Cisco Systems (NASDAQ:CSCO) Receives Market Perform Rating from William Blair
William Blair reissued their market perform rating on shares of Cisco Systems (NASDAQ:CSCO) in a research report report published on Thursday, RTT News reports.
A number of other brokerages also recently commented on CSCO. Zacks Investment Research raised Cisco Systems from a sell rating to a hold rating and set a $50.00 price objective for the company in a research report on Wednesday, January 15th. UBS Group reissued a buy rating and set a $54.00 price objective (down from $58.00) on shares of Cisco Systems in a research report on Thursday, November 14th. BidaskClub raised Cisco Systems from a sell rating to a hold rating in a research report on Thursday. Bank of America downgraded Cisco Systems from a buy rating to a neutral rating in a research report on Wednesday, January 8th. Finally, Piper Jaffray Companies downgraded Cisco Systems from an overweight rating to a neutral rating and lowered their price objective for the stock from $55.00 to $51.00 in a research report on Monday, November 11th. Twelve analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Cisco Systems presently has a consensus rating of Buy and a consensus target price of $54.41.
NASDAQ CSCO traded down $0.35 during trading on Thursday, hitting $46.97. The stock had a trading volume of 26,733,355 shares, compared to its average volume of 19,355,203. The company has a market capitalization of $207.32 billion, a PE ratio of 18.71, a PEG ratio of 2.84 and a beta of 1.22. The company has a quick ratio of 1.64, a current ratio of 1.70 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average price of $47.95 and a 200 day moving average price of $47.89. Cisco Systems has a twelve month low of $43.40 and a twelve month high of $58.26.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Investors of record on Friday, April 3rd will be paid a dividend of $0.36 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.35. The ex-dividend date is Thursday, April 2nd. This represents a $1.44 annualized dividend and a yield of 3.07%. Cisco Systems’s payout ratio is presently 49.12%.
In related news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the completion of the sale, the chief financial officer now owns 352,587 shares in the company, valued at $15,933,406.53. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Prat Bhatt sold 39,343 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $44.88, for a total value of $1,765,713.84. Following the sale, the chief accounting officer now owns 137,634 shares of the company’s stock, valued at approximately $6,177,013.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 388,864 shares of company stock valued at $17,474,321. 0.03% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Permanens Capital L.P. purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $31,000. Emerald Advisers LLC purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $38,000. Sageworth Trust Co lifted its stake in Cisco Systems by 59.5% in the fourth quarter. Sageworth Trust Co now owns 804 shares of the network equipment provider’s stock valued at $39,000 after buying an additional 300 shares during the last quarter. Robecosam AG lifted its stake in Cisco Systems by 4.0% in the fourth quarter. Robecosam AG now owns 357,920 shares of the network equipment provider’s stock valued at $48,000 after buying an additional 13,621 shares during the last quarter. Finally, Cordasco Financial Network lifted its stake in Cisco Systems by 78.4% in the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after buying an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 72.57% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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