Cisco Systems Inc. (NASDAQ:CSCO) shares hit a new 52-week high during trading on Monday . The company traded as high as $31.19 and last traded at $30.95, with a volume of 8,655,881 shares trading hands. The stock had previously closed at $31.04.

A number of research analysts recently commented on CSCO shares. JPMorgan Chase & Co. reissued a “buy” rating on shares of Cisco Systems in a report on Tuesday, April 12th. Vetr downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $29.92 price target for the company. in a report on Tuesday, May 10th. Deutsche Bank AG reissued a “buy” rating on shares of Cisco Systems in a report on Monday, April 18th. Drexel Hamilton reissued a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a report on Saturday, June 25th. Finally, Credit Suisse Group AG reissued an “underperform” rating on shares of Cisco Systems in a report on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $31.16.

The firm has a market cap of $155.72 billion and a price-to-earnings ratio of 15.33. The company has a 50-day moving average of $29.59 and a 200 day moving average of $27.61.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 18th. The network equipment provider reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The firm earned $12 billion during the quarter, compared to analyst estimates of $11.97 billion. During the same quarter last year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, analysts anticipate that Cisco Systems Inc. will post $2.33 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Thursday, July 7th were issued a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $1.04 annualized dividend and a yield of 3.35%.

In other Cisco Systems news, Director Steven M. West sold 15,000 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total value of $453,000.00. Following the transaction, the director now directly owns 26,804 shares of the company’s stock, valued at approximately $809,480.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman John T. Chambers sold 541,667 shares of the stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $28.95, for a total transaction of $15,681,259.65. Following the completion of the transaction, the chairman now directly owns 1,967,156 shares in the company, valued at $56,949,166.20. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have made changes to their positions in CSCO. Roof Eidam & Maycock ADV boosted its position in shares of 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 in the last quarter. Stuyvesant Capital Management boosted its position in shares of Cisco Systems by 3.1% in the fourth quarter. Stuyvesant Capital Management now owns 40,606 shares of the network equipment provider’s stock valued at $1,103,000 after buying an additional 1,225 shares in the last quarter. Investors Capital Advisory Services boosted its position in shares of Cisco Systems by 4.7% in the fourth quarter. Investors Capital Advisory Services now owns 40,910 shares of the network equipment provider’s stock valued at $1,109,000 after buying an additional 1,829 shares in the last quarter. Navellier & Associates Inc boosted its position in shares of Cisco Systems by 10.9% in the fourth quarter. Navellier & Associates Inc now owns 41,283 shares of the network equipment provider’s stock valued at $1,121,000 after buying an additional 4,041 shares in the last quarter. Finally, Stonebridge Capital Advisors LLC boosted its position in shares of Cisco Systems by 25.2% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 42,065 shares of the network equipment provider’s stock valued at $1,142,000 after buying an additional 8,459 shares in 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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