Fintel reports that on July 19, 2023, JP Morgan upgraded their outlook for Cisco Systems (NASDAQ:CSCO) from Neutral to Overweight.
Analyst Price Forecast Suggests 11.02% Upside
As of July 5, 2023, the average one-year price target for Cisco Systems is 56.89. The forecasts range from a low of 51.51 to a high of $67.20. The average price target represents an increase of 11.02% from its latest reported closing price of 51.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cisco Systems is 55,626MM, an increase of 1.33%. The projected annual non-GAAP EPS is 3.62.
Cisco Systems Declares $0.39 Dividend
On May 17, 2023 the company declared a regular quarterly dividend of $0.39 per share ($1.56 annualized). Shareholders of record as of July 6, 2023 will receive the payment on July 26, 2023. Previously, the company paid $0.39 per share.
At the current share price of $51.24 / share, the stock’s dividend yield is 3.04%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.01%, the lowest has been 2.33%, and the highest has been 4.15%. The standard deviation of yields is 0.36 (n=235).
The current dividend yield is 0.10 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.56. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.08%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 4491 funds or institutions reporting positions in Cisco Systems. This is an increase of 56 owner(s) or 1.26% in the last quarter. Average portfolio weight of all funds dedicated to CSCO is 0.77%, an increase of 26.92%. Total shares owned by institutions decreased in the last three months by 0.94% to 3,272,093K shares. The put/call ratio of CSCO is 0.92, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 114,118K shares representing 2.79% ownership of the company. In it’s prior filing, the firm reported owning 112,402K shares, representing an increase of 1.50%. The firm increased its portfolio allocation in CSCO by 2.87% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 95,860K shares representing 2.34% ownership of the company. In it’s prior filing, the firm reported owning 94,919K shares, representing an increase of 0.98%. The firm increased its portfolio allocation in CSCO by 2.77% over the last quarter.
Geode Capital Management holds 78,378K shares representing 1.91% ownership of the company. In it’s prior filing, the firm reported owning 76,737K shares, representing an increase of 2.09%. The firm increased its portfolio allocation in CSCO by 3.66% over the last quarter.
Charles Schwab Investment Management holds 70,960K shares representing 1.73% ownership of the company. In it’s prior filing, the firm reported owning 70,561K shares, representing an increase of 0.56%. The firm increased its portfolio allocation in CSCO by 4.02% over the last quarter.
Bank of New York Mellon holds 69,487K shares representing 1.70% ownership of the company. In it’s prior filing, the firm reported owning 70,548K shares, representing a decrease of 1.53%. The firm increased its portfolio allocation in CSCO by 3.51% over the last quarter.
Cisco Systems Background Information
(This description is provided by the company.)
Cisco is the worldwide leader in technology that powers the Internet. Cisco inspires new possibilities by reimagining your applications, securing your data, transforming your infrastructure, and empowering your teams for a global and inclusive future.
This article originally appeared on Fintel
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