Vetr upgraded shares of Cisco Systems, Inc. (NASDAQ:CSCO) from a hold rating to a buy rating in a research note released on Monday, July 17th. They currently have $33.39 target price on the network equipment provider’s stock.
A number of other equities research analysts have also recently weighed in on the company. Zacks Investment Research cut Cisco Systems from a hold rating to a sell rating in a report on Tuesday, April 18th. Morgan Stanley raised Cisco Systems from an equal weight rating to an overweight rating and raised their price target for the company from $33.45 to $39.00 in a report on Monday, May 15th. Credit Suisse Group raised Cisco Systems from an underperform rating to an outperform rating and lifted their target price for the company from $27.00 to $40.00 in a research note on Thursday, April 27th. Deutsche Bank AG lifted their target price on Cisco Systems from $40.00 to $42.00 and gave the company a buy rating in a research note on Thursday, March 23rd. Finally, Barclays PLC reissued an overweight rating on shares of Cisco Systems in a research note on Saturday, April 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have issued a buy rating to the company. Cisco Systems has a consensus rating of Buy and a consensus target price of $35.31.
Cisco Systems (NASDAQ CSCO) opened at 31.47 on Monday. The firm has a market cap of $157.35 billion, a PE ratio of 15.97 and a beta of 1.24. Cisco Systems has a 52-week low of $29.12 and a 52-week high of $34.60. The firm has a 50-day moving average of $31.54 and a 200-day moving average of $32.53.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. During the same period last year, the firm posted $0.57 EPS. The business’s revenue was down .5% on a year-over-year basis. Equities analysts anticipate that Cisco Systems will post $2.38 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.69%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 58.29%.
In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the sale, the senior vice president now directly owns 271,725 shares in the company, valued at $8,616,399.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock valued at $12,503,407 over the last 90 days. Corporate insiders own 0.11% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Dodge & Cox bought a new stake in Cisco Systems during the fourth quarter worth $1,950,935,000. Norges Bank bought a new stake in Cisco Systems during the fourth quarter worth $1,306,395,000. Boston Partners increased its stake in Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after buying an additional 23,002,159 shares during the last quarter. Asset Management One Co. Ltd. increased its stake in Cisco Systems by 1,032.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 8,822,459 shares of the network equipment provider’s stock worth $266,816,000 after buying an additional 8,043,558 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares during the last quarter. Institutional investors and hedge funds own 75.40% of the company’s stock.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
To view Vetr’s full report, visit Vetr’s official website.
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