Company Update (NASDAQ:CSCO): Cisco Systems, Inc. Declares Quarterly Cash Dividend
Cisco Systems, Inc. (NASDAQ:CSCO) announced that earlier today its Board of Directors declared a quarterly dividend of $0.21 per common share to be paid on July 22, 2015 to all shareholders of record as of the close of business on July 6, 2015.
Cisco’s previous quarterly dividend of $0.21 per common share was paid on April 22, 2015. Future dividends will be subject to Board approval. (Original Source)
Shares of Cisco closed today at $29.35, up $0.04 or 0.14%. CSCO has a 1-year high of $30.31 and a 1-year low of $22.49. The stock’s 50-day moving average is $28.85 and its 200-day moving average is $27.84.
On the ratings front, Cisco has been the subject of a number of recent research reports. In a report issued on May 19, Deutsche Bank analyst Brian Modoff maintained a Buy rating on CSCO, with a price target of $33, which implies an upside of 12% from current levels. Separately, on May 14, Sterne Agee’s Alex Kurtz downgraded the stock to Hold and has a price target of $31.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Brian Modoff and Alex Kurtz have a total average return of 13.8% and 7.1% respectively. Modoff has a success rate of 63.4% and is ranked #323 out of 3610 analysts, while Kurtz has a success rate of 62.5% and is ranked #1190.
The street is mostly Bullish on CSCO stock. Out of 10 analysts who cover the stock, 7 suggest a Buy rating and 3 recommend to Hold the stock. The 12-month average price target assigned to the stock is $32.75, which represents a potential upside of 11.6% from where the stock is currently trading.