Published On: Sat, Sep 17th, 2016

Cisco Systems Inc. (CSCO) Lowered to “Hold” at Vetr Inc.

Cisco Systems Inc. (NASDAQ:CSCO) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday. They presently have a $32.05 price objective on the network equipment provider’s stock. Vetr‘s target price suggests a potential upside of 3.91% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Piper Jaffray Cos. reissued a “buy” rating on shares of Cisco Systems in a research report on Thursday, May 19th. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Thursday, May 19th. Citigroup Inc. reaffirmed a “buy” rating on shares of Cisco Systems in a research report on Thursday, May 19th. Deutsche Bank AG lowered their price target on shares of Cisco Systems from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. Finally, Jefferies Group upped their price target on shares of Cisco Systems from $27.50 to $30.75 and gave the stock a “buy” rating in a research report on Thursday, May 19th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twenty-four have assigned a buy rating to the company’s stock. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $31.97.
Shares of Cisco Systems (NASDAQ:CSCO) opened at 30.84 on Tuesday. Cisco Systems has a 12 month low of $22.46 and a 12 month high of $31.95. The company’s 50 day moving average is $31.09 and its 200 day moving average is $29.01. The company has a market cap of $154.64 billion, a P/E ratio of 14.62 and a beta of 1.37.

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Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.03. The company earned $12.60 billion during the quarter, compared to analysts’ expectations of $12.57 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS. On average, equities research analysts predict that Cisco Systems will post $2.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Stockholders of record on Wednesday, October 5th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, October 3rd. This represents a $1.04 annualized dividend and a dividend yield of 3.37%. Cisco Systems’s dividend payout ratio is presently 49.06%.
In related news, Director Roderick C. Mcgeary sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $30.91, for a total value of $463,650.00. Following the completion of the sale, the director now owns 140,595 shares in the company, valued at approximately $4,345,791.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Pankaj Patel sold 4,133 shares of the company’s stock in a transaction on Monday, June 20th. The shares were sold at an average price of $29.02, for a total transaction of $119,939.66. Following the completion of the sale, the executive vice president now owns 359,174 shares of the company’s stock, valued at approximately $10,423,229.48. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Mercer Capital Advisers Inc. increased its stake in Cisco Systems by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock valued at $137,000 after buying an additional 35 shares during the period. Pinnacle Holdings LLC increased its stake in Cisco Systems by 0.5% in the first quarter. Pinnacle Holdings LLC now owns 16,009 shares of the network equipment provider’s stock valued at $456,000 after buying an additional 81 shares during the period. Moody Lynn & Lieberson LLC increased its stake in Cisco Systems by 0.6% in the second quarter. Moody Lynn & Lieberson LLC now owns 13,890 shares of the network equipment provider’s stock valued at $399,000 after buying an additional 83 shares during the period. Crawford Investment Counsel Inc. increased its stake in Cisco Systems by 1.1% in the second quarter. Crawford Investment Counsel Inc. now owns 8,601 shares of the network equipment provider’s stock valued at $247,000 after buying an additional 95 shares during the period. Finally, Hayek Kallen Investment Management increased its stake in Cisco Systems by 1.4% in the second quarter. Hayek Kallen Investment Management now owns 7,206 shares of the network equipment provider’s stock valued at $207,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 75.04% of the company’s stock.
Cisco Systems Company Profile
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

To view Vetr’s full report, visit Vetr’s official website.

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