BidaskClub upgraded shares of Cisco Systems (NASDAQ:CSCO) from a hold rating to a buy rating in a report released on Tuesday, BidAskClub reports.
CSCO has been the topic of several other reports. Zacks Investment Research cut HENGAN INTL GRP/ADR from a strong-buy rating to a hold rating in a report on Tuesday, May 21st. Jefferies Financial Group upped their target price on Nice to $166.00 and gave the company a buy rating in a report on Thursday, May 16th. William Blair cut Medidata Solutions from an outperform rating to a market perform rating in a report on Wednesday, June 12th. Goldman Sachs Group upped their target price on MEG Energy from C$6.00 to C$7.00 in a report on Tuesday, April 16th. Finally, UBS Group set a $13.00 target price on Freeport-McMoRan and gave the company a hold rating in a report on Wednesday, June 26th. Six equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $56.30.
Shares of Cisco Systems stock traded up $0.15 on Tuesday, hitting $57.89. The stock had a trading volume of 2,662,236 shares, compared to its average volume of 22,958,826. The company has a 50 day moving average of $55.83. Cisco Systems has a twelve month low of $40.25 and a twelve month high of $58.26. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $244.90 billion, a price-to-earnings ratio of 24.74, a P/E/G ratio of 2.92 and a beta of 1.17.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The company had revenue of $12.96 billion during the quarter, compared to the consensus estimate of $12.89 billion. During the same quarter in the prior year, the firm posted $0.66 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. On average, equities analysts anticipate that Cisco Systems will post 2.8 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Wednesday, July 3rd. Cisco Systems’s payout ratio is 59.83%.
In other news, Director Wesley G. Bush bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were bought at an average cost of $55.74 per share, for a total transaction of $557,400.00. Following the acquisition, the director now directly owns 3,017 shares in the company, valued at $168,167.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Chandler sold 1,379 shares of the stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $55.94, for a total value of $77,141.26. The disclosure for this sale can be found here. Insiders have sold a total of 95,129 shares of company stock worth $5,159,754 over the last 90 days. Company insiders own 0.03% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of CSCO. Horan Securities Inc. lifted its holdings in shares of Cisco Systems by 663.0% in the 4th quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock worth $33,000 after purchasing an additional 663 shares in the last quarter. Evolution Wealth Advisors LLC purchased a new stake in Cisco Systems in the 2nd quarter valued at $33,000. Lowe Wealth Advisors LLC purchased a new stake in Cisco Systems in the 2nd quarter valued at $38,000. Contravisory Investment Management Inc. purchased a new stake in Cisco Systems in the 4th quarter valued at $49,000. Finally, Highwater Wealth Management LLC purchased a new stake in Cisco Systems in the 4th quarter valued at $51,000. Institutional investors own 74.47% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
See Also: Gross Domestic Product (GDP)
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