Vetr Inc. Lowers Cisco Systems, Inc. (CSCO) to Hold

Vetr lowered shares of Cisco Systems, Inc. (NASDAQ:CSCO) from a buy rating to a hold rating in a report published on Monday morning. They currently have $33.12 price target on the network equipment provider’s stock.

A number of other equities research analysts also recently commented on CSCO. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the company a hold rating in a research report on Saturday, July 1st. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the company a buy rating in a research report on Saturday, July 1st. Cowen and Company reiterated an outperform rating and set a $39.00 price objective on shares of Cisco Systems in a research report on Tuesday, July 4th. BidaskClub upgraded Cisco Systems from a hold rating to a buy rating in a research report on Wednesday, June 28th. Finally, William Blair reiterated an outperform rating on shares of Cisco Systems in a research report on Sunday, May 21st. Thirteen research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $35.31.

Cisco Systems (NASDAQ:CSCO) opened at 31.86 on Monday. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $34.60. The firm has a market capitalization of $159.30 billion, a PE ratio of 16.17 and a beta of 1.24. The stock has a 50 day moving average price of $31.56 and a 200-day moving average price of $32.43.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The firm had revenue of $11.94 billion during the quarter, compared to analyst estimates of $11.90 billion. During the same period last year, the company posted $0.57 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that Cisco Systems will post $2.38 EPS for the current year.

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The business 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 $0.29 dividend. The ex-dividend date is Wednesday, July 5th. This represents a $1.16 annualized dividend and a yield of 3.64%. Cisco Systems’s dividend payout ratio is currently 58.29%.

In other Cisco Systems news, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total transaction of $244,124.58. Following the sale, the senior vice president now directly owns 178,577 shares in the company, valued at $5,587,674.33. The disclosure for this sale can be found here. Insiders sold a total of 396,179 shares of company stock worth $12,503,407 over the last ninety days. 0.11% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the company. Nicholas Co. Inc. WI raised its position in Cisco Systems by 0.3% in the fourth quarter. Nicholas Co. Inc. WI now owns 2,596,895 shares of the network equipment provider’s stock valued at $78,478,000 after buying an additional 8,685 shares in the last quarter. Credit Agricole S A raised its position in Cisco Systems by 7.7% in the fourth quarter. Credit Agricole S A now owns 7,796,583 shares of the network equipment provider’s stock valued at $235,613,000 after buying an additional 554,355 shares in the last quarter. Northwest Quadrant Wealth Management LLC purchased a new position in Cisco Systems during the fourth quarter valued at $335,000. Diligent Investors LLC purchased a new position in Cisco Systems during the fourth quarter valued at $1,369,000. Finally, Pacad Investment Ltd. raised its position in Cisco Systems by 257.8% in the fourth quarter. Pacad Investment Ltd. now owns 102,526 shares of the network equipment provider’s stock valued at $3,098,000 after buying an additional 73,870 shares in the last quarter. 75.39% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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