Cisco Systems, Inc. (CSCO) Given “Overweight” Rating at Morgan Stanley

Morgan Stanley reiterated their overweight rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a research report released on Thursday morning. They currently have a $39.00 price objective on the network equipment provider’s stock.

“ho-hum,” Morgan Stanley’s analyst wrote.

Several other research firms have also recently weighed in on CSCO. BMO Capital Markets cut shares of Cisco Systems from an outperform rating to a market perform rating and lowered their price objective for the company from $37.00 to $35.00 in a research report on Tuesday, May 9th. Drexel Hamilton restated a buy rating and set a $40.00 price objective on shares of Cisco Systems in a research report on Tuesday, May 16th. Robert W. Baird restated a buy rating on shares of Cisco Systems in a research report on Monday, May 1st. Royal Bank Of Canada restated an outperform rating and set a $36.00 price objective (down previously from $37.00) on shares of Cisco Systems in a research report on Thursday, May 18th. Finally, Zacks Investment Research cut shares of Cisco Systems from a hold rating to a sell rating in a research report on Monday, May 15th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $35.38.

Shares of Cisco Systems (NASDAQ:CSCO) traded down 1.517% on Thursday, reaching $30.569. 23,993,044 shares of the company’s stock traded hands. Cisco Systems has a one year low of $29.12 and a one year high of $34.60. The firm has a market cap of $152.63 billion, a P/E ratio of 16.089 and a beta of 1.24. The company’s 50-day moving average price is $31.51 and its 200 day moving average price is $32.56. Cisco Systems also was the recipient of some unusual options trading activity on Tuesday. Traders acquired 24,568 put options on the stock. This represents an increase of approximately 223% compared to the typical daily volume of 7,606 put options.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 17.04%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter last year, the company posted $0.63 EPS. On average, equities analysts forecast that Cisco Systems will post $2.45 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. Shareholders of record on Friday, July 7th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, July 5th. This represents a $1.16 annualized dividend and a yield of 3.74%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.

In other news, SVP Rebecca Jacoby sold 92,840 shares of the business’s 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 $8,616,399.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Karen Walker sold 7,802 shares of the business’s 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. Insiders have sold 396,179 shares of company stock valued at $12,503,407 over the last three months. 0.11% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Southeast Asset Advisors Inc. boosted its stake in shares of Cisco Systems by 0.5% in the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock worth $312,000 after buying an additional 44 shares in the last quarter. Opes Advisors Inc boosted its stake in shares of Cisco Systems by 0.6% in the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock worth $236,000 after buying an additional 44 shares in the last quarter. Leisure Capital Management boosted its stake in shares of Cisco Systems by 0.6% in the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock worth $233,000 after buying an additional 48 shares in the last quarter. Ronald Blue & Co. LLC boosted its stake in shares of Cisco Systems by 0.3% in the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock worth $561,000 after buying an additional 57 shares in the last quarter. Finally, Banced Corp boosted its stake in shares of Cisco Systems by 0.4% in the second quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock worth $442,000 after buying an additional 59 shares in the last quarter. 75.28% of the stock is owned by hedge funds and other institutional investors.

About Cisco Systems

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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