Shares of Cisco Systems, Inc. (NASDAQ:CSCO) have been assigned a consensus rating of “Buy” from the thirty-six ratings firms that are currently covering the stock, Marketbeat Ratings reports. Fifteen equities research analysts have rated the stock with a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $35.38.
Several equities analysts have recently issued reports on CSCO shares. Berenberg Bank set a $33.00 price target on Cisco Systems and gave the company a “hold” rating in a research report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 target price on Cisco Systems and gave the stock a “buy” rating in a report on Saturday, July 1st. Stifel Nicolaus set a $34.00 target price on Cisco Systems and gave the stock a “hold” rating in a report on Tuesday, August 15th. JMP Securities restated a “market perform” rating on shares of Cisco Systems in a report on Friday, August 18th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research report on Thursday.
Cisco Systems (CSCO) traded down 0.98% on Friday, reaching $33.26. The company’s stock had a trading volume of 17,905,601 shares. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $34.60. The company has a market capitalization of $164.70 billion, a price-to-earnings ratio of 17.51 and a beta of 1.21. The firm’s 50 day moving average price is $32.70 and its 200-day moving average price is $32.35.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. The business had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. On average, equities analysts predict that Cisco Systems will post $2.43 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Thursday, October 5th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.
In other news, SVP Karen Walker sold 23,110 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $740,906.60. Following the completion of the sale, the senior vice president now owns 192,774 shares of the company’s stock, valued at approximately $6,180,334.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Mark D. Chandler sold 65,000 shares of the company’s stock in a transaction on Monday, September 18th. The shares were sold at an average price of $32.43, for a total transaction of $2,107,950.00. The disclosure for this sale can be found here. Insiders have sold a total of 485,138 shares of company stock worth $15,347,574 in the last ninety days. 0.11% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in the company. CGOV Asset Management boosted its position in Cisco Systems by 7.3% during the 1st quarter. CGOV Asset Management now owns 544,815 shares of the network equipment provider’s stock valued at $24,532,000 after buying an additional 37,266 shares during the period. Evanson Asset Management LLC lifted its position in shares of Cisco Systems by 0.8% in the 1st quarter. Evanson Asset Management LLC now owns 122,865 shares of the network equipment provider’s stock worth $4,153,000 after purchasing an additional 921 shares during the period. Goldstein Munger & Associates purchased a new stake in shares of Cisco Systems in the 1st quarter worth about $426,000. Coastline Trust Co lifted its position in shares of Cisco Systems by 3.5% in the 1st quarter. Coastline Trust Co now owns 101,194 shares of the network equipment provider’s stock worth $3,420,000 after purchasing an additional 3,456 shares during the period. Finally, Patten & Patten Inc. TN lifted its position in shares of Cisco Systems by 1.8% in the 1st quarter. Patten & Patten Inc. TN now owns 259,587 shares of the network equipment provider’s stock worth $8,774,000 after purchasing an additional 4,584 shares during the period. 75.38% of the stock is owned by institutional investors.
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).
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