating on the stock in a research report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems currently has a consensus rating of Hold and a consensus price target of $55.59.

Cisco Systems Trading Up 5.8 %

NASDAQ CSCO opened at $49.37 on Thursday. The company has a market cap of $204.44 billion, a PE ratio of 17.51, a PEG ratio of 2.30 and a beta of 0.97. The company has a current ratio of 1.49, a quick ratio of 1.40 and a debt-to-equity ratio of 0.21. Cisco Systems has a 12 month low of $40.82 and a 12 month high of $64.29. The stock has a 50 day moving average of $44.18 and a 200-day moving average of $49.34.

Cisco Systems (NASDAQ:CSCOGet Rating) last released its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 30.91% and a net margin of 22.91%. The company had revenue of $13.10 billion during the quarter, compared to the consensus estimate of $12.78 billion. During the same quarter in the prior year, the firm posted $0.76 EPS. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts anticipate that Cisco Systems will post 3.12 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Investors of record on Wednesday, July 6th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.08%. The ex-dividend date was Tuesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 53.90%.

Insider Activity at Cisco Systems

In related news, CEO Charles Robbins sold 12,717 shares of the firm’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $43.79, for a total value of $556,877.43. Following the sale, the chief executive officer now directly owns 651,577 shares of the company’s stock, valued at $28,532,556.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Maria Martinez sold 3,628 shares of Cisco Systems stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $43.34, for a total transaction of $157,237.52. Following the sale, the chief operating officer now directly owns 295,305 shares of the company’s stock, valued at $12,798,518.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 12,717 shares of Cisco Systems stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $43.79, for a total value of $556,877.43. Following the sale, the chief executive officer now directly owns 651,577 shares in the company, valued at $28,532,556.83. The disclosure for this sale can be found here. Insiders have sold 25,326 shares of company stock valued at $1,103,159 over the last ninety days. 0.02% of the stock is owned by corporate insiders.

Institutional Trading of Cisco Systems

A number of hedge funds have recently made changes to their positions in CSCO. Vanguard Group Inc. lifted its stake in shares of Cisco Systems by 8.9% in the first quarter. Vanguard Group Inc. now owns 368,876,953 shares of the network equipment provider’s stock worth $20,568,578,000 after acquiring an additional 30,181,146 shares during the period. BlackRock Inc. lifted its stake in shares of Cisco Systems by 0.3% in the first quarter. BlackRock Inc. now owns 351,582,807 shares of the network equipment provider’s stock worth $19,604,258,000 after acquiring an additional 1,178,419 shares during the period. State Street Corp lifted its stake in shares of Cisco Systems by 2.2% in the first quarter. State Street Corp now owns 190,142,222 shares of the network equipment provider’s stock worth $10,602,330,000 after acquiring an additional 4,017,068 shares during the period. Geode Capital Management LLC lifted its stake in shares of Cisco Systems by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock worth $4,623,101,000 after acquiring an additional 1,380,066 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Cisco Systems by 0.3% in the fourth quarter. Northern Trust Corp now owns 55,173,669 shares of the network equipment provider’s stock worth $3,496,355,000 after acquiring an additional 183,779 shares during the period. 73.18% of the stock is owned by institutional investors and hedge funds.

About Cisco Systems

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Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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