Cisco Systems (NASDAQ:CSCO) Lifted to “Strong-Buy” at Hsbc Global Res

Hsbc Global Res upgraded shares of Cisco Systems (NASDAQ:CSCO) to a strong-buy rating in a research note issued to investors on Friday, Zacks.com reports.

CSCO has been the subject of several other reports. HSBC upgraded Cisco Systems from a hold rating to a buy rating and raised their price target for the stock from $46.00 to $58.00 in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on Cisco Systems from $52.00 to $53.00 and gave the company a hold rating in a research report on Thursday. StockNews.com lowered shares of Cisco Systems from a buy rating to a hold rating in a research note on Thursday, May 23rd. BNP Paribas raised shares of Cisco Systems from an underperform rating to a neutral rating and set a $50.00 target price on the stock in a research note on Monday, May 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $53.00 to $55.00 and gave the company a hold rating in a research report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Cisco Systems presently has an average rating of Hold and a consensus price target of $55.89.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $49.46 on Friday. The stock has a market cap of $199.27 billion, a PE ratio of 16.65, a P/E/G ratio of 2.97 and a beta of 0.85. Cisco Systems has a twelve month low of $44.50 and a twelve month high of $58.19. The stock has a fifty day simple moving average of $46.74 and a 200-day simple moving average of $47.86. The company has a current ratio of 0.89, a quick ratio of 0.82 and a debt-to-equity ratio of 0.44.

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

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.23%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insiders Place Their Bets

In other news, CEO Charles Robbins sold 26,331 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 725,363 shares in the company, valued at approximately $33,439,234.30. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,378 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $45.89, for a total value 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Charles Robbins sold 26,331 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The stock was 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 in the company, valued at $33,439,234.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,090 shares of company stock valued at $1,522,231. 0.02% of the stock is owned by corporate insiders.

Institutional Trading of Cisco Systems

A number of large investors have recently bought and sold shares of the business. Mcintyre Freedman & Flynn Investment Advisers Inc. lifted its stake in Cisco Systems by 0.3% during the fourth quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 59,756 shares of the network equipment provider’s stock valued at $3,019,000 after purchasing an additional 202 shares during the last quarter. Hyman Charles D grew its holdings in shares of Cisco Systems by 0.3% in the 4th quarter. Hyman Charles D now owns 70,727 shares of the network equipment provider’s stock worth $3,573,000 after acquiring an additional 203 shares during the last quarter. Baker Boyer National Bank raised its position in shares of Cisco Systems by 2.6% during the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after purchasing an additional 210 shares during the period. Holland Advisory Services Inc. lifted its holdings in shares of Cisco Systems by 5.3% during the first quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock valued at $211,000 after purchasing an additional 213 shares during the last quarter. Finally, WealthPLAN Partners LLC boosted its position in shares of Cisco Systems by 3.0% in the 1st quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock valued at $369,000 after purchasing an additional 213 shares during the period. Institutional investors and hedge funds own 73.33% 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 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.