Cisco Systems Inc. (CSCO) Rating Reiterated by JMP Securities
Cisco Systems Inc. (NASDAQ:CSCO)‘s stock had its “market perform” rating reissued by investment analysts at JMP Securities in a note issued to investors on Wednesday.
A number of other equities research analysts have also commented on the stock. Barclays PLC raised their price objective on shares of Cisco Systems from $31.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, August 15th. Drexel Hamilton restated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a report on Tuesday, August 16th. Argus restated a “buy” rating and set a $34.00 price objective on shares of Cisco Systems in a report on Thursday, July 7th. Wells Fargo & Co. restated an “outperform” rating and set a $36.50 price objective (up from $34.00) on shares of Cisco Systems in a report on Monday, September 19th. Finally, Jefferies Group restated a “buy” rating and set a $35.00 price objective on shares of Cisco Systems in a report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $32.50.
Shares of Cisco Systems (NASDAQ:CSCO) opened at 31.48 on Wednesday. The firm’s 50-day moving average is $31.30 and its 200-day moving average is $29.40. Cisco Systems has a 12-month low of $22.46 and a 12-month high of $31.95. The company has a market capitalization of $157.85 billion, a PE ratio of 14.92 and a beta of 1.49.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share 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 business’s quarterly revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. On average, equities research analysts anticipate that Cisco Systems will post $2.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 3.30%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.06%.
In related 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 transaction of $1,975,374.00. Following the completion of the sale, the senior vice president now owns 286,628 shares in the company, valued at $9,000,119.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John T. Chambers sold 541,666 shares of the firm’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $31.08, for a total transaction of $16,834,979.28. Following the sale, the insider now owns 2,008,697 shares of the company’s stock, valued at approximately $62,430,302.76. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.
A number of hedge funds have recently bought and sold shares of CSCO. Riggs Asset Managment Co. Inc. increased its stake in Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock worth $102,000 after buying an additional 225 shares during the period. Lenox Wealth Management Inc. increased its stake in Cisco Systems by 35.0% in the second quarter. Lenox Wealth Management Inc. now owns 3,835 shares of the network equipment provider’s stock worth $110,000 after buying an additional 995 shares during the period. Global X Management Co. LLC increased its stake in Cisco Systems by 101.9% in the second quarter. Global X Management Co. LLC now owns 4,244 shares of the network equipment provider’s stock worth $122,000 after buying an additional 2,142 shares during the period. Financial Management Professionals Inc. increased its stake in Cisco Systems by 25.7% in the second quarter. Financial Management Professionals Inc. now owns 4,389 shares of the network equipment provider’s stock worth $125,000 after buying an additional 896 shares during the period. Finally, West Oak Capital LLC increased its stake in Cisco Systems by 19.1% in the third quarter. West Oak Capital LLC now owns 4,052 shares of the network equipment provider’s stock worth $129,000 after buying an additional 651 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.
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