Cisco Systems, Inc. (NASDAQ:CSCO) has been assigned a consensus recommendation of “Buy” from the thirty-six brokerages that are covering the company, MarketBeat.com reports. Fourteen research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $35.70.

CSCO has been the topic of a number of analyst reports. Robert W. Baird reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Thursday, May 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $37.00 price target on shares of Cisco Systems in a research report on Friday, May 19th. Citigroup Inc. set a $36.00 price target on Cisco Systems and gave the company a “buy” rating in a research report on Friday, May 19th. Deutsche Bank AG set a $40.00 price target on Cisco Systems and gave the company a “buy” rating in a research report on Friday, May 19th. Finally, Vetr lowered Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $35.13 price target on the stock. in a research report on Monday, May 22nd.

Cisco Systems (NASDAQ:CSCO) traded up 0.854% during mid-day trading on Tuesday, hitting $32.465. The company had a trading volume of 18,119,922 shares. The company has a 50-day moving average price of $31.63 and a 200 day moving average price of $32.48. Cisco Systems has a 52-week low of $29.12 and a 52-week high of $34.60. The company has a market capitalization of $160.77 billion, a P/E ratio of 17.087 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same period last year, the business posted $0.63 EPS. Cisco Systems’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts forecast that Cisco Systems will post $2.43 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.

In other Cisco Systems news, CEO Charles Robbins sold 121,390 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the completion of the sale, the chief executive officer now owns 552,694 shares of the company’s stock, valued at $17,719,369.64. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Prat Bhatt sold 25,638 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the sale, the chief accounting officer now directly owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 420,138 shares of company stock valued at $13,239,624. 0.11% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. Barnett & Company Inc. grew its position in Cisco Systems by 1,511.5% during the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after acquiring an additional 3,023 shares during the period. Tortoise Investment Management LLC grew its position in Cisco Systems by 36.1% during the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after acquiring an additional 878 shares during the period. Mountain Capital Investment Advisors Inc purchased a new stake in Cisco Systems during the second quarter valued at about $104,000. Grove Bank & Trust grew its position in Cisco Systems by 141.3% during the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 2,120 shares during the period. Finally, Manchester Capital Management LLC grew its position in Cisco Systems by 10.7% during the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 350 shares during the period. 74.70% of the stock is owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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