Deutsche Bank Aktiengesellschaft Raises Cisco Systems (NASDAQ:CSCO) Price Target to $53.00

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

Other equities analysts have also issued reports about the stock. Wells Fargo & Company upped their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock an equal weight rating in a research report on Thursday, May 16th. Oppenheimer upped their price target on shares of Cisco Systems from $54.00 to $58.00 and gave the stock an outperform rating in a research report on Thursday, May 16th. BNP Paribas upgraded shares of Cisco Systems from an underperform rating to a neutral rating and set a $50.00 target price for the company in a research report on Monday, May 13th. Jefferies Financial Group dropped their target price on shares of Cisco Systems from $56.00 to $53.00 and set a buy rating for the company in a research report on Thursday. Finally, Rosenblatt Securities upped their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a neutral rating in a research report on Thursday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $56.70.

Cisco Systems Price Performance

Shares of CSCO traded up $0.93 during mid-day trading on Thursday, reaching $49.46. The stock had a trading volume of 27,255,348 shares, compared to its average volume of 19,934,107. The firm has a market cap of $199.27 billion, a price-to-earnings ratio of 16.67, a PEG ratio of 2.97 and a beta of 0.85. Cisco Systems has a 12 month low of $44.50 and a 12 month high of $58.19. The business has a fifty day moving average of $46.67 and a 200 day moving average of $47.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89.

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

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders 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 is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total transaction of $1,213,859.10. Following the transaction, the chief executive officer now owns 725,363 shares of the company’s stock, valued at approximately $33,439,234.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the sale, the chief executive officer now directly owns 725,363 shares in the company, valued at approximately $33,439,234.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 3,378 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $45.89, for a total transaction of $155,016.42. Following the completion of the sale, the senior vice president now owns 52,953 shares in the company, valued at $2,430,013.17. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,090 shares of company stock valued at $1,522,231. Company insiders own 0.02% of the company’s stock.

Institutional Trading of Cisco Systems

A number of institutional investors have recently modified their holdings of CSCO. Charles Schwab Investment Management Inc. boosted its stake in Cisco Systems by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after purchasing an additional 6,345,954 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after purchasing an additional 1,853,598 shares in the last quarter. Norges Bank acquired a new stake in Cisco Systems in the 4th quarter worth approximately $2,528,939,000. Legal & General Group Plc lifted its stake in Cisco Systems by 3.3% during the 2nd quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Cisco Systems by 7.6% during the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after acquiring an additional 3,314,330 shares during the period. 73.33% of the stock is currently owned by institutional investors.

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 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.