Today The Cisco Systems’ (CSCO) “Overweight” Rating Reaffirmed at Pacific Crest

Today The Cisco Systems’ (CSCO) “Overweight” Rating Reaffirmed at Pacific Crest

Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “overweight” rating reaffirmed by equities researchers at Pacific Crest in a note issued to investors on Wednesday.

A number of other equities analysts have also weighed in on CSCO. Vetr upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $35.44 price objective on the stock in a research report on Monday, October 3rd. JMP Securities reiterated a “market perform” rating on shares of Cisco Systems in a research report on Wednesday, October 5th. Deutsche Bank AG reiterated a “buy” rating and issued a $37.00 price objective on shares of Cisco Systems in a research report on Monday, October 17th. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Tuesday, October 18th. Finally, Robert W. Baird reiterated a “buy” rating on shares of Cisco Systems in a research report on Wednesday, November 2nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-two have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $32.71.

Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.5667% during mid-day trading on Wednesday, reaching $30.7734. 7,847,795 shares of the company were exchanged. The stock has a 50 day moving average price of $30.27 and a 200-day moving average price of $30.64. Cisco Systems has a 12 month low of $22.46 and a 12 month high of $31.95. The stock has a market capitalization of $154.48 billion, a P/E ratio of 14.7241 and a beta of 1.38.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.02. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.34 billion. During the same period last year, the firm posted $0.59 EPS. Cisco Systems’s quarterly revenue was down 2.6% on a year-over-year basis. Analysts predict that Cisco Systems will post $2.37 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Friday, January 6th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, January 4th. This represents a $1.04 annualized dividend and a dividend yield of 3.40%. Cisco Systems’s payout ratio is 49.52%.

In other news, SVP Karen Walker sold 1,793 shares of the stock in a transaction on Friday, December 23rd. The stock was sold at an average price of $30.41, for a total value of $54,525.13. Following the completion of the transaction, the senior vice president now owns 183,275 shares of the company’s stock, valued at $5,573,392.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CSCO. RS Investment Management Co. LLC boosted its position in shares of Cisco Systems by 18.7% in the second quarter. RS Investment Management Co. LLC now owns 28,333 shares of the network equipment provider’s stock valued at $813,000 after buying an additional 4,458 shares in the last quarter. Rockefeller Financial Services Inc. boosted its position in shares of Cisco Systems by 12.8% in the second quarter. Rockefeller Financial Services Inc. now owns 439,424 shares of the network equipment provider’s stock valued at $12,607,000 after buying an additional 50,020 shares in the last quarter. Franklin Street Advisors Inc. NC boosted its position in shares of Cisco Systems by 3.0% in the third quarter. Franklin Street Advisors Inc. NC now owns 359,679 shares of the network equipment provider’s stock valued at $11,409,000 after buying an additional 10,602 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Cisco Systems by 178.7% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 9,791,742 shares of the network equipment provider’s stock valued at $280,925,000 after buying an additional 6,278,187 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Cisco Systems by 81.6% in the third quarter. Oregon Public Employees Retirement Fund now owns 1,703,905 shares of the network equipment provider’s stock valued at $54,048,000 after buying an additional 765,452 shares in the last quarter. 75.41% of the stock is owned by institutional investors.

Cisco Systems Company Profile

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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