Cisco Systems (NASDAQ:CSCO) Receives “Hold” Rating from Goldman Sachs Group

Goldman Sachs Group reiterated their hold rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note released on Thursday morning, TipRanks reports. Goldman Sachs Group currently has a $48.00 price objective on the network equipment provider’s stock.

CSCO has been the subject of several other reports. Bank of America lowered shares of Cisco Systems from a buy rating to a neutral rating in a report on Wednesday, January 8th. Zacks Investment Research raised shares of Cisco Systems from a sell rating to a hold rating and set a $50.00 price objective for the company in a report on Wednesday, January 15th. Needham & Company LLC reissued a hold rating on shares of Cisco Systems in a report on Thursday, November 14th. Piper Jaffray Companies lowered shares of Cisco Systems from an overweight rating to a neutral rating and decreased their price objective for the stock from $55.00 to $51.00 in a report on Monday, November 11th. Finally, UBS Group reissued a buy rating and set a $54.00 price objective (down from $58.00) on shares of Cisco Systems in a report on Thursday, November 14th. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $54.41.

CSCO traded down $0.35 during trading hours on Thursday, reaching $46.97. 26,733,355 shares of the stock traded hands, compared to its average volume of 19,355,203. The firm’s fifty day simple moving average is $47.96 and its two-hundred day simple moving average is $47.93. The company has a market cap of $207.32 billion, a price-to-earnings ratio of 18.71, a PEG ratio of 2.84 and a beta of 1.22. Cisco Systems has a fifty-two week low of $43.40 and a fifty-two 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.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $11.98 billion. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period last year, the business earned $0.73 EPS. On average, research analysts predict that Cisco Systems will post 2.94 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be given a $0.36 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend is Thursday, April 2nd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.

In related news, CAO Prat Bhatt sold 39,343 shares of Cisco Systems stock in a transaction dated 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 sale, the chief accounting officer now directly owns 137,634 shares in the company, valued at approximately $6,177,013.92. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the completion of the sale, the chief financial officer now owns 352,587 shares in the company, valued at $15,933,406.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 388,864 shares of company stock worth $17,474,321. Insiders own 0.03% of the company’s stock.

Large investors have recently modified their holdings of the stock. Cairn Investment Group Inc. bought a new stake in Cisco Systems in the 4th quarter valued at about $937,000. Evoke Wealth LLC acquired a new position in Cisco Systems during the 3rd quarter valued at about $1,387,000. Beacon Financial Group increased its stake in Cisco Systems by 2.1% during the 4th quarter. Beacon Financial Group now owns 144,526 shares of the network equipment provider’s stock valued at $6,931,000 after buying an additional 3,005 shares during the period. Eagle Asset Management Inc. increased its stake in Cisco Systems by 10.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 3,195,050 shares of the network equipment provider’s stock valued at $157,867,000 after buying an additional 299,499 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in Cisco Systems by 11.2% during the 4th quarter. Russell Investments Group Ltd. now owns 2,415,950 shares of the network equipment provider’s stock valued at $115,517,000 after buying an additional 244,296 shares during the period. Hedge funds and other institutional investors own 72.57% 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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Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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