Cisco records flat Friday on the back of 3rd straight day of declines

Published: March 19 2023, 07:46 GMT+0

Cisco records flat Friday on the back of 3rd straight day of declines

A quick look at Friday: Cisco Systems moves 0.14% to close at $50.19 Friday.

  • Daily trading volume (43.00 million shares) increased, making up 227% of the 21-day average (18.95 million).
  • Cisco discloses 38 cents per share dividend to be paid on Wednesday, January 25th

Friday's closing bell ended a trading session in which Dow Jones shed 1.19% and closed at 31,862. S&P 500 slid by 1.1% to 3,916.64. Nasdaq slid by 0.74% to 11,631. While Cisco was flat, the Technology sector as a whole fell 0.307%.

Cisco hit a significant low of $39.27 around 5 months ago, but has since recovered 27.63%. So far this year, it has been under-performing the Nasdaq by 5.89%. The networking and data center provider's market cap currently stands at $205.57 billion with an average daily volume of 18.95 million shares. Cisco last reported revenue of $13.59 billion with an EPS of 76 cents.

Cisco disclosed a quarterly dividend of 38 cents per share on Wednesday, December 7th that was paid on Wednesday, January 25th to all shareholders of record up until Thursday, January 5th. Based on current prices, the company's decision thereby provides Cisco investors with an annual dividend yield of 3.03%.

Meanwhile, mixed performances were seen by other technology stocks as Microsoft was up 1.17%. Accenture plc Class A (Ireland) went down to $250, losing 1.15% after it closed at $252.92 Friday. Adobe was up 1.37%.