Vetr upgraded shares of Cisco Systems (NASDAQ:CSCO) from a hold rating to a buy rating in a report issued on Monday, November 13th. The brokerage currently has $35.49 target price on the network equipment provider’s stock.
Other equities analysts also recently issued reports about the stock. Stifel Nicolaus set a $34.00 price objective on shares of Cisco Systems and gave the company a hold rating in a 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 reiterated a buy rating and issued a $40.00 target price on shares of Cisco Systems in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Cisco Systems from a sell rating to a hold rating in a research report on Wednesday, August 16th. Finally, Bank of America reiterated a neutral rating and issued a $35.00 target price on shares of Cisco Systems in a research report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Cisco Systems presently has an average rating of Buy and a consensus price target of $36.80.
Cisco Systems (NASDAQ:CSCO) opened at $37.60 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $38.03. The stock has a market cap of $184,397.09, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 3.37 and a beta of 1.19.
In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the sale, the insider now owns 712,736 shares of the company’s stock, valued at $26,014,864. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 121,390 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the sale, the chief executive officer now directly owns 552,694 shares in the company, valued at approximately $17,719,369.64. The disclosure for this sale can be found here. Insiders sold 493,530 shares of company stock valued at $16,993,798 in the last quarter. 0.05% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. State of New Jersey Common Pension Fund D increased its stake in Cisco Systems by 0.3% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 4,475,000 shares of the network equipment provider’s stock valued at $151,255,000 after buying an additional 12,000 shares during the period. IFP Advisors Inc increased its stake in Cisco Systems by 27.0% in the 1st quarter. IFP Advisors Inc now owns 221,080 shares of the network equipment provider’s stock valued at $7,473,000 after buying an additional 47,004 shares during the period. Leavell Investment Management Inc. increased its stake in Cisco Systems by 0.4% in the 1st quarter. Leavell Investment Management Inc. now owns 68,175 shares of the network equipment provider’s stock valued at $2,304,000 after buying an additional 280 shares during the period. Taylor Cottrill Erickson & Associates Inc. increased its stake in Cisco Systems by 3.5% in the 1st quarter. Taylor Cottrill Erickson & Associates Inc. now owns 67,249 shares of the network equipment provider’s stock valued at $2,273,000 after buying an additional 2,292 shares during the period. Finally, Valicenti Advisory Services Inc. acquired a new position in Cisco Systems in the 1st quarter valued at $222,000. 75.66% of the stock is currently owned by institutional investors.
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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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