Cisco Systems, Inc. (CSCO) Given Hold Rating at Credit Suisse Group
Credit Suisse Group reissued their hold rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a report issued on Friday morning. The brokerage currently has a $35.00 target price on the network equipment provider’s stock.
Several other equities analysts also recently commented on the stock. Vetr upgraded shares of Cisco Systems from a hold rating to a buy rating and set a $35.02 price objective on the stock in a report on Wednesday, September 6th. Zacks Investment Research upgraded shares of Cisco Systems from a sell rating to a hold rating in a report on Tuesday, July 18th. ValuEngine downgraded shares of Cisco Systems from a buy rating to a hold rating in a report on Monday, August 28th. Deutsche Bank AG reiterated a buy rating and issued a $40.00 price objective on shares of Cisco Systems in a report on Wednesday, September 6th. Finally, William Blair reiterated an outperform rating on shares of Cisco Systems in a report on Monday, July 3rd. Fifteen investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $35.38.
Shares of Cisco Systems (CSCO) traded up 0.48% during mid-day trading on Friday, reaching $33.75. 15,464,652 shares of the company’s stock were exchanged. Cisco Systems has a 52-week low of $29.12 and a 52-week high of $34.60. The stock’s 50-day moving average is $32.39 and its 200-day moving average is $32.37. The stock has a market cap of $167.13 billion, a price-to-earnings ratio of 17.76 and a beta of 1.21.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The firm 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 company earned $0.63 earnings per share. The company’s quarterly revenue was down 4.0% on a year-over-year basis. On average, equities analysts expect that Cisco Systems will post $2.43 EPS for the current year.
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The company also recently announced 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 3.44%. The ex-dividend date of this dividend is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is presently 60.73%.
In other Cisco Systems news, SVP Mark D. Chandler sold 65,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $32.43, for a total transaction of $2,107,950.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Karen Walker sold 23,110 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $740,906.60. Following the transaction, the senior vice president now owns 192,774 shares in the company, valued at $6,180,334.44. The disclosure for this sale can be found here. Insiders have sold a total of 485,138 shares of company stock valued at $15,347,574 in the last three months. Insiders own 0.11% of the company’s stock.
Several institutional investors have recently bought and sold shares of CSCO. Barnett & Company Inc. boosted its holdings in shares of Cisco Systems by 1,511.5% during the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares in the last quarter. Tortoise Investment Management LLC boosted its holdings in shares of Cisco Systems by 36.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares in the last quarter. Mountain Capital Investment Advisors Inc bought a new position in shares of Cisco Systems during the 2nd quarter worth approximately $104,000. Grove Bank & Trust boosted its holdings in shares of Cisco Systems by 141.3% during the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after buying an additional 2,120 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in shares of Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after buying an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 75.38% 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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