Cisco growth continues with sales up 4% in April quarter

Daniel Fowler
May 17, 2018

The titles are as follows: "Cisco Systems Remains Top-Performing Dow Stock in 2018" announced on April 28, 2018, "Walmart, Cisco, Macy's and More Major Earnings Coming This Week" on May 13, 2018, "Cisco Expects Another Quarter of Growth" with a publish date: May 15, 2018, "Cisco Still Holds Rank as Top Performing Dow Stock" and the last "Can Cisco Keep Up the Pace With Earnings?" with publication date: May 16, 2018. The company is expected to issue its next quarterly earnings results after the market closes on Wednesday, May 16th. The new box, part of a range that connects computers together into networks, also includes a software subscription, helping Cisco to pull in more revenue even after selling it, according to Raymond James & Co. analyst Simon Leopold. The highest sales estimate is $12.54 billion and the lowest is $12.34 billion. (NASDAQ:CSCO) has 32 ratings reports on 16 May 2018 according to StockzIntelligence. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.59 by $0.04.

Cisco Systems, Inc. registered $10.28 million net activity with 0 insider purchases and 5 sales since December 14, 2017. Total service revenue rose 3 percent, while product revenues were up 5 percent in the quarter. The institutional investor bought 18,401 shares of the network equipment provider's stock, valued at approximately $705,000. Excluding certain items, profit was 66 cents a share. The stock now has an average rating of "Buy" and a consensus price target of $44.26. Macquarie initiated coverage on shares of Cisco Systems in a research report on Monday. The stock presently has an average rating of "Buy" and an average target price of $45.20. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company. The company has an average rating of "Buy" and a consensus price target of $44.26.

In other news, Director Arun Sarin sold 14,189 shares of the stock in a transaction that occurred on Tuesday, February 20th. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Recently, the company also completed the acquisition formalities for adding the artificial intelligence-based venture "Accompany" to its list of mergers. The disclosure for this sale can be found here. Whittier Tru Of Nevada Incorporated invested in 0.67% or 203,351 shs.

Want to see what other hedge funds are holding CSCO? Operating expenses for the quarter were $4.6 billion GAAP and $4.0 billion non-GAAP.

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Cisco Systems Inc. may finally be turning the corner, but not fast enough for its investors. 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 about 2.8% of Cypress Capital Management LLC's holdings, making the stock its 4th biggest position. Partnervest Advisory Services LLC now owns 18,184 shares of the network equipment provider's stock valued at $696,000 after acquiring an additional 1,221 shares during the period. Finally, Delphi Private Advisors LLC raised its holdings in Cisco Systems by 307.8% during the 4th quarter. Geode Capital Management LLC now owns 55,764,986 shares of the network equipment provider's stock valued at $2,131,581,000 after acquiring an additional 909,507 shares during the last quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider's stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares during the last quarter.

NASDAQ CSCO traded down $0.32 during trading hours on Friday, hitting $45.16. The stock had a trading volume of 16,862,618 shares, compared to its average volume of 27,889,234. (NASDAQ:CSCO). Moreover, Puzo Michael J has 0.19% invested in Cisco Systems, Inc. For the most recent quarter, quick ratio was 2.4, current ratio was 2.4, LT Debt/Equity ratio was 0.49 and Total Debt/Equity ratio stands at 0.76, while Payout ratio is 0. The firm has a market capitalization of $215,391.23, a P/E ratio of 20.85, a P/E/G ratio of 3.20 and a beta of 1.14. This represents a $1.32 annualized dividend and a dividend yield of 2.87%. Cisco Systems's dividend payout ratio (DPR) is now 61.40%.

Cisco Systems declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 14th that permits the company to buyback $25.00 billion in shares. This repurchase authorization authorizes the network equipment provider to repurchase shares of its stock through open market purchases.

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