Cisco Systems Inc. (NASDAQ:CSCO)‘s stock had its “market perform” rating reaffirmed by investment analysts at JMP Securities in a report issued on Wednesday.
Several other equities research analysts also recently weighed in on CSCO. RBC Capital Markets reissued an “outperform” rating and issued a $35.00 price target on shares of Cisco Systems in a report on Sunday, September 4th. Vetr downgraded Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 price target for the company. in a report on Monday, September 5th. Deutsche Bank AG reissued a “buy” rating and issued a $35.00 price target on shares of Cisco Systems in a report on Tuesday, September 6th. Raymond James Financial Inc. raised their price target on Cisco Systems from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, September 23rd. Finally, Jefferies Group reissued a “buy” rating and issued a $35.00 price target on shares of Cisco Systems in a report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $32.50.
Shares of Cisco Systems (NASDAQ:CSCO) opened at 31.48 on Wednesday. Cisco Systems has a 12-month low of $22.46 and a 12-month high of $31.95. The stock has a market capitalization of $157.85 billion, a price-to-earnings ratio of 14.92 and a beta of 1.49. The company has a 50-day moving average of $31.30 and a 200 day moving average of $29.40.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The company had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.57 billion. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Analysts predict that Cisco Systems will post $2.43 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be issued a $0.26 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.30%. Cisco Systems’s dividend payout ratio is currently 49.06%.
In other news, SVP Mark D. Chandler sold 25,024 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $30.44, for a total value of $761,730.56. Following the completion of the sale, the senior vice president now directly owns 229,905 shares of the company’s stock, valued at approximately $6,998,308.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven M. West sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total value of $453,000.00. Following the completion of the sale, the director now directly owns 26,804 shares of the company’s stock, valued at $809,480.80. The disclosure for this sale can be found here. 0.13% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Sun Life Financial INC acquired a new stake in Cisco Systems during the first quarter valued at approximately $63,773,000. Riggs Asset Managment Co. Inc. boosted its stake in Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock valued at $102,000 after buying an additional 225 shares in the last quarter. Lenox Wealth Management Inc. boosted its stake in Cisco Systems by 35.0% in the second quarter. Lenox Wealth Management Inc. now owns 3,835 shares of the network equipment provider’s stock valued at $110,000 after buying an additional 995 shares in the last quarter. West Oak Capital LLC boosted its stake in Cisco Systems by 19.1% in the third quarter. West Oak Capital LLC now owns 4,052 shares of the network equipment provider’s stock valued at $129,000 after buying an additional 651 shares in the last quarter. Finally, Global X Management Co. LLC boosted its stake in Cisco Systems by 101.9% in the second quarter. Global X Management Co. LLC now owns 4,244 shares of the network equipment provider’s stock valued at $122,000 after buying an additional 2,142 shares in the last quarter. 75.00% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Company Profile
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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