Cisco Systems (NASDAQ:CSCO) Lifted to “Hold” at BidaskClub
CSCO has been the topic of a number of other research reports. Edward Jones raised Cisco Systems from a hold rating to a buy rating in a research note on Thursday, December 12th. Needham & Company LLC reissued a hold rating on shares of Cisco Systems in a research note on Thursday, November 14th. Bank of America downgraded Cisco Systems from a buy rating to a neutral rating in a research note on Wednesday, January 8th. Royal Bank of Canada set a $56.00 price objective on Cisco Systems and gave the stock a buy rating in a research note on Wednesday, November 13th. Finally, Zacks Investment Research raised Cisco Systems from a sell rating to a hold rating and set a $50.00 price objective on the stock in a research note on Wednesday, January 15th. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of Buy and a consensus target price of $54.41.
Shares of CSCO traded down $0.35 during midday trading on Thursday, reaching $46.97. The stock had a trading volume of 26,733,355 shares, compared to its average volume of 19,355,203. Cisco Systems has a 52 week low of $43.40 and a 52 week 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 firm’s 50 day moving average price is $47.95 and its 200-day moving average price is $47.89. The company has a market capitalization of $207.32 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 1.22.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.07%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, April 2nd. Cisco Systems’s payout ratio is presently 49.12%.
In other news, CEO Charles Robbins sold 12,597 shares of Cisco Systems stock in a transaction on Monday, November 18th. The stock was sold at an average price of $44.81, for a total transaction of $564,471.57. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Prat Bhatt sold 39,343 shares of Cisco Systems stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $44.88, for a total value of $1,765,713.84. Following the transaction, the chief accounting officer now owns 137,634 shares in the company, valued at approximately $6,177,013.92. The disclosure for this sale can be found here. Insiders sold a total of 388,864 shares of company stock worth $17,474,321 over the last 90 days. Insiders own 0.03% of the company’s stock.
Several hedge funds have recently modified their holdings of CSCO. First Trust Advisors LP grew its holdings in shares of Cisco Systems by 155.6% during the third quarter. First Trust Advisors LP now owns 17,446,107 shares of the network equipment provider’s stock valued at $862,012,000 after buying an additional 10,621,798 shares in the last quarter. Parnassus Investments CA purchased a new position in shares of Cisco Systems during the third quarter valued at $444,882,000. Franklin Resources Inc. grew its holdings in shares of Cisco Systems by 40.8% during the fourth quarter. Franklin Resources Inc. now owns 17,869,145 shares of the network equipment provider’s stock valued at $857,003,000 after buying an additional 5,176,828 shares in the last quarter. FMR LLC grew its holdings in shares of Cisco Systems by 13.1% during the fourth quarter. FMR LLC now owns 36,607,406 shares of the network equipment provider’s stock valued at $1,755,691,000 after buying an additional 4,244,954 shares in the last quarter. Finally, M&G Investment Management Ltd. purchased a new position in shares of Cisco Systems during the fourth quarter valued at $185,636,000. Institutional investors and hedge funds own 72.57% of the company’s stock.
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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