Cisco Systems, Inc. (NASDAQ:CSCO – Get Free Report) declared a quarterly dividend on Wednesday, August 14th, Zacks reports. Stockholders of record on Wednesday, October 2nd will be paid a dividend of 0.40 per share by the network equipment provider on Wednesday, October 23rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Wednesday, October 2nd.
Cisco Systems has raised its dividend payment by an average of 2.7% per year over the last three years and has raised its dividend annually for the last 13 consecutive years. Cisco Systems has a payout ratio of 45.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cisco Systems to earn $2.90 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 55.2%.
Cisco Systems Stock Up 6.8 %
Shares of CSCO stock opened at $48.53 on Friday. The stock’s 50-day simple moving average is $46.67 and its 200-day simple moving average is $47.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The firm has a market capitalization of $195.52 billion, a PE ratio of 16.34, a P/E/G ratio of 2.97 and a beta of 0.85. Cisco Systems has a fifty-two week low of $44.50 and a fifty-two week high of $58.19.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last announced its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. Equities analysts expect that Cisco Systems will post 3.14 earnings per share for the current year.
Analyst Ratings Changes
Several analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Piper Sandler reiterated a “neutral” rating and set a $52.00 price target on shares of Cisco Systems in a research report on Thursday. JPMorgan Chase & Co. increased their price target on Cisco Systems from $53.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Finally, Oppenheimer increased their price target on Cisco Systems from $54.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday, May 16th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.70.
View Our Latest Research Report on Cisco Systems
Insiders Place Their Bets
In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the sale, the senior vice president now owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the completion of the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 26,331 shares of Cisco Systems stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $46.10, for a total value of $1,213,859.10. Following the completion of the sale, the chief executive officer now directly owns 725,363 shares of the company’s stock, valued at $33,439,234.30. The disclosure for this sale can be found here. Insiders sold a total of 33,090 shares of company stock valued at $1,522,231 over the last quarter. 0.02% of the stock is owned by insiders.
About Cisco Systems
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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