Cisco Systems Inc. (NASDAQ:CSCO) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $29.70 and last traded at $29.51, with a volume of 13,180,767 shares traded. The stock had previously closed at $29.26.

Several brokerages recently issued reports on CSCO. BMO Capital Markets reiterated a “buy” rating and issued a $32.00 target price on shares of Cisco Systems in a research report on Sunday. Argus reiterated a “buy” rating and issued a $34.00 target price on shares of Cisco Systems in a research report on Thursday. Credit Suisse Group AG reiterated an “underperform” rating on shares of Cisco Systems in a research report on Wednesday, July 6th. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Tuesday, July 5th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Cisco Systems in a research report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $31.14.

The company has a 50-day moving average price of $28.71 and a 200 day moving average price of $27.02. The firm has a market capitalization of $148.23 billion and a price-to-earnings ratio of 14.59.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. During the same quarter in the prior year, the firm earned $0.54 EPS. The firm earned $12 billion during the quarter, compared to analysts’ expectations of $11.97 billion. The firm’s revenue was down 1.1% compared to the same quarter last year. Equities analysts anticipate that Cisco Systems Inc. will post $2.33 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Thursday, July 7th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Tuesday, July 5th. This represents a $1.04 dividend on an annualized basis and a yield of 3.55%.

In other Cisco Systems news, SVP Rebecca Jacoby sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $28.97, for a total transaction of $2,607,300.00. Following the sale, the senior vice president now owns 318,730 shares of the company’s stock, valued at $9,233,608.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman John T. Chambers sold 541,667 shares of the firm’s stock in a transaction that occurred on Thursday, May 26th. The stock was sold at an average price of $28.95, for a total transaction of $15,681,259.65. Following the sale, the chairman now directly owns 1,967,156 shares in the company, valued at approximately $56,949,166.20. The disclosure for this sale can be found here.

Other hedge funds recently added to or reduced their stakes in the company. Buckingham Capital Management Inc. boosted its stake in Cisco Systems by 3.8% in the third quarter. Buckingham Capital Management Inc. now owns 168,138 shares of the network equipment provider’s stock worth $4,414,000 after buying an additional 6,211 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cisco Systems by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 32,258,594 shares of the network equipment provider’s stock worth $876,088,000 after buying an additional 1,121,239 shares during the last quarter. Opus Investment Management Inc. boosted its stake in Cisco Systems by 81.9% in the fourth quarter. Opus Investment Management Inc. now owns 151,000 shares of the network equipment provider’s stock worth $4,100,000 after buying an additional 68,000 shares during the last quarter. Stephens Inc. AR boosted its stake in Cisco Systems by 2.6% in the fourth quarter. Stephens Inc. AR now owns 333,988 shares of the network equipment provider’s stock worth $9,069,000 after buying an additional 8,456 shares during the last quarter. Finally, I.G. Investment Management LTD. boosted its stake in Cisco Systems by 70.8% in the fourth quarter. I.G. Investment Management LTD. now owns 4,323,766 shares of the network equipment provider’s stock worth $117,433,000 after buying an additional 1,792,667 shares during the last quarter.

Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

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