Cisco Systems (NASDAQ:CSCO) Price Target Lowered to $51.00 at MKM Partners

Cisco Systems (NASDAQ:CSCO) had its price target reduced by MKM Partners from $56.00 to $51.00 in a research note released on Thursday, The Fly reports. They currently have a neutral rating on the network equipment provider’s stock.

A number of other analysts have also recently commented on the company. Royal Bank of Canada lowered their price target on Cisco Systems from $64.00 to $53.00 and set an outperform rating for the company in a research report on Thursday. Tigress Financial reaffirmed a buy rating on shares of Cisco Systems in a research report on Thursday, June 27th. UBS Group set a $61.00 price target on Cisco Systems and gave the stock a buy rating in a research report on Wednesday, June 26th. Oppenheimer lifted their price target on Cisco Systems from $52.00 to $60.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Finally, Robert W. Baird reaffirmed a buy rating and set a $57.00 price target on shares of Cisco Systems in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have given a buy rating to the company’s stock. Cisco Systems currently has an average rating of Buy and an average target price of $56.59.

Shares of CSCO opened at $46.96 on Thursday. The stock has a 50-day moving average of $55.20 and a two-hundred day moving average of $53.85. Cisco Systems has a one year low of $40.25 and a one year high of $58.26. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.64 and a current ratio of 1.51. The stock has a market cap of $197.98 billion, a P/E ratio of 16.48, a P/E/G ratio of 2.12 and a beta of 1.18.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. During the same quarter in the previous year, the firm posted $0.70 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Analysts predict that Cisco Systems will post 3.11 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.98%. Cisco Systems’s payout ratio is currently 49.12%.

In related news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $53.56, for a total value of $3,749,200.00. Following the completion of the transaction, the chief financial officer now owns 349,122 shares in the company, valued at approximately $18,698,974.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mark D. Chandler sold 1,379 shares of Cisco Systems stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $55.94, for a total value of $77,141.26. The disclosure for this sale can be found here. Insiders have sold a total of 91,379 shares of company stock valued at $4,950,541 in the last quarter. Company insiders own 0.03% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Mirador Capital Partners LP boosted its holdings in Cisco Systems by 1.7% in the 2nd quarter. Mirador Capital Partners LP now owns 11,977 shares of the network equipment provider’s stock worth $656,000 after buying an additional 199 shares during the last quarter. Weil Company Inc. boosted its holdings in Cisco Systems by 0.5% in the 2nd quarter. Weil Company Inc. now owns 38,992 shares of the network equipment provider’s stock worth $2,134,000 after buying an additional 201 shares during the last quarter. Pinnacle Holdings LLC boosted its holdings in Cisco Systems by 1.0% in the 2nd quarter. Pinnacle Holdings LLC now owns 19,758 shares of the network equipment provider’s stock worth $1,081,000 after buying an additional 201 shares during the last quarter. Baystate Wealth Management LLC boosted its holdings in Cisco Systems by 2.0% in the 2nd quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock worth $600,000 after buying an additional 202 shares during the last quarter. Finally, Keel Point LLC boosted its holdings in Cisco Systems by 3.7% in the 2nd quarter. Keel Point LLC now owns 5,708 shares of the network equipment provider’s stock worth $312,000 after buying an additional 202 shares during the last quarter. Hedge funds and other institutional investors own 73.73% of the company’s stock.

Cisco Systems Company Profile

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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