Cisco Systems, Inc. (NASDAQ:CSCO) released its earnings results on Wednesday. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01, Bloomberg Earnings reports. Cisco Systems had a return on equity of 16.67% and a net margin of 20.26%. The firm had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. Cisco Systems updated its Q2 guidance to $0.58-0.60 EPS.

Cisco Systems (NASDAQ:CSCO) opened at $35.88 on Friday. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $168,905.28, a PE ratio of 15.72, a PEG ratio of 2.98 and a beta of 1.15. Cisco Systems has a 1 year low of $29.12 and a 1 year high of $36.67.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.23%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.10%.

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In related news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the transaction, the insider now directly owns 729,305 shares in the company, valued at approximately $22,710,557.70. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the transaction, the chief accounting officer now owns 119,996 shares in the company, valued at $3,847,071.76. The disclosure for this sale can be found here. Insiders have sold a total of 485,138 shares of company stock worth $15,347,574 over the last quarter. Corporate insiders own 0.05% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Cisco Systems by 12.1% in the 2nd quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock worth $982,703,000 after buying an additional 3,384,768 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Cisco Systems by 11.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock worth $862,949,000 after buying an additional 2,863,474 shares during the last quarter. LSV Asset Management grew its position in shares of Cisco Systems by 0.5% in the 2nd quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock worth $859,293,000 after buying an additional 134,162 shares during the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Cisco Systems by 4.3% in the 2nd quarter. Alliancebernstein L.P. now owns 23,726,384 shares of the network equipment provider’s stock worth $742,636,000 after buying an additional 971,153 shares during the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.

Several research firms have recently weighed in on CSCO. Drexel Hamilton restated a “buy” rating and set a $39.00 price target on shares of Cisco Systems in a report on Tuesday, August 15th. Credit Suisse Group restated a “buy” rating on shares of Cisco Systems in a report on Thursday, August 10th. Deutsche Bank AG restated a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a report on Tuesday, August 8th. Robert W. Baird set a $38.00 price target on Cisco Systems and gave the stock a “buy” rating in a report on Monday, August 7th. Finally, Jefferies Group LLC restated a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $36.43.

Cisco Systems Company Profile

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 for Cisco Systems (NASDAQ:CSCO)

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