Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reissued by investment analysts at Drexel Hamilton in a report issued on Tuesday. They presently have a $40.00 target price on the network equipment provider’s stock. Drexel Hamilton’s target price points to a potential upside of 26.98% from the company’s current price.

Several other brokerages have also issued reports on CSCO. BMO Capital Markets lowered Cisco Systems from an “outperform” rating to a “market perform” rating and cut their price target for the company from $37.00 to $35.00 in a research note on Tuesday, May 9th. Vetr raised Cisco Systems from a “sell” rating to a “hold” rating and set a $34.51 price target on the stock in a research note on Monday, March 20th. Deutsche Bank AG upped their price target on Cisco Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 23rd. Sanford C. Bernstein set a $37.00 price target on Cisco Systems and gave the company a “buy” rating in a research note on Thursday, February 23rd. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have assigned a buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $35.19.

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.19% during midday trading on Tuesday, reaching $31.50. 16,403,052 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $33.09 and its 200 day moving average price is $32.06. The firm has a market capitalization of $157.50 billion, a P/E ratio of 15.99 and a beta of 1.36. Cisco Systems has a 52-week low of $27.13 and a 52-week high of $34.60.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The business had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Cisco Systems will post $2.38 EPS for the current fiscal year.

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In related news, SVP Prat Bhatt sold 15,672 shares of Cisco Systems 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 completion of the sale, 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,209 shares of company stock valued at $10,397,046. 0.11% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Cisco Systems by 2,421.0% in the first quarter. BlackRock Inc. now owns 339,316,584 shares of the network equipment provider’s stock valued at $11,468,902,000 after buying an additional 325,856,721 shares in the last quarter. Dodge & Cox bought a new position in shares of Cisco Systems during the fourth quarter valued at $1,950,935,000. Norges Bank bought a new position in shares of Cisco Systems during the fourth quarter valued at $1,306,395,000. Boston Partners boosted its position in shares of 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. Finally, Vanguard Group Inc. boosted its position in shares of Cisco Systems by 3.3% in the first quarter. Vanguard Group Inc. now owns 344,708,803 shares of the network equipment provider’s stock valued at $11,651,157,000 after buying an additional 10,974,259 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

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).

12 Month Chart for NASDAQ:CSCO

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