Cisco Systems, Inc. (NASDAQ:CSCO) Declares Quarterly Dividend of $0.40

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report) announced a quarterly dividend on Wednesday, February 14th, RTT News reports. Stockholders of record on Thursday, April 4th will be paid a dividend of 0.40 per share by the network equipment provider on Wednesday, April 24th. This represents a $1.60 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend is Wednesday, April 3rd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.39.

Cisco Systems has raised its dividend payment by an average of 2.7% annually over the last three years and has raised its dividend annually for the last 13 consecutive years. Cisco Systems has a dividend payout ratio of 42.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cisco Systems to earn $3.16 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 50.6%.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $50.04 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The company has a market cap of $202.62 billion, a P/E ratio of 15.21, a PEG ratio of 2.26 and a beta of 0.87. Cisco Systems has a 52 week low of $45.56 and a 52 week high of $58.19. The company has a 50-day moving average price of $49.73 and a 200 day moving average price of $50.80.

Cisco Systems (NASDAQ:CSCOGet Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.03. The firm had revenue of $12.79 billion during the quarter, compared to the consensus estimate of $12.71 billion. Cisco Systems had a net margin of 23.49% and a return on equity of 33.01%. The firm’s revenue was down 5.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.76 earnings per share. Research analysts predict that Cisco Systems will post 3.16 earnings per share for the current year.

Insiders Place Their Bets

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Deborah L. Stahlkopf sold 3,002 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares of the company’s stock, valued at approximately $9,579,865.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares of the company’s stock, valued at $2,906,050. The disclosure for this sale can be found here. In the last three months, insiders sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

Institutional Trading of Cisco Systems

Several institutional investors have recently made changes to their positions in the stock. Fortis Capital Advisors LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $34,000. Aspect Partners LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $42,000. O Dell Group LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $59,000. Point72 Europe London LLP acquired a new position in shares of Cisco Systems during the 4th quarter valued at $62,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Cisco Systems during the 1st quarter valued at $65,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. UBS Group raised their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, February 12th. Wells Fargo & Company initiated coverage on shares of Cisco Systems in a research report on Thursday, February 15th. They set an “equal weight” rating and a $52.00 price target for the company. StockNews.com downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, February 15th. Melius downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Barclays lifted their price target on shares of Cisco Systems from $46.00 to $48.00 and gave the company an “equal weight” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.42.

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About Cisco Systems

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Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

Further Reading

Dividend History for Cisco Systems (NASDAQ:CSCO)

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