Instinet reaffirmed their neutral rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a research report report published on Friday, May 19th. Instinet currently has a $29.00 price objective on the network equipment provider’s stock, down from their prior price objective of $30.00.
Several other equities analysts have also issued reports on the company. Oppenheimer Holdings, Inc. set a $34.00 target price on Cisco Systems and gave the stock a buy rating in a research note on Tuesday, January 24th. Zacks Investment Research lowered Cisco Systems from a hold rating to a sell rating in a research note on Tuesday, April 18th. Morgan Stanley raised Cisco Systems from an equal weight rating to an overweight rating and increased their target price for the stock from $33.45 to $39.00 in a research note on Monday, May 15th. Credit Suisse Group raised Cisco Systems from an underperform rating to an outperform rating and increased their target price for the stock from $27.00 to $40.00 in a research note on Thursday, April 27th. Finally, Deutsche Bank AG increased their price target on Cisco Systems from $40.00 to $42.00 and gave the company a buy rating in a research report on Thursday, March 23rd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have assigned a buy rating to the stock. Cisco Systems presently has an average rating of Buy and an average target price of $35.19.
Cisco Systems (NASDAQ CSCO) traded up 0.16% during mid-day trading on Friday, hitting $31.63. The stock had a trading volume of 36,367,419 shares. The company has a market cap of $158.15 billion, a PE ratio of 16.06 and a beta of 1.23. The firm’s 50-day moving average price is $32.56 and its 200 day moving average price is $32.16. Cisco Systems has a one year low of $27.13 and a one year high of $34.60. Cisco Systems also was the recipient of unusually large options trading on Tuesday. Traders purchased 12,632 call options on the stock. This is an increase of approximately 278% compared to the average volume of 3,338 call options.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm 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 company earned $0.57 EPS. Cisco Systems’s revenue was down .5% on a year-over-year basis. On average, equities research analysts anticipate that Cisco Systems will post $2.38 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be issued 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 3.67%. Cisco Systems’s dividend payout ratio is presently 58.29%.
In related news, SVP Karen Walker sold 7,802 shares of Cisco Systems stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at $5,587,674.33. The sale 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 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 ninety days, insiders have sold 396,179 shares of company stock valued at $12,503,407. 0.11% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the company. Edmond DE Rothschild Monaco bought a new position in Cisco Systems during the third quarter worth $111,000. Watermark Asset Management Inc. bought a new position in Cisco Systems during the first quarter worth $122,000. Seven Eight Capital LP bought a new position in Cisco Systems during the fourth quarter worth $112,000. Financial Management Professionals Inc. boosted 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 worth $118,000 after buying an additional 635 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in Cisco Systems during the fourth quarter worth $128,000. 76.11% of the stock is owned by institutional investors.
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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