Cisco Systems, Inc. (CSCO) Lifted to Buy at BidaskClub
Cisco Systems, Inc. (NASDAQ:CSCO) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
A number of other equities analysts have also recently commented on CSCO. Vetr upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $33.20 target price for the company in a report on Thursday, March 9th. Jefferies Group LLC reiterated a “buy” rating on shares of Cisco Systems in a report on Tuesday, March 21st. Deutsche Bank AG lifted their target price on Cisco Systems from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 23rd. Berenberg Bank initiated coverage on Cisco Systems in a report on Tuesday, April 4th. They issued a “hold” rating and a $35.00 target price for the company. Finally, Cowen and Company reiterated an “outperform” rating and issued a $39.00 target price on shares of Cisco Systems in a report on Thursday, April 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have assigned a buy rating to the stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus target price of $35.25.
Shares of Cisco Systems (NASDAQ CSCO) traded up 1.01% during midday trading on Wednesday, hitting $32.08. The stock had a trading volume of 17,731,619 shares. The firm has a market cap of $160.40 billion, a price-to-earnings ratio of 16.28 and a beta of 1.23. Cisco Systems has a 12 month low of $27.13 and a 12 month high of $34.60. The stock’s 50 day moving average price is $32.44 and its 200 day moving average price is $32.24. Cisco Systems also was the recipient of unusually large options trading on Tuesday. Investors bought 38,236 call options on the company. This represents an increase of approximately 196% compared to the typical volume of 12,927 call options.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The firm had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. On average, equities analysts forecast that Cisco Systems will post $2.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.16 annualized dividend and a yield of 3.62%. Cisco Systems’s dividend payout ratio (DPR) is 58.29%.
In other Cisco Systems news, insider John T. Chambers sold 295,537 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total transaction of $9,315,326.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 396,179 shares of company stock valued at $12,503,407. 0.11% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the company. Seven Eight Capital LP acquired a new stake in Cisco Systems during the fourth quarter valued at about $112,000. Financial Management Professionals Inc. raised its position in Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after buying an additional 635 shares in the last quarter. Watermark Asset Management Inc. purchased a new position in Cisco Systems during the first quarter valued at approximately $122,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Cisco Systems during the fourth quarter valued at approximately $128,000. Finally, Jackson Grant Investment Advisers Inc. raised its position in Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock valued at $128,000 after buying an additional 4,150 shares in the last quarter. 76.14% of the stock is owned by institutional investors.
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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