Royal Bank Of Canada reiterated their buy rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a research report sent to investors on Wednesday morning. They currently have a $36.00 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 objective on shares of Cisco Systems and gave the company a hold rating in a research note on Tuesday, August 15th. JMP Securities reiterated a market perform rating on shares of Cisco Systems in a research note on Friday, August 18th. Deutsche Bank AG reiterated a buy rating and issued a $40.00 price objective on shares of Cisco Systems in a research note on Tuesday, August 8th. Vetr cut shares of Cisco Systems from a buy rating to a hold rating and set a $33.18 price objective for the company. in a research note on Wednesday, August 16th. Finally, BidaskClub upgraded shares of Cisco Systems from a sell rating to a hold rating in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have issued a buy rating to the stock. Cisco Systems presently has an average rating of Buy and a consensus price target of $36.67.
Shares of Cisco Systems (NASDAQ CSCO) traded up $0.02 during trading hours on Wednesday, hitting $35.90. 27,579,245 shares of the stock traded hands, compared to its average volume of 20,211,973. The stock has a market capitalization of $177,670.00, a P/E ratio of 15.69, a price-to-earnings-growth ratio of 2.98 and a beta of 1.15. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $36.67.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The business had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. sell-side analysts forecast that Cisco Systems will post 2.18 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.23%. Cisco Systems’s payout ratio is currently 60.10%.
In other news, SVP Karen Walker sold 23,110 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $740,906.60. Following the transaction, the senior vice president now directly owns 192,774 shares of the company’s stock, valued at $6,180,334.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Mark D. Chandler sold 65,000 shares of the business’s stock in a transaction on Monday, September 18th. The stock was 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. Over the last three months, insiders have sold 485,138 shares of company stock worth $15,347,574. Corporate insiders own 0.05% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Eads & Heald Investment Counsel raised its holdings in Cisco Systems by 15.7% in the second quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock valued at $1,329,000 after acquiring an additional 5,765 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in Cisco Systems by 10.4% in the second quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock valued at $4,789,000 after acquiring an additional 14,395 shares in the last quarter. Washington Trust Bank raised its holdings in Cisco Systems by 2.5% in the second quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock valued at $3,542,000 after acquiring an additional 2,726 shares in the last quarter. Holderness Investments Co. raised its holdings in Cisco Systems by 12.1% in the first quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock valued at $2,256,000 after acquiring an additional 7,186 shares in the last quarter. Finally, Pioneer Investment Management Inc. raised its holdings in Cisco Systems by 5.2% in the first quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock valued at $279,146,000 after acquiring an additional 408,875 shares in the last quarter. 75.22% 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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