Cisco Systems (NASDAQ:CSCO) Price Target Increased to $53.00 by Analysts at Deutsche Bank Aktiengesellschaft

Cisco Systems (NASDAQ:CSCO) had its price objective lifted by Deutsche Bank Aktiengesellschaft from $52.00 to $53.00 in a report published on Thursday morning, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the network equipment provider’s stock.

A number of other research firms have also recently commented on CSCO. Jefferies Financial Group dropped their price objective on Cisco Systems from $56.00 to $53.00 and set a buy rating for the company in a research report on Thursday. Barclays dropped their price objective on Cisco Systems from $50.00 to $49.00 and set an equal weight rating for the company in a research report on Thursday. Wells Fargo & Company lifted their price objective on Cisco Systems from $52.00 to $57.00 and gave the stock an equal weight rating in a research report on Thursday, May 16th. Piper Sandler reiterated a neutral rating and set a $52.00 price objective on shares of Cisco Systems in a research report on Wednesday, June 5th. Finally, Rosenblatt Securities lifted their price objective on Cisco Systems from $56.00 to $58.00 and gave the stock a neutral rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cisco Systems currently has a consensus rating of Hold and a consensus price target of $55.89.

Cisco Systems Trading Up 1.9 %

Shares of CSCO stock opened at $49.46 on Thursday. Cisco Systems has a fifty-two week low of $44.50 and a fifty-two week high of $58.19. The stock has a market cap of $199.27 billion, a P/E ratio of 16.65, a P/E/G ratio of 2.97 and a beta of 0.85. The business has a fifty day simple moving average of $46.74 and a 200-day simple moving average of $47.86. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the business posted $1.01 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, analysts forecast that Cisco Systems will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the sale, the executive vice president now owns 176,384 shares of the company’s stock, valued at $7,997,250.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,090 shares of company stock valued at $1,522,231. 0.02% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Cisco Systems

Several institutional investors and hedge funds have recently made changes to their positions in CSCO. Tennessee Valley Asset Management Partners bought a new stake in Cisco Systems in the fourth quarter valued at $78,000. Rakuten Securities Inc. purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $43,000. Waterfront Wealth Inc. boosted its position in shares of Cisco Systems by 2.1% in the 4th quarter. Waterfront Wealth Inc. now owns 18,849 shares of the network equipment provider’s stock valued at $952,000 after purchasing an additional 380 shares during the period. Peterson Wealth Services increased its stake in Cisco Systems by 18.8% in the 4th quarter. Peterson Wealth Services now owns 29,994 shares of the network equipment provider’s stock worth $1,515,000 after purchasing an additional 4,754 shares in the last quarter. Finally, Ninety One UK Ltd raised its holdings in Cisco Systems by 1.5% during the 4th quarter. Ninety One UK Ltd now owns 272,994 shares of the network equipment provider’s stock worth $13,792,000 after buying an additional 4,106 shares during the period. 73.33% of the stock is currently owned by hedge funds and other 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 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.