Cisco Systems (CSCO) Shares are Up 1.67%

The shares closed up +0.11 points or 3.86% at $2.96 with 21.25 million shares getting traded. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock worth $137,000 after buying an additional 35 shares in the last quarter. It has been assigned a low target price of $47 and a high target price of $60.

Shares of Cisco Systems Inc. 14 analysts have rated the company as a “Hold”. And roundups of analyst notes show that 14 are rating the stock a buy while 8 rate CSCO a strong buy. (NASDAQ:CSCO) is performing 17.29%. The Corporation has average brokerage recommendation (ABR) of 0 based on consensus of the brokerage firms issuing ratings. Recent traded volume was 2.9 million shares versus to it an average volume of 413.9 thousand shares.

Other Hedge Funds, Including, Klingenstein Fields Co boosted its stake in CSCO in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 23,505 shares of Cisco Systems which is valued at $722,074. The network equipment provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. The ratio improved, as 66 funds sold all Cisco Systems, Inc. shares owned while 601 reduced positions. That is compared with the $0.59 in earnings per share it reported during the same period past year. It also offers Zydelig, a PI3K delta inhibitor, in combination with rituximab, for the treatment of certain blood cancers; Letairis, an endothelin receptor antagonist for the treatment of pulmonary arterial hypertension; Ranexa, a tablet used for the treatment of chronic angina; Lexiscan/Rapiscan injection for use as a pharmacologic stress agent in radionuclide myocardial perfusion imaging; Cayston, an inhaled antibiotic for the treatment of respiratory systems in cystic fibrosis patients; and Tamiflu, an oral antiviral capsule for the treatment and prevention of influenza A and B. In addition, the company provides other products, such as AmBisome, an antifungal agent to treat serious invasive fungal infections; and Macugen, an anti-angiogenic oligonucleotide to treat neovascular age-related macular degeneration. The company has a market cap of $153.96 billion and the numbers of outstanding shares have been calculated to be 5.03 billion shares. Oppenheimer Holdings Inc. began coverage on shares of Cisco Systems in a report on Monday, April 11th. According to a research note published on April 5, 2016, analysts at BofA/Merrill have lowered their rating on the company stock from Buy to Neutral. JPMorgan Chase & Co. restated a “buy” rating on shares of Cisco Systems in a report on Tuesday, April 12th. The stock is performing 19.92% year to date. The Hedge Fund company now holds 33,955 shares of CSCO which is valued at $1,044,456.

For the next one year, EPS estimate is set at $2.44 by 33 analysts although a year ago the analysts recommended the company’s EPS at $2.33.

The mean price target for the shares of company is at $31.24 while the highest price target suggested by the analysts is $39.00 and low price target is $24.00.

The 20-day Simple Moving average for Cisco Systems, Inc. The stock was sold at an average price of $29.02, for a total value of $119,939.66. The disclosure for this sale can be found here. The Firm is engaged in designing, manufacturing and selling Internet Protocol (IP) networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.

Cisco System, Inc. designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet.