Needham & Company LLC reiterated their hold rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a research note released on Tuesday.

Other equities research analysts also recently issued reports about the company. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the stock a buy rating in a report on Saturday, July 1st. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the stock a hold rating in a report on Saturday, July 1st. Stifel Nicolaus set a $34.00 price objective on Cisco Systems and gave the stock a hold rating in a report on Tuesday, August 15th. JMP Securities restated a market perform rating on shares of Cisco Systems in a report on Friday, August 18th. Finally, Raymond James Financial, Inc. restated an outperform rating and set a $36.00 price objective on shares of Cisco Systems in a report on Monday, May 22nd. Fourteen analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $35.57.

Shares of Cisco Systems (NASDAQ CSCO) traded up 1.0401% during trading on Tuesday, reaching $33.0401. The company had a trading volume of 5,062,909 shares. The firm has a 50-day moving average price of $31.72 and a 200-day moving average price of $32.41. The company has a market capitalization of $163.61 billion, a P/E ratio of 17.3895 and a beta of 1.19. Cisco Systems has a 52-week low of $29.12 and a 52-week high of $34.60.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $12.07 billion. During the same period in the previous year, the business earned $0.63 EPS. Cisco Systems’s revenue for the quarter was down 4.0% compared to the same quarter last year. On average, analysts predict that Cisco Systems will post $2.43 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders 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 dividend yield of 3.55%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.

In other news, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the sale, the insider now directly owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was 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 in the company, valued at $3,847,071.76. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock worth $15,347,574 over the last ninety days. 0.11% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. Southeast Asset Advisors Inc. raised its position in Cisco Systems by 0.5% during the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock valued at $312,000 after buying an additional 44 shares during the period. Opes Advisors Inc raised its position in Cisco Systems by 0.6% during the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock valued at $236,000 after buying an additional 44 shares during the period. Leisure Capital Management raised its position in Cisco Systems by 0.6% during the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock valued at $233,000 after buying an additional 48 shares during the period. Ronald Blue & Co. LLC raised its position in Cisco Systems by 0.3% during the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock valued at $561,000 after buying an additional 57 shares during the period. Finally, Banced Corp raised its position in Cisco Systems by 0.4% during the second quarter. Banced Corp now owns 14,143 shares of the network equipment provider’s stock valued at $442,000 after buying an additional 59 shares during the period. 75.37% of the stock is currently 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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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