Cisco Systems, Inc. (NASDAQ:CSCO) was upgraded by equities research analysts at Vetr from a “sell” rating to a “hold” rating in a report issued on Monday. The brokerage currently has a $34.51 price target on the network equipment provider’s stock. Vetr‘s price target indicates a potential upside of 0.67% from the company’s current price.
Several other research analysts also recently weighed in on the company. Oppenheimer Holdings Inc. set a $34.00 price target on Cisco Systems and gave the stock a “buy” rating in a research note on Tuesday, January 24th. Zacks Investment Research upgraded Cisco Systems from a “sell” rating to a “hold” rating in a research note on Monday, February 20th. Goldman Sachs Group Inc restated a “neutral” rating and issued a $32.00 price target on shares of Cisco Systems in a research note on Thursday, December 29th. Wells Fargo & Co restated an “overweight” rating on shares of Cisco Systems in a research note on Saturday, January 28th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $33.00 price target on shares of Cisco Systems in a research note on Saturday, January 28th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $33.97.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.15% on Monday, hitting $34.28. 14,974,096 shares of the stock traded hands. The firm has a market cap of $171.67 billion, a PE ratio of 17.67 and a beta of 1.36. Cisco Systems has a 52-week low of $25.81 and a 52-week high of $34.53. The firm has a 50 day moving average price of $33.05 and a 200 day moving average price of $31.26.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 15th. The network equipment provider reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The business earned $11.60 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same period in the prior year, the company posted $0.57 EPS. On average, equities analysts forecast that Cisco Systems will post $2.38 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Thursday, April 6th will be given a dividend of $0.29 per share. The ex-dividend date is Tuesday, April 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.38%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.26. Cisco Systems’s dividend payout ratio (DPR) is presently 49.52%.
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In related news, SVP Karen Walker sold 1,793 shares of the firm’s stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $30.41, for a total transaction of $54,525.13. Following the sale, the senior vice president now owns 183,275 shares of the company’s stock, valued at $5,573,392.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mark D. Chandler sold 16,000 shares of the firm’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $34.04, for a total value of $544,640.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 373,600 shares of company stock worth $12,723,418. 0.11% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the stock. State Street Corp increased its stake in shares of Cisco Systems by 2.8% in the fourth quarter. State Street Corp now owns 218,577,771 shares of the network equipment provider’s stock worth $6,605,412,000 after buying an additional 5,886,055 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Cisco Systems by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 123,367,471 shares of the network equipment provider’s stock worth $3,913,216,000 after buying an additional 10,435,264 shares during the last quarter. FMR LLC increased its stake in shares of Cisco Systems by 1.4% in the fourth quarter. FMR LLC now owns 104,252,187 shares of the network equipment provider’s stock worth $3,150,500,000 after buying an additional 1,462,365 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Cisco Systems by 5.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 69,860,968 shares of the network equipment provider’s stock worth $2,215,990,000 after buying an additional 3,555,286 shares during the last quarter. Finally, Northern Trust Corp increased its stake in shares of Cisco Systems by 1.1% in the third quarter. Northern Trust Corp now owns 66,252,626 shares of the network equipment provider’s stock worth $2,101,533,000 after buying an additional 735,340 shares during the last quarter. 75.24% of the stock is currently 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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