BMO Capital Markets reaffirmed their outperform rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a report published on Thursday morning. The brokerage currently has a $33.00 price objective on the network equipment provider’s stock.

CSCO has been the subject of several other research reports. Zacks Investment Research downgraded shares of Cisco Systems from a buy rating to a sell rating in a research note on Tuesday, November 22nd. Robert W. Baird reissued a buy rating on shares of Cisco Systems in a research note on Wednesday, January 25th. William Blair started coverage on shares of Cisco Systems in a research note on Tuesday, January 17th. They issued an outperform rating for the company. Vetr downgraded shares of Cisco Systems from a buy rating to a hold rating and set a $31.28 target price for the company. in a research note on Monday, January 23rd. Finally, Citigroup Inc. restated a buy rating and issued a $34.00 price target (down previously from $35.00) on shares of Cisco Systems in a report on Thursday, December 29th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $33.65.

Shares of Cisco Systems (NASDAQ:CSCO) traded up 2.38% during mid-day trading on Thursday, hitting $33.60. 50,141,861 shares of the stock traded hands. The company has a market cap of $168.66 billion, a P/E ratio of 16.08 and a beta of 1.36. Cisco Systems has a one year low of $25.65 and a one year high of $33.97. The stock has a 50 day moving average price of $30.83 and a 200-day moving average price of $30.79.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 15th. The network equipment provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.01. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The firm earned $11.60 billion during the quarter, compared to the consensus estimate of $11.55 billion. During the same quarter in the previous year, the company posted $0.57 EPS. On average, analysts forecast that Cisco Systems will post $2.37 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Thursday, April 6th will be paid a $0.29 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.26. The ex-dividend date is Tuesday, April 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.45%. Cisco Systems’s dividend payout ratio is presently 49.52%.

In other news, SVP Karen Walker sold 1,793 shares of the stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $30.41, for a total value of $54,525.13. Following the completion of the transaction, the senior vice president now owns 183,275 shares of the company’s stock, valued at $5,573,392.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Cisco Systems by 2.1% in the second quarter. Vanguard Group Inc. now owns 317,302,573 shares of the network equipment provider’s stock valued at $9,103,410,000 after buying an additional 6,634,140 shares in the last quarter. State Street Corp boosted its position in shares of Cisco Systems by 2.8% in the fourth quarter. State Street Corp now owns 218,577,771 shares of the network equipment provider’s stock valued at $6,605,412,000 after buying an additional 5,886,055 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Cisco Systems by 9.2% in the third quarter. Bank of New York Mellon Corp now owns 123,367,471 shares of the network equipment provider’s stock valued at $3,913,216,000 after buying an additional 10,435,264 shares in the last quarter. FMR LLC boosted its position in shares of Cisco Systems by 1.4% in the fourth quarter. FMR LLC now owns 104,252,187 shares of the network equipment provider’s stock valued at $3,150,500,000 after buying an additional 1,462,365 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Cisco Systems by 5.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 69,860,968 shares of the network equipment provider’s stock valued at $2,215,990,000 after buying an additional 3,555,286 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.

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).

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