Cisco Systems, Inc. (NASDAQ:CSCO) announced a quarterly dividend on Thursday, September 20th, RTT News reports. Investors of record on Friday, October 5th will be given a dividend of 0.33 per share by the network equipment provider on Wednesday, October 24th. This represents a $1.32 annualized dividend and a yield of 2.89%. The ex-dividend date is Thursday, October 4th.

Cisco Systems has raised its dividend by an average of 15.2% annually over the last three years and has raised its dividend every year for the last 7 years. Cisco Systems has a dividend payout ratio of 49.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Cisco Systems to earn $2.92 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 45.2%.

Cisco Systems stock traded up $1.59 during midday trading on Friday, hitting $45.71. 35,315,760 shares of the stock were exchanged, compared to its average volume of 24,004,289. Cisco Systems has a fifty-two week low of $33.32 and a fifty-two week high of $49.47. The stock has a market cap of $234.37 billion, a P/E ratio of 19.53, a PEG ratio of 2.87 and a beta of 1.07. The company has a current ratio of 2.29, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Cisco Systems had a net margin of 0.22% and a return on equity of 22.12%. The business had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.76 billion. During the same period last year, the business earned $0.61 earnings per share. The business’s revenue for the quarter was up 5.9% on a year-over-year basis. As a group, analysts forecast that Cisco Systems will post 2.67 EPS for the current year.

In other news, EVP David Goeckeler sold 63,050 shares of Cisco Systems stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $47.57, for a total value of $2,999,288.50. Following the transaction, the executive vice president now directly owns 547,019 shares of the company’s stock, valued at approximately $26,021,693.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark D. Chandler sold 31,842 shares of the business’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $1,502,942.40. The disclosure for this sale can be found here. Insiders have sold a total of 450,620 shares of company stock valued at $21,322,282 in the last 90 days. Insiders own 0.05% of the company’s stock.

An institutional investor recently bought a new position in Cisco Systems stock. HC Financial Advisors Inc. acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 32,474 shares of the network equipment provider’s stock, valued at approximately $1,244,000. 71.44% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts have recently commented on CSCO shares. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Tuesday, July 17th. JPMorgan Chase & Co. set a $59.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Thursday, August 16th. Morgan Stanley lowered their price objective on shares of Cisco Systems from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, July 19th. BidaskClub raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, July 3rd. Finally, Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Tuesday, September 11th. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and a consensus target price of $48.76.

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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Dividend History for Cisco Systems (NASDAQ:CSCO)

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