Brokerages Set Cisco Systems, Inc. (CSCO) PT at $35.47
Cisco Systems, Inc. (NASDAQ:CSCO) has been assigned an average rating of “Buy” from the thirty-four analysts that are currently covering the company, Marketbeat.com reports. Fourteen analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $35.59.
A number of equities research analysts recently weighed in on the stock. 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 objective 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 objective 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 objective on shares of Cisco Systems in a report on Thursday. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $37.00 price objective on shares of Cisco Systems in a report on Wednesday, April 26th.
In related news, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the transaction, the senior vice president now directly owns 271,725 shares in the company, valued at approximately $8,616,399.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 396,179 shares of company stock valued at $12,503,407. Company insiders own 0.11% of the company’s stock.
Several institutional investors have recently bought and sold shares of CSCO. Dodge & Cox purchased a new position in Cisco Systems during the fourth quarter valued at about $1,950,935,000. Norges Bank purchased a new position in Cisco Systems during the fourth quarter valued at about $1,306,395,000. Boston Partners boosted its position in Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after buying an additional 23,002,159 shares in the last quarter. Vanguard Group Inc. boosted its position in Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock valued at $11,021,378,000 after buying an additional 7,411,891 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Cisco Systems by 54.2% in the second quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock valued at $449,544,000 after buying an additional 5,049,326 shares in the last quarter. Hedge funds and other institutional investors own 75.28% of the company’s stock.
Shares of Cisco Systems (NASDAQ CSCO) traded up 1.05% during trading on Friday, hitting $30.69. 13,394,795 shares of the company traded hands. The company has a market capitalization of $153.24 billion, a price-to-earnings ratio of 16.15 and a beta of 1.24. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $34.60. The company has a 50 day moving average price of $31.48 and a 200 day moving average price of $32.55.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same quarter last year, the business posted $0.63 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts expect that Cisco Systems will post $2.43 earnings per share for the current year.
The company also recently announced 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 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s dividend payout ratio is currently 60.73%.
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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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