Cisco Systems’ (NASDAQ:CSCO) “Outperform” Rating Reaffirmed at William Blair
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “outperform” rating reiterated by research analysts at William Blair in a report released on Monday.
Several other research firms have also recently weighed in on CSCO. Citigroup Inc. set a $36.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Friday, May 19th. Wunderlich reissued a “hold” rating and set a $33.00 target price (up previously from $30.00) on shares of Cisco Systems in a research note on Friday. Berenberg Bank set a $33.00 target price on Cisco Systems and gave the stock a “hold” rating in a research note on Saturday. Sanford C. Bernstein set a $38.00 target price on Cisco Systems and gave the stock a “buy” rating in a research note on Saturday. Finally, Jefferies Group LLC reissued a “buy” rating and set a $37.00 target price on shares of Cisco Systems in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $35.32.
Shares of Cisco Systems (NASDAQ CSCO) opened at 31.30 on Monday. Cisco Systems has a 12-month low of $28.17 and a 12-month high of $34.60. The company has a market capitalization of $156.50 billion, a P/E ratio of 15.89 and a beta of 1.24. The company’s 50 day moving average is $31.99 and its 200 day moving average is $32.31.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The business had revenue of $11.94 billion for the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. Analysts expect that Cisco Systems will post $2.38 earnings per share for the current fiscal year.
The company also recently disclosed 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 is Wednesday, July 5th. This represents a $1.16 annualized dividend and a yield of 3.71%. Cisco Systems’s dividend payout ratio (DPR) is currently 58.29%.
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In other news, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the transaction, the senior vice president now directly owns 178,577 shares in the company, valued at approximately $5,587,674.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John T. Chambers sold 295,537 shares of the business’s 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 quarter, insiders have sold 396,179 shares of company stock valued at $12,503,407. 0.11% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Seven Eight Capital LP bought a new position in shares of Cisco Systems during the fourth quarter valued at $112,000. Financial Management Professionals Inc. boosted its position in shares of 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. bought a new position in shares of Cisco Systems during the first quarter valued at $122,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Cisco Systems during the fourth quarter valued at $128,000. Finally, Jackson Grant Investment Advisers Inc. boosted its position in shares of 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. Institutional investors and hedge funds own 75.37% of the company’s stock.
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).
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