Cisco Systems, Inc. (CSCO) Given New $33.00 Price Target at Nomura

Cisco Systems, Inc. (NASDAQ:CSCO) had its price objective increased by Nomura from $29.00 to $33.00 in a research report released on Thursday morning. They currently have a neutral rating on the network equipment provider’s stock.

Several other equities analysts have also recently weighed in on the company. Vetr raised Cisco Systems from a hold rating to a buy rating and set a $35.02 target price on the stock in a research note on Wednesday, September 6th. ValuEngine cut Cisco Systems from a buy rating to a hold rating in a research note on Monday, August 28th. Deutsche Bank AG reaffirmed a buy rating and set a $40.00 target price on shares of Cisco Systems in a research note on Wednesday, September 6th. Credit Suisse Group reaffirmed an outperform rating on shares of Cisco Systems in a research note on Thursday, August 31st. Finally, Zacks Investment Research cut Cisco Systems from a hold rating to a sell rating in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $36.67.

Shares of Cisco Systems (CSCO) traded up $0.02 during midday trading on Thursday, hitting $35.90. 27,985,816 shares of the company were exchanged, compared to its average volume of 20,211,973. The company has a market capitalization of $177,670.00, a PE ratio of 15.69, a P/E/G ratio of 2.98 and a beta of 1.15. Cisco Systems has a fifty-two week low of $29.12 and a fifty-two week high of $36.67. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. Cisco Systems’s revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. analysts expect that Cisco Systems will post 2.18 EPS for the current year.

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The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.10%.

In other Cisco Systems news, SVP Karen Walker sold 23,110 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $740,906.60. Following the transaction, the senior vice president now owns 192,774 shares of the company’s stock, valued at $6,180,334.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Charles Robbins sold 121,390 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $3,891,763.40. Following the completion of the transaction, the chief executive officer now directly owns 552,694 shares in the company, valued at approximately $17,719,369.64. The disclosure for this sale can be found here. Insiders sold 485,138 shares of company stock worth $15,347,574 over the last quarter. Company insiders own 0.05% of the company’s stock.

A number of institutional investors have recently bought and sold shares of CSCO. Hamlin Capital Management LLC boosted its stake in Cisco Systems by 9.5% in the first quarter. Hamlin Capital Management LLC now owns 2,476,478 shares of the network equipment provider’s stock worth $83,705,000 after purchasing an additional 214,475 shares in the last quarter. Smith Chas P & Associates PA Cpas lifted its stake in shares of Cisco Systems by 2.3% during the first quarter. Smith Chas P & Associates PA Cpas now owns 600,236 shares of the network equipment provider’s stock valued at $20,288,000 after acquiring an additional 13,643 shares during the period. Argyle Capital Management Inc. lifted its stake in shares of Cisco Systems by 0.6% during the first quarter. Argyle Capital Management Inc. now owns 85,520 shares of the network equipment provider’s stock valued at $2,891,000 after acquiring an additional 500 shares during the period. Greenwich Wealth Management LLC lifted its stake in shares of Cisco Systems by 64.9% during the first quarter. Greenwich Wealth Management LLC now owns 450,584 shares of the network equipment provider’s stock valued at $15,230,000 after acquiring an additional 177,314 shares during the period. Finally, Hudock Capital Group LLC lifted its stake in shares of Cisco Systems by 22.9% during the first quarter. Hudock Capital Group LLC now owns 45,940 shares of the network equipment provider’s stock valued at $1,552,000 after acquiring an additional 8,567 shares during the period. 75.22% of the stock is currently owned by institutional investors.

About Cisco Systems

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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