Cisco Systems, Inc. (CSCO) Shares Bought by Shelton Capital Management
Shelton Capital Management boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.5% during the 3rd quarter, Holdings Channel reports. The firm owned 459,213 shares of the network equipment provider’s stock after acquiring an additional 11,097 shares during the quarter. Cisco Systems comprises approximately 1.0% of Shelton Capital Management’s investment portfolio, making the stock its 14th largest position. Shelton Capital Management’s holdings in Cisco Systems were worth $15,443,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in CSCO. Tortoise Investment Management LLC boosted its holdings in shares of Cisco Systems by 36.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after acquiring an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in shares of Cisco Systems in the 2nd quarter valued at $104,000. Manchester Capital Management LLC boosted its holdings in shares of Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 350 shares during the last quarter. Ffcm LLC boosted its holdings in shares of Cisco Systems by 2,025.0% in the 2nd quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock valued at $117,000 after acquiring an additional 3,564 shares during the last quarter. Finally, Archford Capital Strategies LLC boosted its holdings in shares of Cisco Systems by 35.7% in the 2nd quarter. Archford Capital Strategies LLC now owns 9,513 shares of the network equipment provider’s stock valued at $126,000 after acquiring an additional 2,503 shares during the last quarter. 75.06% of the stock is currently owned by institutional investors.
Several research firms have recently commented on CSCO. Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $44.00 price objective on shares of Cisco Systems in a report on Wednesday, January 10th. William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a report on Thursday, February 15th. Citigroup reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a report on Thursday, November 16th. They noted that the move was a valuation call. Nomura upped their price objective on shares of Cisco Systems from $29.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, November 16th. Finally, Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, February 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $44.02.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The company had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same period in the prior year, the business posted $0.57 earnings per share. equities analysts predict that Cisco Systems, Inc. will post 2.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a yield of 3.00%. Cisco Systems’s dividend payout ratio is currently -362.50%.
Cisco Systems announced that its Board of Directors has approved a share buyback plan on Wednesday, February 14th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the network equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
In other news, Director Arun Sarin sold 14,189 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $44.10, for a total value of $625,734.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the sale, the senior vice president now owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The disclosure for this sale can be found here. Insiders have sold 116,566 shares of company stock valued at $4,636,938 over the last 90 days. 0.05% of the stock is currently owned by company insiders.
Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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