Cisco Systems (CSCO) Upgraded to “Buy” at Bank of America

Bank of America upgraded shares of Cisco Systems (NASDAQ:CSCO) from a neutral rating to a buy rating in a research report report published on Friday morning. They currently have $46.00 target price on the network equipment provider’s stock, up from their previous target price of $38.99. The analysts noted that the move was a valuation call.

CSCO has been the subject of a number of other research reports. Oppenheimer reaffirmed a buy rating and set a $36.00 target price on shares of Cisco Systems in a report on Friday, October 20th. Robert W. Baird reaffirmed a buy rating and set a $38.00 target price on shares of Cisco Systems in a report on Monday, September 11th. Wells Fargo & Co reaffirmed an outperform rating and set a $42.00 target price on shares of Cisco Systems in a report on Tuesday, November 14th. ValuEngine raised shares of Cisco Systems from a hold rating to a buy rating in a report on Tuesday, September 26th. Finally, Vetr raised shares of Cisco Systems from a sell rating to a hold rating and set a $38.01 target price for the company in a report on Wednesday, December 27th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $37.66.

Cisco Systems (NASDAQ:CSCO) traded up $0.54 on Friday, reaching $39.53. 24,590,000 shares of the company’s stock were exchanged, compared to its average volume of 20,350,000. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. Cisco Systems has a 12-month low of $29.80 and a 12-month high of $39.88. The firm has a market cap of $198,130.00, a price-to-earnings ratio of 20.48, a PEG ratio of 3.53 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. equities analysts forecast that Cisco Systems will post 2.21 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a $0.29 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.16 annualized dividend and a yield of 2.93%. Cisco Systems’s dividend payout ratio is currently 60.10%.

In related news, CAO Prat Bhatt sold 2,606 shares of the business’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $95,092.94. Following the sale, the chief accounting officer now directly owns 89,184 shares of the company’s stock, valued at approximately $3,254,324.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the sale, the insider now directly owns 712,736 shares in the company, valued at $26,014,864. The disclosure for this sale can be found here. Insiders sold a total of 348,643 shares of company stock worth $12,892,271 over the last ninety days. 0.05% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Good Life Advisors LLC raised its holdings in shares of Cisco Systems by 17.1% in the 1st quarter. Good Life Advisors LLC now owns 28,314 shares of the network equipment provider’s stock valued at $935,000 after purchasing an additional 4,139 shares during the period. Sii Investments Inc. WI raised its holdings in shares of Cisco Systems by 8.6% in the 1st quarter. Sii Investments Inc. WI now owns 141,441 shares of the network equipment provider’s stock valued at $4,769,000 after purchasing an additional 11,148 shares during the period. Signaturefd LLC raised its holdings in shares of Cisco Systems by 57.5% in the 1st quarter. Signaturefd LLC now owns 67,161 shares of the network equipment provider’s stock valued at $2,270,000 after purchasing an additional 24,507 shares during the period. Cypress Capital Group raised its holdings in shares of Cisco Systems by 29.3% in the 1st quarter. Cypress Capital Group now owns 54,765 shares of the network equipment provider’s stock valued at $1,851,000 after purchasing an additional 12,411 shares during the period. Finally, Highbridge Capital Management LLC raised its holdings in shares of Cisco Systems by 14.1% in the 1st quarter. Highbridge Capital Management LLC now owns 156,532 shares of the network equipment provider’s stock valued at $5,292,000 after purchasing an additional 19,320 shares during the period. 75.55% of the stock is currently owned by hedge funds and other institutional investors.

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Cisco Systems Company Profile

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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