Cisco Systems, Inc. Announces Quarterly Dividend of $0.29 (CSCO)
Cisco Systems, Inc. (NASDAQ:CSCO) announced a quarterly dividend on Monday, December 11th, RTT News reports. Investors of record on Friday, January 5th will be paid a dividend of 0.29 per share by the network equipment provider on Wednesday, January 24th. This represents a $1.16 annualized dividend and a yield of 3.08%.
Shares of Cisco Systems (CSCO) traded up $0.21 during trading hours on Monday, reaching $37.61. The company had a trading volume of 14,044,300 shares, compared to its average volume of 20,373,373. Cisco Systems has a 1 year low of $29.73 and a 1 year high of $38.03. The company has a market cap of $185,929.63, a P/E ratio of 17.33, a price-to-earnings-growth ratio of 3.40 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 EPS. research analysts predict that Cisco Systems will post 2.21 EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Cisco Systems in the 2nd quarter valued at about $104,000. Manchester Capital Management LLC increased its position in shares of Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 350 shares during the last quarter. Ffcm LLC increased its position in shares of Cisco Systems by 2,025.0% in the second quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock valued at $117,000 after acquiring an additional 3,564 shares during the last quarter. Acrospire Investment Management LLC acquired a new stake in shares of Cisco Systems in the second quarter valued at about $141,000. Finally, Almanack Investment Partners LLC. acquired a new stake in shares of Cisco Systems in the second quarter valued at about $191,000. Institutional investors and hedge funds own 75.78% of the company’s stock.
Several equities analysts have commented on the company. JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a report on Friday, August 18th. Stifel Nicolaus set a $34.00 price target on Cisco Systems and gave the company a “hold” rating in a report on Tuesday, August 15th. Bank of America reaffirmed a “neutral” rating and issued a $35.00 price target on shares of Cisco Systems in a report on Friday, August 18th. BidaskClub raised Cisco Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price target for the company. in a report on Wednesday, August 16th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.90.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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