Cisco Systems, Inc. (CSCO) Lifted to Hold at Vetr Inc.
Cisco Systems, Inc. (NASDAQ:CSCO) was upgraded by investment analysts at Vetr from a “sell” rating to a “hold” rating in a research note issued to investors on Monday. The firm presently has a $34.51 price objective on the network equipment provider’s stock. Vetr‘s target price would suggest a potential upside of 0.67% from the company’s current price.
Other equities analysts have also recently issued reports about the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Cisco Systems in a report on Thursday, February 16th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a report on Tuesday, December 6th. Jefferies Group LLC lifted their price objective on Cisco Systems from $33.30 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 16th. Drexel Hamilton reaffirmed a “buy” rating and issued a $36.00 price objective (down from $37.00) on shares of Cisco Systems in a report on Tuesday, December 6th. Finally, Wunderlich reaffirmed a “hold” rating and issued a $27.00 price objective on shares of Cisco Systems in a report on Thursday, February 16th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty have issued a buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and an average target price of $33.97.
Cisco Systems (NASDAQ:CSCO) traded up 0.15% during trading on Monday, reaching $34.28. The company had a trading volume of 14,974,096 shares. The firm’s 50 day moving average price is $33.05 and its 200 day moving average price is $31.26. The firm has a market capitalization of $171.67 billion, a PE ratio of 17.67 and a beta of 1.36. Cisco Systems has a 12-month low of $25.81 and a 12-month high of $34.53.
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Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 15th. The network equipment provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.01. The firm earned $11.60 billion during the quarter, compared to analysts’ expectations of $11.55 billion. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. During the same period in the previous year, the firm earned $0.57 EPS. Analysts anticipate that Cisco Systems will post $2.38 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Investors of record on Thursday, April 6th will be given a dividend of $0.29 per share. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, April 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.38%. Cisco Systems’s dividend payout ratio is presently 49.52%.
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In related news, SVP Prat Bhatt sold 15,672 shares of the company’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $34.27, for a total transaction of $537,079.44. Following the transaction, the senior vice president now directly owns 77,174 shares of the company’s stock, valued at approximately $2,644,752.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Karen Walker sold 1,793 shares of the company’s stock in a transaction that occurred on Friday, December 23rd. The stock was sold at an average price of $30.41, for a total value of $54,525.13. Following the transaction, the senior vice president now directly owns 183,275 shares in the company, valued at $5,573,392.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 373,600 shares of company stock worth $12,723,418. 0.11% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Dodge & Cox purchased a new position in Cisco Systems during the fourth quarter worth $1,950,935,000. Norges Bank purchased a new position in Cisco Systems during the fourth quarter worth $1,314,651,000. Bank of New York Mellon Corp increased its position in Cisco Systems by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 123,367,471 shares of the network equipment provider’s stock worth $3,913,216,000 after buying an additional 10,435,264 shares during the period. Emerald Acquisition Ltd. purchased a new position in Cisco Systems during the second quarter worth $247,452,000. Finally, Asset Management One Co. Ltd. increased its position in Cisco Systems by 1,032.7% in the fourth quarter. Asset Management One Co. Ltd. now owns 8,822,459 shares of the network equipment provider’s stock worth $266,816,000 after buying an additional 8,043,558 shares during the period. 75.24% 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).
To view Vetr’s full report, visit Vetr’s official website.
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