Oppenheimer Holdings, Inc. Reiterates “Buy” Rating for Cisco Systems, Inc. (CSCO)
Oppenheimer Holdings, Inc. reaffirmed their buy rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a report released on Tuesday morning. Oppenheimer Holdings, Inc. currently has a $36.00 price target on the network equipment provider’s stock.
A number of other equities analysts also recently commented on the company. Needham & Company LLC restated a hold rating on shares of Cisco Systems in a report on Tuesday, October 24th. Berenberg Bank reiterated a hold rating and set a $33.00 target price on shares of Cisco Systems in a report on Tuesday, October 24th. BMO Capital Markets reiterated a hold rating and set a $32.00 target price on shares of Cisco Systems in a report on Monday, October 23rd. Zacks Investment Research downgraded Cisco Systems from a hold rating to a sell rating in a report on Tuesday, October 17th. Finally, KeyCorp set a $33.00 target price on Cisco Systems and gave the company a buy rating in a report on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $35.26.
Cisco Systems (NASDAQ:CSCO) opened at $34.47 on Tuesday. The company has a quick ratio of 2.98, a current ratio of 3.03 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $169.40 billion, a P/E ratio of 15.77, a PEG ratio of 2.99 and a beta of 1.15.
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, hitting analysts’ consensus estimates of $0.61. The company had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company’s quarterly revenue was down 4.0% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. analysts forecast that Cisco Systems will post 2.18 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.37%. Cisco Systems’s dividend payout ratio (DPR) is presently 60.73%.
In related news, CAO Prat Bhatt sold 25,638 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the transaction, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 121,390 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $3,891,763.40. Following the transaction, the chief executive officer now directly owns 552,694 shares of the company’s stock, valued at approximately $17,719,369.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 485,138 shares of company stock valued at $15,347,574. 0.05% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Wrapmanager Inc. acquired a new position in shares of Cisco Systems during the 3rd quarter worth about $371,000. Courier Capital LLC lifted its position in shares of Cisco Systems by 187.3% during the 3rd quarter. Courier Capital LLC now owns 271,082 shares of the network equipment provider’s stock worth $9,116,000 after purchasing an additional 176,725 shares during the last quarter. Stevens First Principles Investment Advisors lifted its position in shares of Cisco Systems by 20.4% during the 3rd quarter. Stevens First Principles Investment Advisors now owns 29,395 shares of the network equipment provider’s stock worth $989,000 after purchasing an additional 4,975 shares during the last quarter. Suffolk Capital Management LLC acquired a new position in shares of Cisco Systems during the 3rd quarter worth about $11,736,000. Finally, FDx Advisors Inc. lifted its position in shares of Cisco Systems by 13.0% during the 3rd quarter. FDx Advisors Inc. now owns 380,759 shares of the network equipment provider’s stock worth $12,805,000 after purchasing an additional 43,835 shares during 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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