Robert W. Baird Reaffirms Outperform Rating for Cisco Systems Inc. (CSCO)
Robert W. Baird restated their outperform rating on shares of Cisco Systems Inc. (NASDAQ:CSCO) in a research report report published on Friday morning. Robert W. Baird currently has a $35.00 target price on the network equipment provider’s stock.
CSCO has been the topic of several other reports. Vetr raised Cisco Systems from a hold rating to a buy rating and set a $30.77 price objective on the stock in a report on Tuesday, June 7th. Jefferies Group reaffirmed a buy rating and set a $35.00 price objective on shares of Cisco Systems in a report on Monday, August 29th. JPMorgan Chase & Co. reaffirmed a hold rating on shares of Cisco Systems in a report on Wednesday, August 17th. Needham & Company LLC reaffirmed a hold rating on shares of Cisco Systems in a report on Thursday, August 18th. Finally, Wells Fargo & Co. reaffirmed a buy rating on shares of Cisco Systems in a report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-four have issued a buy rating to the stock. Cisco Systems presently has an average rating of Buy and a consensus target price of $32.11.
Cisco Systems (NASDAQ:CSCO) opened at 31.10 on Friday. The company has a market cap of $155.95 billion, a PE ratio of 14.74 and a beta of 1.37. The stock has a 50 day moving average of $31.11 and a 200 day moving average of $29.10. Cisco Systems has a one year low of $22.46 and a one year high of $31.95.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.57 billion. During the same period in the previous year, the firm earned $0.59 EPS. The firm’s revenue was down 1.6% compared to the same quarter last year. On average, analysts anticipate that Cisco Systems will post $2.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 dividend on an annualized basis and a yield of 3.34%. Cisco Systems’s payout ratio is 49.06%.
In related news, Director Carol Bartz sold 15,000 shares of Cisco Systems stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $31.25, for a total transaction of $468,750.00. Following the transaction, the director now owns 23,104 shares in the company, valued at $722,000. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Charles Robbins sold 148,800 shares of Cisco Systems stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $31.01, for a total value of $4,614,288.00. Following the transaction, the chief executive officer now owns 629,813 shares in the company, valued at approximately $19,530,501.13. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Mercer Capital Advisers Inc. increased its position in shares of Cisco Systems by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock worth $137,000 after buying an additional 35 shares during the last quarter. Pinnacle Holdings LLC increased its stake in Cisco Systems by 0.5% in the first quarter. Pinnacle Holdings LLC now owns 16,009 shares of the network equipment provider’s stock worth $456,000 after buying an additional 81 shares in the last quarter. Moody Lynn & Lieberson LLC increased its stake in Cisco Systems by 0.6% in the second quarter. Moody Lynn & Lieberson LLC now owns 13,890 shares of the network equipment provider’s stock worth $399,000 after buying an additional 83 shares in the last quarter. Crawford Investment Counsel Inc. increased its stake in Cisco Systems by 1.1% in the second quarter. Crawford Investment Counsel Inc. now owns 8,601 shares of the network equipment provider’s stock worth $247,000 after buying an additional 95 shares in the last quarter. Finally, Hayek Kallen Investment Management increased its stake in Cisco Systems by 1.4% in the second quarter. Hayek Kallen Investment Management now owns 7,206 shares of the network equipment provider’s stock worth $207,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 74.77% of the company’s stock.
Cisco Systems Company Profile
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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