Cisco Systems, Inc. (NASDAQ:CSCO) was upgraded by equities researchers at Vetr from a “sell” rating to a “hold” rating in a research note issued on Monday. The brokerage presently has a $34.51 price target on the network equipment provider’s stock. Vetr‘s target price indicates a potential upside of 0.67% from the company’s current price.
Several other equities research analysts also recently issued reports on the company. Oppenheimer Holdings Inc. set a $34.00 price objective on Cisco Systems and gave the company a “buy” rating in a report on Tuesday, January 24th. Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating in a report on Monday, February 20th. Goldman Sachs Group Inc reiterated a “neutral” rating and issued a $32.00 price objective on shares of Cisco Systems in a report on Thursday, December 29th. Wells Fargo & Co reiterated an “overweight” rating on shares of Cisco Systems in a report on Saturday, January 28th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $33.00 price objective on shares of Cisco Systems in a report on Saturday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty have issued a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $33.97.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.15% during midday trading on Monday, reaching $34.28. The company had a trading volume of 14,974,096 shares. Cisco Systems has a 52 week low of $25.81 and a 52 week high of $34.53. The company’s 50 day moving average price is $33.05 and its 200-day moving average price is $31.26. The company has a market capitalization of $171.67 billion, a P/E ratio of 17.67 and a beta of 1.36.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 15th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The firm had revenue of $11.60 billion for the quarter, compared to the consensus estimate of $11.55 billion. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. During the same quarter in the previous year, the business earned $0.57 EPS. On average, equities research analysts predict that Cisco Systems will post $2.38 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Thursday, April 6th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, April 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.38%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.26. Cisco Systems’s dividend payout ratio is currently 49.52%.
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In other news, Director Steven M. West purchased 3,027 shares of the stock in a transaction that occurred on Wednesday, February 22nd. The shares were acquired at an average price of $33.92 per share, for a total transaction of $102,675.84. Following the acquisition, the director now directly owns 3,700 shares in the company, valued at approximately $125,504. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider John T. Chambers sold 295,538 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $34.06, for a total value of $10,066,024.28. Following the completion of the sale, the insider now owns 1,220,581 shares in the company, valued at approximately $41,572,988.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 373,600 shares of company stock worth $12,723,418. Insiders own 0.11% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Beacon Financial Group boosted its stake in shares of Cisco Systems by 10.3% in the third quarter. Beacon Financial Group now owns 28,870 shares of the network equipment provider’s stock worth $906,000 after buying an additional 2,694 shares during the period. Bath Savings Trust Co boosted its stake in shares of Cisco Systems by 2.8% in the third quarter. Bath Savings Trust Co now owns 20,054 shares of the network equipment provider’s stock worth $636,000 after buying an additional 540 shares during the period. LVM Capital Management Ltd. MI boosted its stake in shares of Cisco Systems by 0.9% in the third quarter. LVM Capital Management Ltd. MI now owns 437,985 shares of the network equipment provider’s stock worth $10,884,000 after buying an additional 3,755 shares during the period. CT Mason boosted its stake in shares of Cisco Systems by 5.8% in the third quarter. CT Mason now owns 178,745 shares of the network equipment provider’s stock worth $5,670,000 after buying an additional 9,770 shares during the period. Finally, Washington Trust Bank boosted its stake in shares of Cisco Systems by 4.3% in the third quarter. Washington Trust Bank now owns 111,712 shares of the network equipment provider’s stock worth $3,544,000 after buying an additional 4,623 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.
Cisco Systems Company Profile
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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