Cisco Systems, Inc. (CSCO) to Issue Quarterly Dividend of $0.29
Cisco Systems, Inc. (NASDAQ:CSCO) declared a quarterly dividend on Wednesday, September 13th, RTT News reports. Stockholders of record on Thursday, October 5th will be given a dividend of 0.29 per share by the network equipment provider on Wednesday, October 25th. This represents a $1.16 annualized dividend and a dividend yield of 3.60%.
Shares of Cisco Systems (NASDAQ:CSCO) traded down 0.71% on Wednesday, reaching $32.18. The company had a trading volume of 22,691,684 shares. The stock has a market cap of $159.35 billion, a PE ratio of 16.94 and a beta of 1.19. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.60. The stock has a 50-day moving average price of $31.62 and a 200-day moving average price of $32.48.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company’s revenue for the quarter was down 4.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. Analysts predict that Cisco Systems will post $2.43 earnings per share for the current fiscal year.
A number of analysts have commented on CSCO shares. Instinet reissued a “neutral” rating and set a $29.00 price objective on shares of Cisco Systems in a report on Monday, July 3rd. J P Morgan Chase & Co reissued a “neutral” rating on shares of Cisco Systems in a report on Monday, June 26th. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $33.39 target price on the stock in a research note on Monday, July 17th. Stifel Nicolaus set a $34.00 target price on Cisco Systems and gave the stock a “hold” rating in a research note on Tuesday, August 15th. Finally, William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Sunday, May 21st. Fourteen research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $35.57.
In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the sale, the insider now directly owns 729,305 shares in the company, valued at $22,710,557.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.11% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Cisco Systems by 2.2% during the second 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 period. Nordea Investment Management AB boosted its holdings in shares of Cisco Systems by 12.1% during the second quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock worth $982,703,000 after purchasing an additional 3,384,768 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in shares of Cisco Systems by 11.6% during the second quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock worth $862,949,000 after purchasing an additional 2,863,474 shares during the period. LSV Asset Management boosted its holdings in shares of Cisco Systems by 0.5% during the second quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock worth $859,293,000 after purchasing an additional 134,162 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Cisco Systems by 4.3% during the second quarter. Alliancebernstein L.P. now owns 23,726,384 shares of the network equipment provider’s stock worth $742,636,000 after purchasing an additional 971,153 shares during the period. Institutional investors own 74.70% of the company’s stock.
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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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