Vetr upgraded shares of Cisco Systems Inc. (NASDAQ:CSCO) from a buy rating to a strong-buy rating in a report released on Monday morning. The brokerage currently has $35.44 price target on the network equipment provider’s stock.

A number of other equities analysts have also recently commented on CSCO. Drexel Hamilton reiterated a buy rating and issued a $36.00 target price on shares of Cisco Systems in a research report on Wednesday, June 15th. Cowen and Company reiterated a buy rating on shares of Cisco Systems in a research report on Wednesday, June 15th. Oppenheimer Holdings Inc. reiterated a buy rating and issued a $30.00 target price on shares of Cisco Systems in a research report on Monday, June 6th. Piper Jaffray Cos. boosted their price objective on shares of Cisco Systems from $30.00 to $34.00 and gave the company an overweight rating in a research report on Thursday, August 18th. Finally, Wunderlich restated a hold rating and issued a $27.00 price objective on shares of Cisco Systems in a research report on Thursday, August 18th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Cisco Systems presently has a consensus rating of Buy and an average price target of $32.50.

Cisco Systems (NASDAQ:CSCO) opened at 31.50 on Monday. The stock’s 50 day moving average is $31.26 and its 200-day moving average is $29.35. The company has a market cap of $157.95 billion, a PE ratio of 14.93 and a beta of 1.48. Cisco Systems has a 52-week low of $22.46 and a 52-week high of $31.95.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.57 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.59 EPS. Equities research analysts predict that Cisco Systems will post $2.43 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Monday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is 49.06%.

In other news, SVP Mark D. Chandler sold 62,910 shares of the firm’s stock in a transaction dated Friday, September 23rd. The shares were sold at an average price of $31.40, for a total value of $1,975,374.00. Following the sale, the senior vice president now directly owns 286,628 shares in the company, valued at approximately $9,000,119.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carol Bartz sold 15,000 shares of the firm’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $31.25, for a total transaction of $468,750.00. Following the completion of the sale, the director now owns 23,104 shares in the company, valued at $722,000. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CSCO. Campbell Newman Asset Management Inc. boosted its stake in Cisco Systems by 47.4% in the first quarter. Campbell Newman Asset Management Inc. now owns 502,699 shares of the network equipment provider’s stock worth $14,312,000 after buying an additional 161,552 shares during the period. TNB Financial boosted its stake in Cisco Systems by 7.3% in the first quarter. TNB Financial now owns 18,732 shares of the network equipment provider’s stock worth $533,000 after buying an additional 1,273 shares during the period. Koshinski Asset Management Inc. boosted its stake in Cisco Systems by 4.7% in the first quarter. Koshinski Asset Management Inc. now owns 36,314 shares of the network equipment provider’s stock worth $1,034,000 after buying an additional 1,631 shares during the period. Burke & Herbert Bank & Trust Co. boosted its stake in Cisco Systems by 0.9% in the first quarter. Burke & Herbert Bank & Trust Co. now owns 27,356 shares of the network equipment provider’s stock worth $779,000 after buying an additional 241 shares during the period. Finally, Gierl Augustine Investment Management Inc boosted its stake in Cisco Systems by 49.3% in the first quarter. Gierl Augustine Investment Management Inc now owns 16,702 shares of the network equipment provider’s stock worth $476,000 after buying an additional 5,516 shares during the period. Institutional investors and hedge funds own 75.00% of the company’s stock.

About Cisco Systems

Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

5 Day Chart for NASDAQ:CSCO

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