Cisco Systems, Inc. (NASDAQ:CSCO) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.59-0.61 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.60. The company issued revenue guidance of down 1-3% to ~$11.98-12.23 billion, compared to the consensus revenue estimate of $12.08 billion.

A number of brokerages recently commented on CSCO. Robert W. Baird reiterated a buy rating on shares of Cisco Systems in a report on Thursday, May 18th. Drexel Hamilton reiterated a buy rating and set a $40.00 price target on shares of Cisco Systems in a report on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $36.00 price target on shares of Cisco Systems in a report on Monday, June 26th. Piper Jaffray Companies reiterated a buy rating and set a $36.00 price target on shares of Cisco Systems in a report on Thursday. Finally, Jefferies Group LLC reiterated a buy rating and set a $37.00 price target on shares of Cisco Systems in a report on Wednesday, April 26th. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $35.38.

Shares of Cisco Systems, Inc. (CSCO) opened at 32.34 on Thursday. The company has a 50 day moving average price of $31.54 and a 200 day moving average price of $32.57. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. The stock has a market cap of $161.70 billion, a P/E ratio of 16.42 and a beta of 1.24. Cisco Systems also saw unusually large options trading activity on Tuesday. Stock investors bought 24,568 put options on the company. This is an increase of approximately 223% compared to the average daily volume of 7,606 put options.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. The company 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 20.61% and a return on equity of 17.31%. Cisco Systems’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post $2.38 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 58.29%.

In related news, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total value of $9,315,326.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the transaction, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. Insiders sold 396,179 shares of company stock valued at $12,503,407 in the last three months. 0.11% of the stock is currently owned by insiders.

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Institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its position in Cisco Systems by 3.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 766,065 shares of the network equipment provider’s stock valued at $23,979,000 after buying an additional 24,593 shares in the last quarter. Benchmark Capital Advisors purchased a new position in Cisco Systems during the second quarter valued at about $714,000. Clal Insurance Enterprises Holdings Ltd raised its position in Cisco Systems by 24.9% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 94,675 shares of the network equipment provider’s stock valued at $2,963,000 after buying an additional 18,875 shares in the last quarter. Providence First Trust Co purchased a new position in Cisco Systems during the second quarter valued at about $1,679,000. Finally, Delta Lloyd Asset Management N.V. purchased a new position in Cisco Systems during the second quarter valued at about $57,023,000. 75.28% of the stock is currently owned by institutional investors and hedge funds.

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).

Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

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