Cisco Systems Inc. (CSCO) Reaches New 12-Month High at $29.70
Cisco Systems Inc. (NASDAQ:CSCO) hit a new 52-week high during 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. The stock had previously closed at $29.26.
Several equities research analysts have commented on CSCO shares. Argus reiterated a “buy” rating and issued a $34.00 price target on shares of Cisco Systems in a research report on Thursday, July 7th. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $29.77 price target on the stock. in a research report on Monday, April 4th. BMO Capital Markets restated a “buy” rating and set a $32.00 price objective on shares of Cisco Systems in a report on Sunday. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $30.00 price objective on shares of Cisco Systems in a report on Tuesday, April 12th. Finally, Credit Suisse Group AG restated an “underperform” rating on shares of Cisco Systems in a report on Wednesday, July 6th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $31.14.
The firm has a market cap of $148.93 billion and a P/E ratio of 14.66. The company has a 50 day moving average price of $28.80 and a 200-day moving average price of $27.05.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The company earned $12 billion during the quarter, compared to the consensus estimate of $11.97 billion. The company’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. On average, equities research analysts forecast that Cisco Systems Inc. will post $2.33 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 27th. Shareholders of record on Thursday, July 7th will be given a $0.26 dividend. The ex-dividend date is Tuesday, July 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.51%.
In other Cisco Systems news, SVP Rebecca Jacoby sold 90,000 shares of the company’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $28.97, for a total value of $2,607,300.00. Following the sale, the senior vice president now owns 318,730 shares in the company, valued at approximately $9,233,608.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Pankaj Patel sold 9,891 shares of the company’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $29.03, for a total value of $287,135.73. Following the completion of the sale, the executive vice president now owns 356,307 shares in the company, valued at approximately $10,343,592.21. The disclosure for this sale can be found here.
Other large investors recently added to or reduced their stakes in the company. Toth Financial raised its stake in Cisco Systems by 2.7% in the fourth quarter. Toth Financial now owns 261,977 shares of the network equipment provider’s stock worth $7,114,000 after buying an additional 6,869 shares during the period. Dumont & Blake Investment Advisors LLC raised its stake in shares of Cisco Systems by 5.8% in the fourth quarter. Dumont & Blake Investment Advisors LLC now owns 63,725 shares of the network equipment provider’s stock valued at $1,730,000 after buying an additional 3,490 shares during the last quarter. Rand Wealth LLC raised its stake in shares of Cisco Systems by 28.2% in the fourth quarter. Rand Wealth LLC now owns 206,902 shares of the network equipment provider’s stock valued at $5,618,000 after buying an additional 45,533 shares during the last quarter. James Investment Research Inc. raised its stake in shares of Cisco Systems by 1.1% in the fourth quarter. James Investment Research Inc. now owns 525,103 shares of the network equipment provider’s stock valued at $14,259,000 after buying an additional 5,490 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in shares of Cisco Systems by 47.4% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,844,425 shares of the network equipment provider’s stock valued at $50,085,000 after buying an additional 592,800 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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