Cisco Systems, Inc. (CSCO) Raised to “Buy” at Vetr Inc.
Cisco Systems, Inc. (NASDAQ:CSCO) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $32.45 target price on the network equipment provider’s stock. Vetr‘s target price points to a potential upside of 5.61% from the company’s current price.
Several other equities research analysts have also weighed in on the company. Citigroup Inc. set a $36.00 target price on Cisco Systems and gave the stock a “buy” rating in a research report on Friday, May 19th. Sanford C. Bernstein set a $38.00 price target on Cisco Systems and gave the stock a “buy” rating in a research report on Saturday, July 1st. Berenberg Bank set a $33.00 price target on Cisco Systems and gave the stock a “hold” rating in a research report on Saturday, July 1st. Jefferies Group LLC reaffirmed a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a research report on Wednesday, April 26th. Finally, Barclays PLC reiterated an “overweight” rating on shares of Cisco Systems in a research note on Saturday, April 22nd. One equities 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. Cisco Systems has an average rating of “Buy” and a consensus price target of $35.23.
Shares of Cisco Systems (NASDAQ CSCO) traded down 1.25% during mid-day trading on Thursday, hitting $30.72. 20,789,117 shares of the stock were exchanged. The company has a 50-day moving average price of $31.99 and a 200-day moving average price of $32.31. Cisco Systems has a 12 month low of $28.17 and a 12 month high of $34.60. The stock has a market cap of $153.60 billion, a price-to-earnings ratio of 15.59 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The company had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. Cisco Systems’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. Equities analysts expect that Cisco Systems will post $2.38 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio is presently 58.29%.
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In other news, SVP Karen Walker sold 7,802 shares of Cisco Systems 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the transaction, the senior vice president now owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock valued at $12,503,407 in the last three months. 0.11% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of CSCO. Dodge & Cox purchased a new position in Cisco Systems during the fourth quarter valued at $1,950,935,000. Norges Bank purchased a new position in Cisco Systems during the fourth quarter valued at $1,306,395,000. Boston Partners boosted its position in 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. Asset Management One Co. Ltd. boosted 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 valued at $266,816,000 after buying an additional 8,043,558 shares during the period. Finally, State Street Corp boosted its position in Cisco Systems by 2.8% in the fourth quarter. State Street Corp now owns 218,577,771 shares of the network equipment provider’s stock valued at $6,605,412,000 after buying an additional 5,886,055 shares during the period. Hedge funds and other institutional investors 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).
To view Vetr’s full report, visit Vetr’s official website.
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