Drexel Hamilton Reiterates “Buy” Rating for Cisco Systems, Inc. (CSCO)

Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reaffirmed by analysts at Drexel Hamilton in a research note issued on Sunday. They presently have a $39.00 target price on the network equipment provider’s stock. Drexel Hamilton’s price objective suggests a potential upside of 21.53% from the stock’s current price.

CSCO has been the topic of several other reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a research note on Tuesday, June 13th. Morgan Stanley set a $39.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a report on Monday, May 29th. Jefferies Group LLC restated a “buy” rating and set a $37.00 target price on shares of Cisco Systems in a report on Friday, May 26th. Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $35.13 price target on the stock. in a research note on Monday, May 22nd. Finally, Raymond James Financial, Inc. reiterated an “outperform” rating and issued a $36.00 price target on shares of Cisco Systems in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-two have issued a buy rating to the company. Cisco Systems has an average rating of “Buy” and an average target price of $35.15.

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Cisco Systems (NASDAQ CSCO) traded up 0.75% during mid-day trading on Friday, reaching $32.09. 25,792,153 shares of the company’s stock were exchanged. The stock has a market cap of $160.45 billion, a price-to-earnings ratio of 16.29 and a beta of 1.23. The company has a 50-day moving average of $32.44 and a 200-day moving average of $32.24. Cisco Systems has a 52-week low of $27.13 and a 52-week high of $34.60. Cisco Systems also saw some unusual options trading activity on Friday. Stock traders bought 22,161 put options on the company. This represents an increase of 202% compared to the typical volume of 7,346 put options.

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

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Stockholders of record on Friday, July 7th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.61%. The ex-dividend date of this dividend is Wednesday, July 5th. Cisco Systems’s dividend payout ratio is presently 58.29%.

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In other news, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total value of $2,943,956.40. Following the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 24th. The stock was 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. Insiders sold 396,179 shares of company stock worth $12,503,407 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. Atlantic Trust LLC raised its position in Cisco Systems by 5.2% in the first quarter. Atlantic Trust LLC now owns 99,980 shares of the network equipment provider’s stock worth $3,379,000 after buying an additional 4,904 shares during the period. Laurel Wealth Advisors Inc. raised its position in Cisco Systems by 6.3% in the first quarter. Laurel Wealth Advisors Inc. now owns 88,847 shares of the network equipment provider’s stock worth $3,002,000 after buying an additional 5,303 shares during the period. Perigon Wealth Management LLC raised its position in Cisco Systems by 9.4% in the first quarter. Perigon Wealth Management LLC now owns 173,311 shares of the network equipment provider’s stock worth $5,858,000 after buying an additional 14,920 shares during the period. Watermark Asset Management Inc. bought a new position in Cisco Systems during the first quarter worth $122,000. Finally, Franklin Parlapiano Turner & Welch LLC bought a new position in Cisco Systems during the first quarter worth $4,730,000. 76.13% of the stock is currently owned by 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).new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:CSCO”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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