Cisco Systems, Inc. (NASDAQ:CSCO) Receives $55.89 Average PT from Analysts

Cisco Systems, Inc. (NASDAQ:CSCO) has earned a consensus recommendation of “Hold” from the twenty-three research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, thirteen have given a hold recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $56.11.

Several research firms have recently issued reports on CSCO. Jefferies Financial Group decreased their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Evercore ISI upped their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday. Piper Sandler reiterated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. increased their price target on shares of Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand.

Cisco Systems Trading Up 1.0 %

NASDAQ:CSCO opened at $51.97 on Friday. The stock has a fifty day moving average price of $48.52 and a 200 day moving average price of $48.05. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. Cisco Systems has a 12-month low of $44.50 and a 12-month high of $54.58. The firm has a market cap of $209.38 billion, a PE ratio of 17.50, a price-to-earnings-growth ratio of 3.87 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. Sell-side analysts anticipate that Cisco Systems will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.08%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares in the company, valued at approximately $2,376,085.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the transaction, the executive vice president now owns 165,580 shares of the company’s stock, valued at $8,181,307.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The disclosure for this sale can be found here. Insiders have sold a total of 70,529 shares of company stock worth $3,509,049 in the last three months. Insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Cisco Systems

A number of large investors have recently made changes to their positions in the stock. Clifford Capital Partners LLC lifted its position in shares of Cisco Systems by 21.4% during the 2nd quarter. Clifford Capital Partners LLC now owns 245,953 shares of the network equipment provider’s stock valued at $11,685,000 after acquiring an additional 43,311 shares during the period. Verity & Verity LLC increased its stake in Cisco Systems by 5.1% in the 2nd quarter. Verity & Verity LLC now owns 328,666 shares of the network equipment provider’s stock valued at $15,615,000 after purchasing an additional 15,848 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in Cisco Systems by 25.8% during the second quarter. Newbridge Financial Services Group Inc. now owns 6,617 shares of the network equipment provider’s stock worth $314,000 after purchasing an additional 1,358 shares during the last quarter. Brightwater Advisory LLC acquired a new stake in Cisco Systems in the second quarter valued at $245,000. Finally, Heritage Wealth Management Inc. purchased a new position in shares of Cisco Systems in the second quarter valued at $2,954,000. Hedge funds and other institutional investors 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.