Shares of Cisco Systems Inc. (NASDAQ:CSCO) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.15 and last traded at $30.90, with a volume of 10,978,844 shares changing hands. The stock had previously closed at $30.79.

Several analysts have issued reports on the company. Zacks Investment Research downgraded Cisco Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, July 19th. Morgan Stanley reaffirmed a “hold” rating and issued a $28.00 target price on shares of Cisco Systems in a research report on Monday, July 18th. Vetr downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $32.61 target price on the stock. in a research report on Thursday, July 14th. Cowen and Company reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Tuesday, July 12th. Finally, Drexel Hamilton reaffirmed a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-five have given a buy rating to the stock. Cisco Systems currently has an average rating of “Buy” and a consensus price target of $30.86.

The stock has a 50-day moving average of $29.14 and a 200 day moving average of $27.27. The company has a market capitalization of $155.24 billion and a P/E ratio of 15.280.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02. The company had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.97 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts predict that Cisco Systems Inc. will post $2.33 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 27th. Stockholders 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 annualized dividend and a dividend yield of 3.38%.

In other news, EVP Pankaj Patel sold 4,133 shares of the business’s stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $29.02, for a total transaction of $119,939.66. Following the completion of the transaction, the executive vice president now directly owns 359,174 shares of the company’s stock, valued at $10,423,229.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rebecca Jacoby sold 90,000 shares of the business’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 transaction, the senior vice president now directly owns 318,730 shares of the company’s stock, valued at $9,233,608.10. The disclosure for this sale can be found here.

Several hedge funds and institutional investors recently added to or reduced their stakes in the stock. Roof Eidam & Maycock ADV boosted its position 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 valued at $1,022,000 after buying an additional 150 shares during the last quarter. Renaissance Group LLC boosted its position in Cisco Systems by 0.3% in the fourth quarter. Renaissance Group LLC now owns 86,484 shares of the network equipment provider’s stock valued at $2,348,000 after buying an additional 287 shares during the last quarter. Banque Pictet & Cie SA boosted its position in Cisco Systems by 0.4% in the fourth quarter. Banque Pictet & Cie SA now owns 95,857 shares of the network equipment provider’s stock valued at $2,603,000 after buying an additional 385 shares during the last quarter. Pictet North America Advisors SA boosted its position in Cisco Systems by 1.1% in the fourth quarter. Pictet North America Advisors SA now owns 41,007 shares of the network equipment provider’s stock valued at $1,114,000 after buying an additional 435 shares during the last quarter. Finally, Apriem Advisors boosted its position in Cisco Systems by 0.4% in the fourth quarter. Apriem Advisors now owns 137,325 shares of the network equipment provider’s stock valued at $3,729,000 after buying an additional 561 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.