William Blair reiterated their market perform rating on shares of Cisco Systems (NASDAQ:CSCO) in a report released on Thursday morning, RTT News reports.
Several other research analysts have also recently issued reports on the stock. Needham & Company LLC reissued a hold rating on shares of Cisco Systems in a report on Thursday. Morgan Stanley cut their price objective on shares of Cisco Systems from $51.00 to $49.00 and set an equal weight rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. set a $62.00 price objective on shares of Cisco Systems and gave the company a buy rating in a report on Monday, August 12th. MKM Partners cut their price objective on shares of Cisco Systems from $56.00 to $51.00 and set a neutral rating for the company in a report on Thursday, August 15th. Finally, Piper Jaffray Companies cut shares of Cisco Systems from an overweight rating to a neutral rating and cut their price objective for the company from $55.00 to $51.00 in a report on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $53.79.
Shares of NASDAQ CSCO traded up $0.18 during midday trading on Thursday, reaching $45.09. 32,377,900 shares of the company’s stock traded hands, compared to its average volume of 19,119,746. The stock’s 50 day simple moving average is $47.31 and its 200-day simple moving average is $51.80. The company has a market cap of $190.59 billion, a price-to-earnings ratio of 15.82, a P/E/G ratio of 2.18 and a beta of 1.28. Cisco Systems has a one year low of $40.25 and a one year high of $58.26. The company has a quick ratio of 1.46, a current ratio of 1.70 and a debt-to-equity ratio of 0.42.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.81 by $0.03. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The firm had revenue of $13.16 billion during the quarter, compared to analysts’ expectations of $13.09 billion. During the same quarter last year, the company posted $0.75 earnings per share. The firm’s revenue was up .7% compared to the same quarter last year. Equities analysts predict that Cisco Systems will post 3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 3.10%. Cisco Systems’s payout ratio is presently 49.12%.
In related news, SVP Irving Tan sold 22,896 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total transaction of $1,131,520.32. Following the transaction, the senior vice president now directly owns 154,819 shares in the company, valued at $7,651,154.98. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Goeckeler sold 70,000 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the transaction, the executive vice president now owns 429,398 shares in the company, valued at $21,134,969.56. The disclosure for this sale can be found here. Insiders have sold 193,130 shares of company stock worth $9,359,179 over the last 90 days. 0.03% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Neville Rodie & Shaw Inc. raised its stake in Cisco Systems by 6.3% during the second quarter. Neville Rodie & Shaw Inc. now owns 69,516 shares of the network equipment provider’s stock worth $3,805,000 after purchasing an additional 4,100 shares during the period. Bath Savings Trust Co raised its stake in Cisco Systems by 1.7% during the second quarter. Bath Savings Trust Co now owns 21,082 shares of the network equipment provider’s stock worth $1,153,000 after purchasing an additional 356 shares during the period. Private Trust Co. NA raised its stake in Cisco Systems by 0.4% during the second quarter. Private Trust Co. NA now owns 74,379 shares of the network equipment provider’s stock worth $4,070,000 after purchasing an additional 315 shares during the period. Baystate Wealth Management LLC raised its stake in Cisco Systems by 2.0% during the second quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock worth $600,000 after purchasing an additional 202 shares during the period. Finally, Dorsey Wright & Associates raised its stake in Cisco Systems by 557.4% during the second quarter. Dorsey Wright & Associates now owns 40,735 shares of the network equipment provider’s stock worth $2,229,000 after purchasing an additional 34,539 shares during the period. Hedge funds and other institutional investors own 73.79% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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