Shares of Cisco Systems, Inc. (NASDAQ:CSCO) have received an average rating of “Buy” from the thirty-three ratings firms that are presently covering the firm, MarketBeat.com reports. Eight research analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $48.76.

A number of analysts have recently issued reports on CSCO shares. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Tuesday, July 24th. Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Monday, July 9th. BidaskClub raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, July 3rd. JPMorgan Chase & Co. set a $59.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Thursday, August 16th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $56.00 price objective on shares of Cisco Systems in a research note on Thursday, August 16th.

In other Cisco Systems news, EVP David Goeckeler sold 63,050 shares of Cisco Systems stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $47.57, for a total value of $2,999,288.50. Following the completion of the transaction, the executive vice president now directly owns 547,019 shares of the company’s stock, valued at approximately $26,021,693.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $3,304,000.00. Following the completion of the transaction, the chief financial officer now directly owns 720,930 shares of the company’s stock, valued at $34,027,896. The disclosure for this sale can be found here. Insiders have sold 450,620 shares of company stock valued at $21,322,282 over the last ninety days. 0.05% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of CSCO. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Cisco Systems by 47.1% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock worth $5,191,000 after acquiring an additional 38,725 shares during the last quarter. Covington Investment Advisors Inc. bought a new stake in shares of Cisco Systems in the 1st quarter worth about $5,331,000. Winfield Associates Inc. lifted its holdings in shares of Cisco Systems by 121.0% in the 1st quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock worth $200,000 after acquiring an additional 2,557 shares during the last quarter. United Capital Financial Advisers LLC lifted its holdings in Cisco Systems by 2.8% during the 1st quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock valued at $89,158,000 after buying an additional 56,027 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Cisco Systems by 29.6% during the 1st quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock valued at $89,873,000 after buying an additional 478,673 shares in the last quarter. 71.57% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ CSCO opened at $45.34 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22. The firm has a market capitalization of $219.00 billion, a PE ratio of 19.38, a PEG ratio of 2.68 and a beta of 1.07. Cisco Systems has a 1 year low of $33.67 and a 1 year high of $49.47.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.69 by $0.01. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 earnings per share. As a group, research analysts predict that Cisco Systems will post 2.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Investors of record on Friday, October 5th will be paid a dividend of $0.33 per share. The ex-dividend date is Thursday, October 4th. This represents a $1.32 annualized dividend and a yield of 2.91%. Cisco Systems’s payout ratio is 56.41%.

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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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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