Cisco Systems, Inc. (NASDAQ:CSCO) announced a quarterly dividend on Wednesday, September 9th, RTT News reports. Investors of record on Friday, October 2nd will be paid a dividend of 0.36 per share by the network equipment provider on Wednesday, October 21st. This represents a $1.44 dividend on an annualized basis and a yield of 3.59%.
Cisco Systems has increased its dividend payment by 39.4% over the last three years and has raised its dividend annually for the last 6 consecutive years.
CSCO traded up $0.13 on Wednesday, reaching $40.13. 23,296,645 shares of the company traded hands, compared to its average volume of 26,066,395. Cisco Systems has a one year low of $32.40 and a one year high of $50.30. The firm has a fifty day simple moving average of $44.52 and a two-hundred day simple moving average of $43.38. The company has a market cap of $169.89 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 2.33 and a beta of 0.84. The company has a quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.31.
In other Cisco Systems news, CFO Kelly A. Kramer sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $42.01, for a total transaction of $1,890,450.00. Also, CAO Prat Bhatt sold 5,703 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $44.87, for a total transaction of $255,893.61. Following the sale, the chief accounting officer now directly owns 85,613 shares in the company, valued at approximately $3,841,455.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 65,869 shares of company stock worth $2,785,806. 0.03% of the stock is owned by insiders.
A number of equities research analysts recently weighed in on the stock. Wolfe Research started coverage on shares of Cisco Systems in a report on Friday, July 24th. They set an “outperform” rating and a $54.00 price objective for the company. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, May 14th. Robert W. Baird restated a “hold” rating and issued a $48.00 price target on shares of Cisco Systems in a report on Monday, August 10th. Wells Fargo & Company boosted their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Finally, Citigroup boosted their price target on shares of Cisco Systems from $40.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, May 14th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Hold” and a consensus target price of $49.39.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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