Drexel Hamilton reissued their buy rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a report published on Tuesday morning. Drexel Hamilton currently has a $39.00 target price on the network equipment provider’s stock.
Other equities research analysts also recently issued research reports about the stock. BMO Capital Markets downgraded shares of Cisco Systems from an outperform rating to a market perform rating and decreased their price target for the company from $37.00 to $35.00 in a research note on Tuesday, May 9th. Robert W. Baird reaffirmed a buy rating on shares of Cisco Systems in a research note on Monday, May 1st. Royal Bank Of Canada reaffirmed an outperform rating and set a $36.00 price target (down previously from $37.00) on shares of Cisco Systems in a research note on Thursday, May 18th. Zacks Investment Research downgraded shares of Cisco Systems from a hold rating to a sell rating in a research note on Monday, May 15th. Finally, Morgan Stanley raised shares of Cisco Systems from an equal weight rating to an overweight rating and upped their price target for the company from $33.45 to $39.00 in a research note on Monday, May 15th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Cisco Systems presently has a consensus rating of Buy and a consensus target price of $35.46.
Cisco Systems (NASDAQ CSCO) opened at 30.37 on Tuesday. The firm has a 50-day moving average of $31.48 and a 200 day moving average of $32.55. The company has a market capitalization of $151.64 billion, a P/E ratio of 15.98 and a beta of 1.24. Cisco Systems has a one year low of $29.12 and a one year high of $34.60.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. Cisco Systems’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, equities analysts forecast that Cisco Systems will post $2.43 EPS for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 60.73%.
In other news, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 14th. The shares were 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 directly owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Karen Walker sold 7,802 shares of Cisco Systems stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the transaction, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at $5,587,674.33. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 396,179 shares of company stock valued at $12,503,407. Insiders own 0.11% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Willis Investment Counsel boosted its stake in Cisco Systems by 31.5% in the fourth quarter. Willis Investment Counsel now owns 943,417 shares of the network equipment provider’s stock worth $28,510,000 after buying an additional 225,985 shares in the last quarter. Jarislowsky Fraser Ltd boosted its stake in Cisco Systems by 1.2% in the fourth quarter. Jarislowsky Fraser Ltd now owns 65,839 shares of the network equipment provider’s stock worth $1,989,000 after buying an additional 801 shares in the last quarter. Hanlon Investment Management Inc. bought a new stake in Cisco Systems during the fourth quarter worth about $2,830,000. Advantage Investment Management LLC bought a new stake in Cisco Systems during the fourth quarter worth about $216,000. Finally, Pittenger & Anderson Inc. boosted its stake in Cisco Systems by 0.4% in the fourth quarter. Pittenger & Anderson Inc. now owns 245,430 shares of the network equipment provider’s stock worth $7,417,000 after buying an additional 1,015 shares in the last quarter. 75.28% of the stock is currently owned by hedge funds and other 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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