Cisco Systems, Inc. (NASDAQ:CSCO) Rating Lowered to Hold at Vetr Inc.
Vetr cut shares of Cisco Systems, Inc. (NASDAQ:CSCO) from a buy rating to a hold rating in a research report released on Monday. They currently have $33.12 price objective on the network equipment provider’s stock.
Other equities research analysts have also recently issued research reports about the company. Citigroup Inc. set a $36.00 price objective on Cisco Systems and gave the company a buy rating in a research note on Friday, May 19th. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the company a buy rating in a research note on Saturday, July 1st. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the company a hold rating in a research note on Saturday, July 1st. Jefferies Group LLC reissued a buy rating and issued a $37.00 price objective on shares of Cisco Systems in a research note on Wednesday, April 26th. Finally, Barclays PLC reissued an overweight rating on shares of Cisco Systems in a research note on Saturday, April 22nd. Thirteen research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $35.31.
Shares of Cisco Systems (NASDAQ:CSCO) traded down 0.521% during trading on Monday, hitting $31.495. The company had a trading volume of 5,551,800 shares. The stock has a 50-day moving average of $31.57 and a 200 day moving average of $32.44. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $34.60. The stock has a market capitalization of $157.48 billion, a price-to-earnings ratio of 15.987 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. During the same quarter last year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year. On average, analysts predict that Cisco Systems will post $2.38 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s payout ratio is currently 58.29%.
In other news, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total value of $244,124.58. Following the completion of the sale, the senior vice president now owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. Insiders sold a total of 396,179 shares of company stock valued at $12,503,407 over the last quarter. Company insiders own 0.11% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Nicholas Co. Inc. WI raised its stake in Cisco Systems by 0.3% in the fourth quarter. Nicholas Co. Inc. WI now owns 2,596,895 shares of the network equipment provider’s stock worth $78,478,000 after buying an additional 8,685 shares during the period. Credit Agricole S A raised its stake in Cisco Systems by 7.7% in the fourth quarter. Credit Agricole S A now owns 7,796,583 shares of the network equipment provider’s stock worth $235,613,000 after buying an additional 554,355 shares during the period. Northwest Quadrant Wealth Management LLC bought a new stake in Cisco Systems during the fourth quarter worth $335,000. Diligent Investors LLC bought a new stake in Cisco Systems during the fourth quarter worth $1,369,000. Finally, Pacad Investment Ltd. raised its stake in Cisco Systems by 257.8% in the fourth quarter. Pacad Investment Ltd. now owns 102,526 shares of the network equipment provider’s stock worth $3,098,000 after buying an additional 73,870 shares during the period. 75.39% of the stock is owned by institutional investors.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
To view Vetr’s full report, visit Vetr’s official website.
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