Cisco Systems (CSCO) Receives Buy Rating from Argus

Argus reaffirmed their buy rating on shares of Cisco Systems (NASDAQ:CSCO) in a report issued on Friday morning. The brokerage currently has a $50.00 target price on the network equipment provider’s stock, up from their previous target price of $44.00.

Several other brokerages have also recently weighed in on CSCO. Royal Bank of Canada reaffirmed a buy rating and issued a $36.00 price target on shares of Cisco Systems in a research report on Wednesday, November 15th. BidaskClub raised shares of Cisco Systems from a buy rating to a strong-buy rating in a research report on Friday, January 5th. Vetr raised shares of Cisco Systems from a buy rating to a strong-buy rating and set a $44.13 price target for the company in a research report on Monday, February 5th. BMO Capital Markets upped their price target on shares of Cisco Systems from $36.00 to $43.00 and gave the stock a market perform rating in a research report on Thursday. Finally, KeyCorp upped their price target on shares of Cisco Systems from $43.00 to $49.00 and gave the stock an overweight rating in a research report on Thursday. Twelve research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $43.57.

Shares of Cisco Systems (CSCO) traded up $0.25 on Friday, hitting $44.33. 38,624,634 shares of the stock traded hands, compared to its average volume of 30,950,000. Cisco Systems has a 52-week low of $30.36 and a 52-week high of $45.13. The stock has a market cap of $220,390.00, a PE ratio of -138.53, a PEG ratio of 3.96 and a beta of 1.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.81.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.82 billion. During the same quarter in the prior year, the company earned $0.57 EPS. equities analysts expect that Cisco Systems will post 2.23 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, April 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio is presently -362.50%.

Cisco Systems announced that its board has authorized a share buyback program on Wednesday, February 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

In other news, insider John T. Chambers sold 250,000 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the sale, the insider now owns 712,736 shares in the company, valued at $26,014,864. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the sale, the senior vice president now owns 257,476 shares in the company, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. Insiders sold 348,643 shares of company stock worth $12,892,271 in the last quarter. Company insiders own 0.05% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Cisco Systems by 12.8% during the fourth quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock worth $4,709,302,000 after buying an additional 13,927,416 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Cisco Systems by 23.6% during the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after buying an additional 11,972,070 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in Cisco Systems by 91.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 19,498,882 shares of the network equipment provider’s stock worth $746,806,000 after buying an additional 9,292,187 shares in the last quarter. Stifel Financial Corp boosted its holdings in Cisco Systems by 6,109.5% during the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock worth $273,977,000 after buying an additional 8,016,561 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares in the last quarter. Hedge funds and other institutional investors own 75.42% of the company’s stock.

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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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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