StockNews.com raised its recommendation for Cisco Systems (NASDAQ: CSCO), moving it from “buy” to “strong-buy” as part of a study that was published on Friday.
Recent reports on the company they have been working on have been written by several additional analysts who recently published their reports. Morgan Stanley raised its price objective on Cisco Systems on Tuesday, December 13, in a research report that was released. The new price objective is $52.00, up from $48.00 previously. Additionally, an “equal weight” rating was given to the stock by the company. Cowen raised their price objective on Cisco Systems from $60.00 to $61.00 and rated the company “outperform” in a research note published on November 17. In a research note published on September 21, Barclays decreased their price objective for Cisco Systems from $56.00 to $40.00 and downgraded the stock from “overweight” to “equal weight.” Deutsche Bank Aktiengesellschaft rated the shares of Cisco Systems as a “hold” investment in a research analysis published on Friday, November 18.
Additionally, the firm decreased its target price for the company’s stock from $54.00 to $52.00. Both of these changes were made as part of the same report. The rating for Cisco Systems was raised by TheStreet from “c+” to “b-” in a research study published on November 28. This represents an improvement of one tier from the company’s previous standing. One of the research analysts has assigned the company a rating of “sell,” nine have assigned it a recommendation to “hold,” ten have assigned it a rating of “buy,” and one of the analysts has assigned it a rating of “strong buy.” The data that Bloomberg provided indicates that the company has been given a consensus rating of “Moderate Buy” and that the price target that the consensus has determined is $53.84.
On Friday, the price of each share of Cisco Systems stock was set at $47.32 when trading began. Over the previous calendar year, the price of Cisco Systems ranged from its all-time low of $38.60 to its all-time high of $64.29. The moving average of the company’s stock price over the past 50 days is $46.25, and the moving average over the past 200 days is $44.70. A debt-to-equity ratio of 0.19, a current ratio of 1.45, a quick ratio of 1.34, and a current ratio of 1.45 are some of the present financial ratios. The stock has a price-to-earnings ratio of 17.08, a price-to-growth ratio of 2.30, and a beta value of 1.00. These ratios compare the price of the stock to its future earnings potential. The company currently has a market capitalization of $194.43 billion.
On November 16, Cisco Systems (NASDAQ: CSCO) announced that it would be publishing its quarterly financial results. This event took place on Wednesday. A network equipment manufacturer reported earnings per share for the quarter of $0.77, which was $0.04 higher than the analysts’ consensus estimate of $0.73. The company’s revenue for the quarter was also $0.77 million. The company’s revenue for the quarter came in at $13.63 billion, significantly higher than the average prediction of $13.29 billion made by financial analysts. Cisco Systems had a return on equity of 31.68%, and its net margin was 22.00%. The company was very profitable.
In comparison to the same period in the prior year, Cisco Systems reported a quarterly revenue increase of 5.7% for the period in question. The company reported earnings per share of $0.73 for the same period in the prior year’s financial statements. Stock and share market analysts predict that Cisco Systems will earn $3.16 per share during the current financial year.
Executive Vice President Jeffery S. Sharritts sold 14,830 Cisco Systems stock on November 21. This is in addition to what was previously mentioned. The sale of the shares resulted in total revenue of $708,874.00, with the average price at which each share could be purchased being $47.80. The transaction resulted in the executive vice president gaining direct control over 277,751 company shares, which have a combined value of $13,276,497.80. Follow the link, which will take you to a filing submitted to the Securities and Exchange Commission. You will have the opportunity to acquire additional information regarding the transaction. On November 21, the Executive Vice President of Cisco Systems, Jeffery S. Sharritts, sold 14,830 shares. This is one of the latest developments in connection with this topic. The total value of the company’s stock that changed hands was $708,874, with each share changing hands for an average price of $47.80. The executive vice president now has direct ownership of 277,751 shares of the company’s stock, which have a combined value of $13,276,497.80 as a result of the transaction. If you follow this link, you will be taken to the SEC filing in which the sale was disclosed. Please click on the link to proceed.
Additionally, on Tuesday, December 13, Executive Vice President and Chief Operating Officer Jeffery S. Sharritts sold 637 shares of company stock. On average, $50.08 was paid for each share of stock, and a total value of $31,900.96 was obtained from the sale of shares. Following the completion of the sale, the executive vice president will have a total of 276,589 shares of company stock. The stock is estimated to be worth approximately $13,851,577 at present. Twelve disclosures that are related to the sale might be found in this section of the website. Insiders of the company have sold 243,098 company stock over the past three months, bringing in a total of $11,939,277 from the transactions. This amounts to 0.02% of the stock’s total market value at the moment.
Hedge funds have recently altered how they keep their positions in the company to better suit their needs. Continental Investors Services Inc. increased its investment in Cisco Systems by purchasing an additional share during the third quarter, bringing the total amount invested to approximately $449,000. MQS Management LLC made a new investment in Cisco Systems during the third quarter of 2018 worth 319 thousand dollars. WealthPlan Investment Management LLC increased its holdings in Cisco Systems during the third quarter by purchasing shares in the company for a total value of $440,000. During the third quarter of 2018, Weiss Asset Management LP brought the total value of its holdings in Cisco Systems to $1,677,000. And finally, during the most recent quarter, which ended on September 30, Centaurus Financial Inc. increased the percentage of Cisco Systems stock owned by 8.2%. The value of the 21,297 shares of the network equipment provider company that Centaurus Financial Inc. currently owns is $852,000. Since the end of the previous quarter, this reflects an increase of 1,614 shares in the company’s overall holdings. Shares of the company are currently held by hedge funds and other institutional investors, accounting for 71.10 percent of the total.
In addition to other communications and information technology products, Cisco Systems, Inc. is responsible for developing, producing, and distributing Internet Protocol-based networking products in the markets of the Americas, Europe, the Middle East, Africa, Asia Pacific, Japan, and China. Additionally, the company offers wireless products such as standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings for customers to choose from. In addition, the company possesses a switching portfolio that includes campus switching, and data center switching, an enterprise routing portfolio that connects public and private wireline and mobile networks, and a compute portfolio that includes standalone systems as part of its offerings. Through these services, connectivity to campus networks, data center networks, and branch networks can be obtained in a manner that is not only highly reliable but also extremely secure.