Cisco Systems, Inc. (CSCO) Announces Quarterly Dividend of $0.19
Cisco Systems (NASDAQ:CSCO) declared a quarterly dividend on Tuesday, August 26th, Analyst Ratings.Net reports. Investors of record on Thursday, October 2nd will be given a dividend of 0.19 per share on Wednesday, October 22nd. This represents a $0.76 dividend on an annualized basis and a yield of 3.06%.
A number of analysts have recently weighed in on CSCO shares. Analysts at Zacks reiterated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, August 14th. They now have a $26.00 price target on the stock. On the ratings front, analysts at Sterne Agee raised their price target on shares of Cisco Systems from $26.00 to $28.00 in a research note on Thursday, August 14th. They now have a “buy” rating on the stock. Finally, analysts at Cowen and Company raised their price target on shares of Cisco Systems from $30.00 to $33.00 in a research note on Thursday, August 14th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $26.60.
Cisco Systems (NASDAQ:CSCO) traded up 0.45% on Tuesday, hitting $24.81. 17,053,448 shares of the company’s stock traded hands. Cisco Systems has a 52-week low of $20.22 and a 52-week high of $26.08. The stock’s 50-day moving average is $25.26 and its 200-day moving average is $23.77. The company has a market cap of $127.1 billion and a price-to-earnings ratio of 16.58. Cisco Systems also saw a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 63,934,683 shares, a drop of 11.4% from the July 31st total of 72,138,151 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average trading volume of 29,353,698 shares, the short-interest ratio is currently 2.2 days.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.53 by $0.02. The company had revenue of $12.40 million for the quarter, compared to the consensus estimate of $12.14 billion. Analysts expect that Cisco Systems will post $2.16 EPS for the current fiscal year.
In other Cisco Systems news, EVP Wim Elfrink sold 25,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $24.94, for a total value of $623,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Cisco Systems, Inc (NASDAQ:CSCO) designs, manufactures, and sells Internet protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.
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