Sanford C. Bernstein reissued their outperform rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a report issued on Sunday morning. They currently have a $38.00 target price on the network equipment provider’s stock.
A number of other equities research analysts have also weighed in on the company. Zacks Investment Research upgraded Cisco Systems from a sell rating to a hold rating in a research report on Tuesday, July 18th. Morgan Stanley upgraded Cisco Systems from an equal weight rating to an overweight rating and raised their target price for the company from $33.45 to $39.00 in a research note on Monday, May 15th. Credit Suisse Group upgraded Cisco Systems from an underperform rating to an outperform rating and raised their target price for the company from $27.00 to $40.00 in a research note on Thursday, April 27th. Barclays PLC restated an overweight rating on shares of Cisco Systems in a research note on Saturday, April 22nd. Finally, William Blair restated an outperform rating on shares of Cisco Systems in a research note on Monday, July 3rd. Fourteen investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $35.47.
Cisco Systems (NASDAQ CSCO) opened at 31.27 on Friday. The firm has a market capitalization of $156.13 billion, a price-to-earnings ratio of 16.46 and a beta of 1.24. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $34.60. The firm has a 50-day moving average price of $31.46 and a 200 day moving average price of $32.58.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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. The firm had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. On average, equities research analysts forecast that Cisco Systems will post $2.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were given a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.71%. Cisco Systems’s payout ratio is 60.73%.
In related news, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the sale, the senior vice president now directly owns 271,725 shares in the company, valued at $8,616,399.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total value of $244,124.58. Following the completion of the sale, the senior vice president now owns 178,577 shares in the company, valued at $5,587,674.33. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the company. Dodge & Cox bought a new stake in shares of Cisco Systems during the fourth quarter worth about $1,950,935,000. Norges Bank bought a new stake in shares of Cisco Systems during the fourth quarter worth about $1,306,395,000. Boston Partners increased its stake in shares of Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock worth $1,033,052,000 after buying an additional 23,002,159 shares during the period. Vanguard Group Inc. increased its stake in shares of Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of Cisco Systems by 54.2% in the second quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock worth $449,544,000 after buying an additional 5,049,326 shares during the period. Institutional investors own 75.28% 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).
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