Mitchell Capital Management Co. Increases Position in Cisco Systems, Inc. (NASDAQ:CSCO)
Mitchell Capital Management Co. lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 48,340 shares of the network equipment provider’s stock after purchasing an additional 507 shares during the period. Mitchell Capital Management Co.’s holdings in Cisco Systems were worth $2,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hoey Investments Inc. purchased a new position in Cisco Systems during the second quarter valued at $26,000. Lion Street Advisors LLC purchased a new position in Cisco Systems during the first quarter valued at $31,000. Bourgeon Capital Management LLC purchased a new position in Cisco Systems during the first quarter valued at $32,000. Emerald Advisers LLC purchased a new position in Cisco Systems during the second quarter valued at $38,000. Finally, Avondale Wealth Management grew its stake in Cisco Systems by 238.0% during the first quarter. Avondale Wealth Management now owns 1,004 shares of the network equipment provider’s stock valued at $39,000 after acquiring an additional 707 shares in the last quarter. 71.36% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have commented on CSCO shares. Credit Suisse Group reiterated a “hold” rating and set a $41.00 price objective on shares of Cisco Systems in a research report on Monday, July 20th. MKM Partners increased their price objective on shares of Cisco Systems from $40.00 to $48.00 and gave the company a “neutral” rating in a research report on Thursday, May 14th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $48.00 to $55.00 in a research report on Tuesday, June 16th. UBS Group lowered their price objective on shares of Cisco Systems from $54.00 to $51.00 and set a “buy” rating for the company in a research report on Thursday, May 14th. Finally, Raymond James increased their price objective on shares of Cisco Systems from $48.00 to $49.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $50.33.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 13th. The network equipment provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.69 by $0.10. Cisco Systems had a net margin of 21.32% and a return on equity of 36.47%. The business had revenue of $11.98 billion during the quarter, compared to analysts’ expectations of $11.87 billion. During the same period in the previous year, the business posted $0.78 EPS. On average, research analysts anticipate that Cisco Systems, Inc. will post 2.86 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 22nd. Investors of record on Monday, July 6th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Thursday, July 2nd. Cisco Systems’s dividend payout ratio is currently 50.53%.
In related news, CAO Prat Bhatt sold 5,703 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $44.87, for a total value of $255,893.61. Following the completion of the transaction, the chief accounting officer now directly owns 85,613 shares in the company, valued at approximately $3,841,455.31. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.03% of the company’s stock.
Cisco Systems Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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