Other analysts also recently issued reports about the stock. William Blair restated a “market perform” rating on shares of Cisco Systems in a report on Thursday, November 14th. Royal Bank of Canada set a $56.00 price target on shares of Cisco Systems and gave the company a “buy” rating in a report on Wednesday, November 13th. Evercore ISI reiterated a “buy” rating on shares of Cisco Systems in a report on Sunday, December 15th. Citigroup downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating and cut their price target for the company from $56.00 to $52.00 in a report on Wednesday, January 8th. Finally, Bank of America downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating in a report on Wednesday, January 8th. Thirteen research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $54.78.
Shares of Cisco Systems stock traded down $0.05 during trading hours on Wednesday, reaching $48.95. The company’s stock had a trading volume of 8,903,987 shares, compared to its average volume of 15,692,901. The firm has a 50 day moving average price of $47.10 and a 200-day moving average price of $48.88. Cisco Systems has a one year low of $43.40 and a one year high of $58.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64. The stock has a market cap of $208.13 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.85 and a beta of 1.23.
In other Cisco Systems news, EVP Irving Tan sold 10,733 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $44.81, for a total value of $480,945.73. Following the completion of the sale, the executive vice president now directly owns 172,199 shares of the company’s stock, valued at approximately $7,716,237.19. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 208,084 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $44.83, for a total transaction of $9,328,405.72. The disclosure for this sale can be found here. Over the last three months, insiders sold 388,864 shares of company stock valued at $17,474,321. 0.03% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in CSCO. Arjuna Capital lifted its position in shares of Cisco Systems by 1.8% in the 2nd quarter. Arjuna Capital now owns 81,513 shares of the network equipment provider’s stock worth $4,461,000 after purchasing an additional 1,435 shares during the period. Keudell Morrison Wealth Management lifted its position in shares of Cisco Systems by 70.2% in the 2nd quarter. Keudell Morrison Wealth Management now owns 38,279 shares of the network equipment provider’s stock worth $2,095,000 after purchasing an additional 15,784 shares during the period. Marshall Wace LLP purchased a new stake in shares of Cisco Systems in the 2nd quarter worth approximately $5,316,000. Point72 Asset Management L.P. purchased a new stake in shares of Cisco Systems in the 2nd quarter worth approximately $1,381,000. Finally, Worldquant Millennium Advisors LLC lifted its position in shares of Cisco Systems by 25.0% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 19,835 shares of the network equipment provider’s stock worth $1,086,000 after purchasing an additional 3,967 shares during the period. 72.62% of the stock is owned by institutional investors.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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