Cisco Systems, Inc (NASDAQ:CSCO) stock hiked 9% on Thursday as a dividend boost and share repurchases plan overshadowed remarks that business conditions in Europe would not boost anytime soon for the network equipment manufacturer.
Cisco Systems joins a league of technology corporations like Apple Inc (NASDAQ:AAPL), Intel Corporation (NASDAQ:INTC), Dell Inc (NASDAQ:DELL) and Hewlett-Packard Company (NYSE:HPQ) that have been returning additional cash to shareholders over the previous few quarters.
Shares of the company, which have recovered some of their losses after they moved down 11% on weak Q3 results in May, moved up to $18.93 in early trading on the Nasdaq on Thursday.
Cisco reported on Wednesday it would boost its quarterly dividend by 75% to 14 cents a share after announcing fourth-quarter revenue largely in line with analysts’ forecasts.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Ericsson (ADR) (NASDAQ:ERIC) rose +1.45% to settle at $9.79, Alcatel Lucent SA (ADR) (NYSE:ALU) moved up +4.39% to end at $1.19 while Juniper Networks, Inc (NYSE:JNPR) jumped +0.81% to finish on Thursday at $18.59.
Cisco Systems, Inc (NASDAQ:CSCO) on Aug 16, 2012 increased +9.63% to the closing price of $19.02. The overall volume in the last trading session was 152.18 million shares. Its fifty two week range was $14.90-$21.30. The total market capitalization remained $101.89 billion.
CSCO is ahead its 52 week low with 29.72% and going forward from its 52 week high price with 9.94%. CSCO last month stock price volatility remained 2.42%. In its share capital CSCO has 5.36 billion outstanding shares among them 5.35 billion shares have been floated in market exchange. CSCO stock institutional ownership remained 72.35% while insider ownership included 0.11%.
The stock price of CSCO is moving forward from its 20 days moving average with +15.73% and remote positively from 50 days moving average with +14.57%. CSCO current year earnings per share experienced a downfall of -12.16% while its current quarter performance remained +15.48%. Company’s beta coefficient included 1.24. Beta factors measures the amount of market risk associated with market trade.
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