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

Cisco Systems, Inc. (NASDAQ:CSCOGet Free Report) announced a quarterly dividend on Wednesday, May 15th, RTT News reports. Stockholders of record on Friday, July 5th will be paid a dividend of 0.40 per share by the network equipment provider on Wednesday, July 24th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.31%.

Cisco Systems has raised its dividend by an average of 2.7% per year over the last three years and has increased its dividend every year for the last 13 years. Cisco Systems has a payout ratio of 42.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Cisco Systems to earn $3.10 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 51.6%.

Cisco Systems Trading Down 2.7 %

Shares of Cisco Systems stock opened at $48.34 on Friday. The stock has a 50 day moving average of $48.72 and a 200 day moving average of $49.55. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.26 and a current ratio of 1.37. The firm has a market capitalization of $195.74 billion, a price-to-earnings ratio of 16.28, a PEG ratio of 2.87 and a beta of 0.87. Cisco Systems has a fifty-two week low of $45.70 and a fifty-two week high of $58.19.

Cisco Systems (NASDAQ:CSCOGet Free Report) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. The business had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. Cisco Systems had a return on equity of 30.91% and a net margin of 21.88%. The company’s revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.88 EPS. As a group, research analysts predict that Cisco Systems will post 3.13 earnings per share for the current year.

Insider Buying and Selling at Cisco Systems

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. 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. JPMorgan Chase & Co. began coverage on Cisco Systems in a research report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price target on Cisco Systems from $51.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 9th. Morgan Stanley initiated coverage on Cisco Systems in a report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $56.36.

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Cisco Systems Company Profile

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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.

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Dividend History for Cisco Systems (NASDAQ:CSCO)

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