Vetr upgraded shares of Cisco Systems, Inc. (NASDAQ:CSCO) from a hold rating to a buy rating in a report published on Monday morning. The brokerage currently has $35.49 price objective on the network equipment provider’s stock.
Other analysts have also recently issued research reports about the stock. Stifel Nicolaus set a $34.00 price target on shares of Cisco Systems and gave the stock a hold rating in a research report on Tuesday, August 15th. JMP Securities reaffirmed a market perform rating on shares of Cisco Systems in a report on Friday, August 18th. Deutsche Bank AG reaffirmed a buy rating and issued a $40.00 target price on shares of Cisco Systems in a report on Tuesday, August 8th. BidaskClub raised shares of Cisco Systems from a sell rating to a hold rating in a report on Wednesday, August 16th. Finally, Bank of America Corporation reaffirmed a neutral rating and issued a $35.00 target price on shares of Cisco Systems in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and twenty-two have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $36.67.
Shares of Cisco Systems (NASDAQ CSCO) traded up $0.14 on Monday, hitting $36.02. 13,874,781 shares of the stock traded hands, compared to its average volume of 20,176,957. The firm has a market capitalization of $178,640.00, a PE ratio of 15.72, a PEG ratio of 2.98 and a beta of 1.15. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $36.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.03 and a quick ratio of 2.98.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.67%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share. equities research analysts forecast that Cisco Systems will post 2.18 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date was Wednesday, October 4th. Cisco Systems’s dividend payout ratio is presently 60.10%.
In other Cisco Systems news, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John T. Chambers sold 250,000 shares of Cisco Systems 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 sale, the insider now owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 485,138 shares of company stock valued at $15,347,574. 0.05% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Vantage Financial Partners Ltd. Inc. purchased a new stake in Cisco Systems in the 2nd quarter valued at about $231,000. Barnett & Company Inc. grew its holdings in 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 valued at $101,000 after buying an additional 3,023 shares during the period. Tortoise Investment Management LLC grew its holdings in Cisco Systems by 36.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in Cisco Systems in the 2nd quarter valued at about $104,000. Finally, Manchester Capital Management LLC grew its holdings in Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares during the period. Institutional investors own 75.22% 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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