Barclays Issues Positive Forecast for Cisco Systems (NASDAQ:CSCO) Stock Price

Cisco Systems (NASDAQ:CSCO) had its price target upped by Barclays from $49.00 to $56.00 in a research report released on Thursday,Benzinga reports. Barclays currently has an equal weight rating on the network equipment provider’s stock.

CSCO has been the topic of a number of other research reports. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Rosenblatt Securities raised their price target on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Piper Sandler raised their price target on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday. Morgan Stanley raised their price target on Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average target price of $59.94.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $57.46 on Thursday. The firm has a market capitalization of $229.31 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 4.76 and a beta of 0.83. Cisco Systems has a 52-week low of $44.50 and a 52-week high of $59.38. The stock has a fifty day moving average of $54.18 and a 200 day moving average of $49.80. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.88.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.04. The company had revenue of $13.84 billion during the quarter, compared to analyst estimates of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. On average, research analysts expect that Cisco Systems will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.78%. Cisco Systems’s payout ratio is 68.67%.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total value of $416,229.10. Following the sale, the executive vice president now directly owns 135,544 shares of the company’s stock, valued at $6,821,929.52. The trade was a 5.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $50.00, for a total value of $1,115,450.00. Following the completion of the sale, the chief financial officer now directly owns 293,184 shares in the company, valued at approximately $14,659,200. This represents a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,924 shares of company stock valued at $1,798,131. 0.01% of the stock is currently owned by corporate insiders.

Institutional Trading of Cisco Systems

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in shares of Cisco Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock worth $5,075,320,000 after purchasing an additional 1,262,017 shares in the last quarter. Valued Retirements Inc. purchased a new position in Cisco Systems in the 3rd quarter worth approximately $264,000. Frisch Financial Group Inc. raised its holdings in Cisco Systems by 5.8% in the 3rd quarter. Frisch Financial Group Inc. now owns 7,889 shares of the network equipment provider’s stock worth $420,000 after acquiring an additional 430 shares during the last quarter. Raelipskie Partnership purchased a new position in Cisco Systems in the 3rd quarter worth approximately $1,598,000. Finally, LRI Investments LLC raised its holdings in Cisco Systems by 104.3% in the 3rd quarter. LRI Investments LLC now owns 20,514 shares of the network equipment provider’s stock worth $1,188,000 after acquiring an additional 10,472 shares during the last quarter. 73.33% of the stock is owned by institutional investors.

Cisco Systems Company Profile

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.