Vetr Inc. Upgrades Cisco Systems, Inc. (CSCO) to “Buy”
Vetr upgraded shares of Cisco Systems, Inc. (NASDAQ:CSCO) from a hold rating to a buy rating in a research report released on Monday morning. They currently have $33.39 target price on the network equipment provider’s stock.
CSCO has been the subject of several other research reports. Robert W. Baird reiterated a buy rating on shares of Cisco Systems in a research note on Thursday, May 18th. Drexel Hamilton reiterated a buy rating and set a $40.00 price target on shares of Cisco Systems in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $36.00 price target on shares of Cisco Systems in a research note on Monday, June 26th. Jefferies Group LLC reiterated a buy rating and set a $37.00 price target on shares of Cisco Systems in a research note on Wednesday, April 26th. Finally, BidaskClub upgraded Cisco Systems from a hold rating to a buy rating in a research note on Wednesday, June 28th. Twelve investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Cisco Systems presently has an average rating of Buy and an average price target of $35.32.
Cisco Systems (NASDAQ CSCO) traded up 0.03% during trading on Monday, reaching $31.87. 5,563,683 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $31.56 and its 200-day moving average price is $32.39. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.60. The firm has a market cap of $159.35 billion, a price-to-earnings ratio of 16.18 and a beta of 1.24.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.02. The company had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 EPS. On average, equities research analysts anticipate that Cisco Systems will post $2.38 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is presently 58.29%.
In related news, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the sale, the senior vice president now owns 271,725 shares in the company, valued at $8,616,399.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total value of $9,315,326.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 396,179 shares of company stock valued at $12,503,407. 0.11% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Watermark Asset Management Inc. bought a new stake in shares of Cisco Systems during the first quarter worth approximately $122,000. Seven Eight Capital LP bought a new stake in shares of Cisco Systems during the fourth quarter worth approximately $112,000. Financial Management Professionals Inc. boosted its stake in shares of Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock worth $118,000 after buying an additional 635 shares during the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Cisco Systems during the fourth quarter worth approximately $128,000. Finally, Jackson Grant Investment Advisers Inc. boosted its stake in shares of Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock worth $128,000 after buying an additional 4,150 shares during the last quarter. Institutional investors own 75.30% 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).
To view Vetr’s full report, visit Vetr’s official website.
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