Cisco Systems (NASDAQ:CSCO) PT Raised to $53.00 at Deutsche Bank Aktiengesellschaft

Cisco Systems (NASDAQ:CSCO) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $52.00 to $53.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has a hold rating on the network equipment provider’s stock.

Other analysts also recently issued reports about the company. Barclays reduced their price objective on Cisco Systems from $50.00 to $49.00 and set an equal weight rating on the stock in a research report on Thursday. Rosenblatt Securities upped their target price on Cisco Systems from $56.00 to $58.00 and gave the company a neutral rating in a research note on Thursday. Piper Sandler reiterated a neutral rating and issued a $52.00 target price on shares of Cisco Systems in a research note on Wednesday, June 5th. StockNews.com lowered Cisco Systems from a buy rating to a hold rating in a research note on Thursday, May 23rd. Finally, BNP Paribas upgraded Cisco Systems from an underperform rating to a neutral rating and set a $50.00 target price for the company in a research note on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $55.89.

Cisco Systems Stock Up 1.9 %

Shares of NASDAQ:CSCO opened at $49.46 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems has a 52-week low of $44.50 and a 52-week high of $58.19. The stock’s fifty day simple moving average is $46.74 and its 200-day simple moving average is $47.86. The company has a market capitalization of $199.27 billion, a P/E ratio of 16.65, a P/E/G ratio of 2.97 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the business earned $1.01 earnings per share. The business’s revenue was down 10.3% on a year-over-year basis. As a group, equities research analysts forecast that Cisco Systems will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 3.23%. Cisco Systems’s payout ratio is currently 53.87%.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total transaction of $155,016.42. Following the sale, the senior vice president now directly owns 52,953 shares in the company, valued at approximately $2,430,013.17. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the completion of the sale, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total value of $155,016.42. Following the sale, the senior vice president now owns 52,953 shares of the company’s stock, valued at approximately $2,430,013.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,090 shares of company stock worth $1,522,231. 0.02% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Cisco Systems

Hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC acquired a new position in shares of Cisco Systems in the 2nd quarter worth approximately $25,000. Quarry LP grew its position in shares of Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after acquiring an additional 456 shares in the last quarter. Delos Wealth Advisors LLC grew its position in shares of Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after acquiring an additional 600 shares in the last quarter. DiNuzzo Private Wealth Inc. acquired a new position in shares of Cisco Systems in the 4th quarter worth approximately $33,000. Finally, Retirement Group LLC grew its position in shares of Cisco Systems by 56.8% in the 1st quarter. Retirement Group LLC now owns 726 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 263 shares in the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.