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

CSCO has been the subject of a number of recent research reports. Vetr downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $29.56 price objective for the company. in a research note on Monday, May 16th. Drexel Hamilton reaffirmed 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. Citigroup Inc. reaffirmed a “buy” rating and issued a $30.00 target price on shares of Cisco Systems in a report on Friday, May 13th. Robert W. Baird reaffirmed a “buy” rating and issued a $32.00 target price (up from $30.00) on shares of Cisco Systems in a report on Thursday, May 19th. Finally, Jefferies Group upped their target price on shares of Cisco Systems from $27.50 to $30.75 and gave the company a “buy” rating in a report on Thursday, May 19th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-three have given a buy rating to the company. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $31.80.

The stock’s 50 day moving average is $30.86 and its 200-day moving average is $28.67. The firm has a market cap of $160.14 billion and a P/E ratio of 15.09.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. During the same quarter in the previous year, the business earned $0.59 earnings per share. The business earned $12.60 billion during the quarter, compared to the consensus estimate of $12.57 billion. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts expect that Cisco Systems Inc. will post $2.43 EPS for the current year.

In related news, CMO Karen Walker sold 7,802 shares of the stock in a transaction dated Wednesday, June 15th. The shares were sold at an average price of $28.50, for a total value of $222,357.00. Following the completion of the transaction, the chief marketing officer now directly owns 175,250 shares in the company, valued at approximately $4,994,625. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carol Bartz sold 15,000 shares of the stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $31.25, for a total transaction of $468,750.00. Following the completion of the transaction, the director now owns 23,104 shares of the company’s stock, valued at $722,000. The disclosure for this sale can be found here.

A number of hedge funds have recently made changes to their positions in CSCO. Mizuho Trust & Banking Co. Ltd. increased its stake in shares of Cisco Systems by 1.7% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 7,780,402 shares of the network equipment provider’s stock valued at $214,194,000 after buying an additional 132,489 shares during the period. Atlantic Trust Group LLC increased its stake in shares of Cisco Systems by 1.7% in the fourth quarter. Atlantic Trust Group LLC now owns 4,519,548 shares of the network equipment provider’s stock valued at $122,729,000 after buying an additional 77,069 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in shares of Cisco Systems by 2.2% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 3,146,229 shares of the network equipment provider’s stock valued at $85,451,000 after buying an additional 67,036 shares during the period. Gulf International Bank UK Ltd increased its stake in shares of Cisco Systems by 2.6% in the fourth quarter. Gulf International Bank UK Ltd now owns 1,511,662 shares of the network equipment provider’s stock valued at $41,049,000 after buying an additional 38,600 shares during the period. Finally, Madison Investment Holdings Inc. increased its stake in shares of Cisco Systems by 33.9% in the fourth quarter. Madison Investment Holdings Inc. now owns 860,432 shares of the network equipment provider’s stock valued at $23,365,000 after buying an additional 217,955 shares during the period.

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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