Cisco Systems, Inc. (NASDAQ:CSCO) Given a $33.00 Price Target by Berenberg Bank Analysts
Cisco Systems, Inc. (NASDAQ:CSCO) has been assigned a $33.00 price objective by Berenberg Bank in a report released on Saturday. The brokerage presently has a “hold” rating on the network equipment provider’s stock. Berenberg Bank’s price objective indicates a potential upside of 5.33% from the company’s previous close.
Several other brokerages also recently issued reports on CSCO. J P Morgan Chase & Co reissued a “neutral” rating on shares of Cisco Systems in a research report on Monday, June 26th. Vetr downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price objective for the company. in a research report on Wednesday, April 26th. Morgan Stanley raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $33.45 to $39.00 in a research report on Monday, May 15th. Zacks Investment Research downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. Finally, BMO Capital Markets downgraded shares of Cisco Systems from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $37.00 to $35.00 in a research report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $35.32.
Cisco Systems (NASDAQ CSCO) traded up 0.10% during trading on Friday, reaching $31.33. 14,112,089 shares of the company’s stock traded hands. The firm’s 50 day moving average is $31.99 and its 200 day moving average is $32.31. The company has a market cap of $156.65 billion, a P/E ratio of 15.90 and a beta of 1.24. Cisco Systems has a 12 month low of $28.17 and a 12 month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The firm had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. During the same quarter in the prior year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was down .5% on a year-over-year basis. Analysts anticipate that Cisco Systems will post $2.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.70%. The ex-dividend date is Wednesday, July 5th. Cisco Systems’s dividend payout ratio is currently 58.29%.
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In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the transaction, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Karen Walker sold 7,802 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total transaction of $244,124.58. Following the completion of the transaction, the senior vice president now directly owns 178,577 shares in the company, valued at $5,587,674.33. The disclosure for this sale can be found here. Over the last three months, insiders sold 396,179 shares of company stock worth $12,503,407. Insiders own 0.11% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake 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 during the period. Dodge & Cox bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $1,950,935,000. Norges Bank bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $1,314,651,000. Boston Partners raised its stake 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 during the period. Finally, Vanguard Group Inc. raised its stake 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 during the period. 75.37% of the stock is currently owned by hedge funds and other 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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