During the three months that ended April 28, Cisco earned 66 cents a share, on $12.5 billion in sales, which topped analysts' expectations for Cisco to earn 65 cents a share, on revenue of $12.44 billion.
However, Wall Street analysts had forecast Cisco to earn 69 cents a share, on $12.72 billion for its fourth quarter. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, May 16th. Bernstein maintained the shares of CSCO in report on Tuesday, September 1 with "Buy" rating. (NASDAQ:CSCO). Chatham Capital Gru holds 2.35% of its capital in Cisco Systems, Inc. This buyback authorization authorizes the network equipment provider to buy shares of its stock through open market purchases.
Cisco Systems, Inc. registered $10.28 million net activity with 0 buys and 5 insider sales since December 14, 2017. Application revenue rose 19 percent, to $1.3 billion, and security revenue rose 11 percent, to $583 million.
Several analysts have recently issued reports on the stock. Credit Suisse Group assumed coverage on Cisco Systems in a research report on Wednesday, May 9th. He has an outperform rating and a $50 price target in place on Cisco, and he shared some thoughts on the company's new model in a note to clients. The stock of Cisco Systems, Inc. Barclays boosted their price target on Cisco Systems from $37.00 to $45.00 and gave the stock an "overweight" rating in a report on Wednesday, January 17th. Royal Bank of Canada reissued a "buy" rating and set a $44.00 price objective on shares of Cisco Systems in a research report on Monday, February 12th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company's stock. In Tuesday, February 13 report Citigroup maintained it with "Buy" rating and $46 target.
In other news, Director M Michele Burns sold 12,126 shares of the business's stock in a transaction dated Monday, February 26th. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,986 shares of company stock valued at $2,116,422.
A number of institutional investors and hedge funds have recently made changes to their positions in CSCO. Rothschild Investment Corp IL lifted its holdings in Cisco Systems by 1.9% during the 4th quarter. Mizuho Securities USA LLC now owns 18,506 shares of the network equipment provider's stock worth $709,000 after buying an additional 3,199 shares during the period.
"(Cisco) needs to continue to aggressively pursue acquisition while also showing that it is utilizing acquired technologies to advance its own portfolio and support growth", said CFRA Research analyst Keith Snyder. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider's stock worth $2,109,614,000 after purchasing an additional 11,972,070 shares during the last quarter. Cisco Systems makes up 1.0% of Motco's portfolio, making the stock its 23rd largest holding. Goodman Financial Corp acquired a new stake in Cisco Systems in the 4th quarter worth about $115,000.
Before the company provided its outlook for the current period, the stock had surged 32 percent in a year, last week reaching the highest price in more than 17 years. Fort Lp has cut its stake in Verisign Inc (NASDAQ:VRSN) and also reduced its holding in Abbvie Inc (NYSE:ABBV) by 33,785 shares in the quarter, for a total of 96,912 shares. These funds own 3.54 billion shares, that's down from 3.60 billion shares in 2017Q3. They had declined 0.7 percent, to $45.16, in regular trading. 30,210,902 shares of the company were exchanged, compared to its average volume of 27,168,168.
Cisco Systems, Inc. (CSCO)'s RSI (Relative strength index) is at 54.79, its ATR (Average True Range) value is 0.94, while its Beta factor was calculated at 1.11. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.43. Cibc Asset Mngmt stated it has 0.16% of its capital in Cisco Systems, Inc. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.91%. Cisco Systems, Inc.'s institutional ownership is 78.8%, while its institutional transactions stand at -0.46%. Cisco Systems's dividend payout ratio (DPR) is now 61.40%.
Cisco Systems declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 14th that permits the company to buyback $25.00 billion in shares.