Cowen and Company reiterated their buy rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a research report released on Friday morning. They currently have a $38.00 price objective on the network equipment provider’s stock.
Several other brokerages have also recently weighed in on CSCO. BMO Capital Markets reissued a hold rating and issued a $32.00 price objective on shares of Cisco Systems in a research note on Monday, October 23rd. Berenberg Bank reissued a hold rating and issued a $33.00 price objective on shares of Cisco Systems in a research note on Tuesday, October 24th. Needham & Company LLC reissued a hold rating on shares of Cisco Systems in a research note on Tuesday, October 24th. Oppenheimer Holdings, Inc. reissued a buy rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Tuesday, October 31st. Finally, Credit Suisse Group reissued a hold rating and issued a $35.00 price objective on shares of Cisco Systems in a research note on Friday, October 6th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have given a buy rating to the company. Cisco Systems presently has an average rating of Buy and a consensus price target of $35.26.
Shares of Cisco Systems (NASDAQ:CSCO) traded up $0.26 on Friday, reaching $34.47. 13,293,171 shares of the company’s stock traded hands, compared to its average volume of 15,952,130. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $34.75. The firm has a market capitalization of $170,687.94, a P/E ratio of 15.88, a P/E/G ratio of 3.01 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 (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the consensus estimate of $0.61. The business had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company’s revenue was down 4.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 earnings per share. equities analysts expect that Cisco Systems will post 2.18 earnings per share for the current year.
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The business 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Wednesday, October 4th. Cisco Systems’s dividend payout ratio is currently 60.73%.
In related news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Mark D. Chandler sold 65,000 shares of the firm’s stock in a transaction that occurred 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. Insiders have sold a total of 485,138 shares of company stock valued at $15,347,574 over the last three months. Insiders own 0.05% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Cisco Systems by 2.2% in the 2nd 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. Nordea Investment Management AB boosted its holdings in Cisco Systems by 12.1% in the 2nd quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock worth $982,703,000 after buying an additional 3,384,768 shares during the period. Boston Partners boosted its holdings in Cisco Systems by 304.2% in the 1st 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. TIAA CREF Investment Management LLC boosted its holdings in Cisco Systems by 11.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock worth $862,949,000 after buying an additional 2,863,474 shares during the period. Finally, LSV Asset Management boosted its holdings in Cisco Systems by 0.5% in the 2nd quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock valued at $859,293,000 after purchasing an additional 134,162 shares during the period. 75.24% of the stock is owned by 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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