Shares of Cisco Systems Inc. (NASDAQ:CSCO) saw unusually-high trading volume on Wednesday . Approximately 31,937,253 shares changed hands during mid-day trading, an increase of 32% from the previous session’s volume of 24,286,884 shares.The stock last traded at $30.57 and had previously closed at $29.92.

CSCO has been the topic of a number of research reports. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Tuesday, April 12th. Bank of America Corp. lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating and lifted their price target for the company from $27.00 to $30.00 in a research note on Tuesday, April 5th. Vetr lowered 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 note on Monday, April 4th. Nomura Holdings Inc. reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Monday, April 4th. Finally, Deutsche Bank AG reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Monday, April 18th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $30.86.

The company has a market capitalization of $154.79 billion and a P/E ratio of 15.235. The company has a 50 day moving average of $29.04 and a 200 day moving average of $27.19.

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, beating the Zacks’ consensus estimate of $0.55 by $0.02. The business had revenue of $12 billion for the quarter, compared to the consensus estimate of $11.97 billion. The business’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. On average, analysts expect that Cisco Systems Inc. will post $2.33 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 27th. Investors 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 yield of 3.40%.

In related news, EVP Pankaj Patel sold 9,891 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rebecca Jacoby sold 90,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 318,730 shares of the company’s stock, valued at approximately $9,233,608.10. The disclosure for this sale can be found here.

A number of hedge funds have recently added to or reduced their stakes in the company. Eads & Heald Investment Counsel increased its stake in Cisco Systems by 0.6% in the fourth quarter. Eads & Heald Investment Counsel now owns 37,351 shares of the network equipment provider’s stock worth $1,014,000 after buying an additional 205 shares during the last quarter. Roof Eidam & Maycock ADV increased its stake in Cisco Systems by 0.4% in the fourth quarter. Roof Eidam & Maycock ADV now owns 37,625 shares of the network equipment provider’s stock worth $1,022,000 after buying an additional 150 shares during the last quarter. Westport Resources Management Inc. increased its stake in Cisco Systems by 6.1% in the fourth quarter. Westport Resources Management Inc. now owns 38,335 shares of the network equipment provider’s stock worth $1,041,000 after buying an additional 2,200 shares during the last quarter. Stuyvesant Capital Management increased its stake in Cisco Systems by 3.1% in the fourth quarter. Stuyvesant Capital Management now owns 40,606 shares of the network equipment provider’s stock worth $1,103,000 after buying an additional 1,225 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in Cisco Systems during the fourth quarter worth $1,106,000.

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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