Wells Fargo & Co. reaffirmed their outperform rating on shares of Cisco Systems Inc. (NASDAQ:CSCO) in a report released on Monday. Wells Fargo & Co. currently has a $36.50 price target on the network equipment provider’s stock, up from their prior price target of $34.00.

Other analysts have also recently issued reports about the stock. Sanford C. Bernstein reissued a buy rating on shares of Cisco Systems in a report on Sunday, May 22nd. Zacks Investment Research upgraded shares of Cisco Systems from a sell rating to a hold rating in a research report on Monday, May 23rd. Cowen and Company restated a buy rating on shares of Cisco Systems in a research report on Tuesday, July 12th. Goldman Sachs Group Inc. restated a neutral rating and set a $32.00 price target on shares of Cisco Systems in a research report on Thursday, August 18th. Finally, Morgan Stanley upped their price target on shares of Cisco Systems from $28.00 to $30.00 and gave the stock an equal weight rating in a research report on Thursday, August 18th. One 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 has a consensus rating of Buy and an average price target of $32.11.

Cisco Systems (NASDAQ:CSCO) opened at 31.095 on Monday. The stock has a market capitalization of $155.92 billion, a P/E ratio of 14.737 and a beta of 1.37. The firm’s 50-day moving average is $31.10 and its 200 day moving average is $29.07. Cisco Systems has a 12 month low of $22.46 and a 12 month high of $31.95.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The company had revenue of $12.60 billion for the quarter, compared to analysts’ expectations of $12.57 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The firm’s revenue was down 1.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.59 earnings per share. On average, equities analysts anticipate that Cisco Systems will post $2.43 earnings per share for the current year.

The company 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 $0.26 dividend. 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 3.35%. Cisco Systems’s payout ratio is 49.06%.

In other news, EVP Pankaj Patel sold 9,891 shares of the business’s stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $29.03, for a total transaction of $287,135.73. Following the completion of the transaction, the executive vice president now directly owns 356,307 shares in the company, valued at approximately $10,343,592.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carol Bartz sold 15,000 shares of the business’s stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $31.25, for a total value of $468,750.00. Following the transaction, the director now owns 23,104 shares of the company’s stock, valued at $722,000. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of CSCO. Riggs Asset Managment Co. Inc. raised its position in Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock valued at $102,000 after buying an additional 225 shares during the last quarter. Lenox Wealth Management Inc. raised its position in Cisco Systems by 35.0% in the second quarter. Lenox Wealth Management Inc. now owns 3,835 shares of the network equipment provider’s stock valued at $110,000 after buying an additional 995 shares during the last quarter. Global X Management Co. LLC raised its position in Cisco Systems by 101.9% in the second quarter. Global X Management Co. LLC now owns 4,244 shares of the network equipment provider’s stock valued at $122,000 after buying an additional 2,142 shares during the last quarter. Financial Management Professionals Inc. raised its position in Cisco Systems by 25.7% in the second quarter. Financial Management Professionals Inc. now owns 4,389 shares of the network equipment provider’s stock valued at $125,000 after buying an additional 896 shares during the last quarter. Finally, Mercer Capital Advisers Inc. raised its position in 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 valued at $137,000 after buying an additional 35 shares during the last quarter. Institutional investors own 75.04% of the company’s stock.

About Cisco Systems

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.

5 Day Chart for NASDAQ:CSCO

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