Equities researchers at Stifel Nicolaus initiated coverage on shares of Cisco Systems Inc. (NASDAQ:CSCO) in a research note issued to investors on Friday. The brokerage set a “hold” rating and a $34.00 price target on the network equipment provider’s stock. Stifel Nicolaus’ price objective indicates a potential upside of 13.14% from the stock’s previous close.

Several other equities research analysts also recently commented on the stock. Barclays PLC lifted their price objective on shares of Cisco Systems from $31.00 to $34.00 and gave the stock an “overweight” rating in a research note on Monday, August 15th. Drexel Hamilton reiterated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research note on Tuesday, August 16th. Wells Fargo & Co. reiterated an “outperform” rating and set a $36.50 price objective (up from $34.00) on shares of Cisco Systems in a research note on Monday, September 19th. Jefferies Group reiterated a “buy” rating and set a $35.00 price objective on shares of Cisco Systems in a research note on Monday, August 29th. Finally, Credit Suisse Group AG restated a “sell” rating and set a $24.00 target price on shares of Cisco Systems in a research report on Thursday, August 11th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $32.73.

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Shares of Cisco Systems (NASDAQ:CSCO) opened at 30.05 on Friday. The stock has a market cap of $151.06 billion, a price-to-earnings ratio of 14.38 and a beta of 1.42. The firm has a 50-day moving average price of $30.75 and a 200-day moving average price of $30.04. Cisco Systems has a 52 week low of $22.46 and a 52 week high of $31.95.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.02. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.34 billion. During the same period in the previous year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was down 2.6% on a year-over-year basis. On average, equities analysts anticipate that Cisco Systems will post $2.39 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.46%. The ex-dividend date was Monday, October 3rd. Cisco Systems’s payout ratio is currently 49.52%.

In other news, Director M Michele Burns sold 15,000 shares of the firm’s stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of $31.09, for a total value of $466,350.00. Following the completion of the sale, the director now owns 90,087 shares in the company, valued at approximately $2,800,804.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 148,800 shares of the firm’s stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $31.01, for a total transaction of $4,614,288.00. Following the completion of the sale, the chief executive officer now owns 629,813 shares of the company’s stock, valued at approximately $19,530,501.13. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. VNBTrust National Association boosted its stake in Cisco Systems by 0.3% in the third quarter. VNBTrust National Association now owns 7,010 shares of the network equipment provider’s stock valued at $222,000 after buying an additional 20 shares during the period. Mercer Capital Advisers Inc. boosted its stake in Cisco Systems by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock valued at $137,000 after buying an additional 35 shares during the period. Ironwood Investment Management LLC boosted its stake in Cisco Systems by 0.3% in the third quarter. Ironwood Investment Management LLC now owns 13,894 shares of the network equipment provider’s stock valued at $441,000 after buying an additional 36 shares during the period. Blume Capital Management Inc. boosted its stake in Cisco Systems by 0.4% in the third quarter. Blume Capital Management Inc. now owns 10,708 shares of the network equipment provider’s stock valued at $340,000 after buying an additional 43 shares during the period. Finally, Partnervest Advisory Services LLC boosted its stake in Cisco Systems by 0.6% in the third quarter. Partnervest Advisory Services LLC now owns 11,782 shares of the network equipment provider’s stock valued at $374,000 after buying an additional 74 shares during the period. Institutional investors own 75.09% of the company’s stock.

Cisco Systems Company Profile

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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