Cisco Systems, Inc. (CSCO) Stock Rating Reaffirmed by Robert W. Baird
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reiterated by equities research analysts at Robert W. Baird in a research report issued to clients and investors on Tuesday.
Other equities research analysts have also recently issued reports about the company. Pacific Crest reissued a “buy” rating on shares of Cisco Systems in a report on Thursday, November 17th. Barclays PLC reissued a “buy” rating and set a $34.00 price target on shares of Cisco Systems in a report on Thursday, November 17th. Deutsche Bank AG set a $37.00 price target on Cisco Systems and gave the company a “buy” rating in a report on Thursday, November 17th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $34.00 price target on shares of Cisco Systems in a report on Thursday, November 17th. Finally, FBN Securities set a $35.00 price target on Cisco Systems and gave the company a “buy” rating in a report on Saturday, November 19th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $33.81.
Cisco Systems (NASDAQ:CSCO) opened at 34.09 on Tuesday. The stock has a 50 day moving average price of $31.15 and a 200-day moving average price of $30.86. Cisco Systems has a 12-month low of $25.81 and a 12-month high of $34.21. The stock has a market capitalization of $170.96 billion, a PE ratio of 17.57 and a beta of 1.36.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 15th. The network equipment provider reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.01. The business had revenue of $11.60 billion for the quarter, compared to analysts’ expectations of $11.55 billion. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. During the same period last year, the firm earned $0.57 earnings per share. On average, equities analysts anticipate that Cisco Systems will post $2.38 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Thursday, April 6th will be issued a dividend of $0.29 per share. The ex-dividend date is Tuesday, April 4th. This represents a $1.16 dividend on an annualized basis and a yield of 3.40%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.26. Cisco Systems’s dividend payout ratio is currently 49.52%.
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In other Cisco Systems news, SVP Karen Walker sold 1,793 shares of the company’s stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $30.41, for a total transaction of $54,525.13. Following the completion of the sale, the senior vice president now owns 183,275 shares in the company, valued at $5,573,392.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of CSCO. Vanguard Group Inc. raised its stake in 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 worth $9,103,410,000 after buying an additional 6,634,140 shares in the last quarter. State Street Corp raised its stake in 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 worth $6,605,412,000 after buying an additional 5,886,055 shares in the last quarter. Bank of New York Mellon Corp raised its stake in 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 worth $3,913,216,000 after buying an additional 10,435,264 shares in the last quarter. FMR LLC raised its stake in Cisco Systems by 1.4% in the fourth quarter. FMR LLC now owns 104,252,187 shares of the network equipment provider’s stock worth $3,150,500,000 after buying an additional 1,462,365 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in 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 worth $2,215,990,000 after buying an additional 3,555,286 shares in the last quarter. Institutional investors own 75.24% of the company’s stock.
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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