Cisco Systems Inc. (NASDAQ:CSCO) shares hit a new 52-week high during trading on Friday . The stock traded as high as $31.95 and last traded at $31.76, with a volume of 11,340,522 shares traded. The stock had previously closed at $31.58.

Several research analysts have recently commented on CSCO shares. Citigroup Inc. reissued a “buy” rating on shares of Cisco Systems in a report on Thursday, May 19th. Vetr downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $29.56 target price on the stock. in a report on Monday, May 16th. Wells Fargo & Co. reissued a “buy” rating on shares of Cisco Systems in a report on Wednesday, May 18th. Drexel Hamilton reissued a “buy” rating and issued a $36.00 target price (up from $34.00) on shares of Cisco Systems in a report on Saturday, May 14th. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Cisco Systems in a report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $31.80.

The company has a 50-day moving average of $30.78 and a 200 day moving average of $28.63. The firm has a market cap of $159.73 billion and a P/E ratio of 15.05.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The firm earned $12.60 billion during the quarter, compared to the consensus estimate of $12.57 billion. During the same period in the previous year, the company posted $0.59 earnings per share. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. Equities analysts predict that Cisco Systems Inc. will post $2.43 EPS for the current fiscal year.

In other Cisco Systems news, Director Carol Bartz sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $31.25, for a total value of $468,750.00. Following the transaction, the director now directly owns 23,104 shares in the company, valued at $722,000. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Pankaj Patel sold 4,133 shares of the business’s stock in a transaction dated 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 owns 359,174 shares in the company, valued at $10,423,229.48. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors recently added to or reduced their stakes in the stock. 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 worth $2,348,000 after buying an additional 287 shares during the last quarter. 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 worth $3,729,000 after buying an additional 561 shares during the last quarter. Stuyvesant Capital Management boosted its position 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. Wilkins Investment Counsel Inc. boosted its position in Cisco Systems by 2.5% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 72,970 shares of the network equipment provider’s stock worth $1,982,000 after buying an additional 1,800 shares during the last quarter. Finally, Investors Capital Advisory Services boosted its position in 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 worth $1,109,000 after buying an additional 1,829 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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