Cisco Systems, Inc. (NASDAQ:CSCO) has been assigned a consensus rating of “Buy” from the thirty-six brokerages that are presently covering the company, MarketBeat Ratings reports. Fourteen analysts have rated the stock with a hold recommendation and twenty-two have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $35.66.
A number of analysts recently commented on CSCO shares. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price target on the stock. in a research note on Wednesday, August 30th. Jefferies Group LLC restated a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a research note on Friday, May 26th. Credit Suisse Group restated an “outperform” rating on shares of Cisco Systems in a research note on Thursday, August 31st. William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Monday, July 3rd. Finally, Drexel Hamilton reaffirmed a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a report on Tuesday, May 16th.
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In related news, insider John T. Chambers sold 250,000 shares of the stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares in the company, valued at approximately $22,710,557.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The disclosure for this sale can be found here. 0.11% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of CSCO. Barnett & Company Inc. increased its stake in shares of Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after acquiring an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC increased its stake in Cisco Systems by 36.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after purchasing an additional 878 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Cisco Systems during the 2nd quarter valued at about $104,000. Grove Bank & Trust increased its stake in Cisco Systems by 141.3% during the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after purchasing an additional 2,120 shares in the last quarter. Finally, Manchester Capital Management LLC increased its stake in Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after purchasing an additional 350 shares in the last quarter. Institutional investors own 74.70% of the company’s stock.
Shares of Cisco Systems (CSCO) traded up 0.68% on Tuesday, hitting $32.41. 18,655,940 shares of the stock traded hands. The stock has a market cap of $161.82 billion, a price-to-earnings ratio of 17.06 and a beta of 1.19. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $34.60. The stock has a 50 day moving average price of $31.58 and a 200-day moving average price of $32.50.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.61. The company had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. Cisco Systems’s revenue was down 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. On average, equities research analysts forecast that Cisco Systems will post $2.43 EPS for the current year.
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).
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