Cisco Systems (CSCO) Raised to Hold at Vetr

Vetr upgraded shares of Cisco Systems (NASDAQ:CSCO) from a sell rating to a hold rating in a report issued on Wednesday, December 27th. They currently have $38.01 price objective on the network equipment provider’s stock.

A number of other research firms have also recently issued reports on CSCO. Royal Bank of Canada restated a buy rating and issued a $36.00 price objective on shares of Cisco Systems in a research report on Wednesday, November 15th. BMO Capital Markets restated a hold rating and issued a $32.00 price objective on shares of Cisco Systems in a research report on Thursday, September 28th. Deutsche Bank restated a buy rating and issued a $40.00 price objective on shares of Cisco Systems in a research report on Wednesday, September 6th. Credit Suisse Group restated an outperform rating on shares of Cisco Systems in a research report on Thursday, August 31st. Finally, Oppenheimer restated a buy rating and issued a $36.00 price objective on shares of Cisco Systems in a research report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Buy and an average price target of $37.93.

Cisco Systems (NASDAQ CSCO) traded up $0.19 during trading on Wednesday, reaching $40.10. 21,685,277 shares of the company’s stock traded hands, compared to its average volume of 21,772,518. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The company has a market capitalization of $198,240.00, a P/E ratio of 20.78, a PEG ratio of 3.57 and a beta of 1.19. Cisco Systems has a 1-year low of $29.80 and a 1-year high of $40.24.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The business had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. analysts predict that Cisco Systems will post 2.21 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Friday, January 5th will be given a dividend of $0.29 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a yield of 2.89%. Cisco Systems’s dividend payout ratio (DPR) is 60.10%.

In other Cisco Systems news, SVP Karen Walker sold 5,786 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $211,131.14. Following the transaction, the senior vice president now directly owns 176,418 shares in the company, valued at $6,437,492.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $95,092.94. Following the completion of the transaction, the chief accounting officer now owns 89,184 shares in the company, valued at $3,254,324.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CSCO. Madrona Financial Services LLC increased its stake in shares of Cisco Systems by 2.1% in the first quarter. Madrona Financial Services LLC now owns 7,407 shares of the network equipment provider’s stock worth $250,000 after purchasing an additional 153 shares in the last quarter. Insight 2811 Inc. increased its stake in shares of Cisco Systems by 5.6% in the first quarter. Insight 2811 Inc. now owns 13,285 shares of the network equipment provider’s stock worth $449,000 after purchasing an additional 710 shares in the last quarter. NewFocus Financial Group LLC increased its stake in shares of Cisco Systems by 1.3% in the first quarter. NewFocus Financial Group LLC now owns 158,045 shares of the network equipment provider’s stock worth $5,342,000 after purchasing an additional 2,004 shares in the last quarter. MUFG Americas Holdings Corp increased its stake in shares of Cisco Systems by 1.6% in the first quarter. MUFG Americas Holdings Corp now owns 733,247 shares of the network equipment provider’s stock worth $24,784,000 after purchasing an additional 11,451 shares in the last quarter. Finally, Thomaspartners Inc. increased its stake in shares of Cisco Systems by 7.6% in the first quarter. Thomaspartners Inc. now owns 6,137,587 shares of the network equipment provider’s stock worth $207,450,000 after purchasing an additional 431,160 shares in the last quarter. Institutional investors and hedge funds own 75.55% of the company’s stock.

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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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