Bristlecone Advisors LLC Has $2.15 Million Stake in Cisco Systems, Inc. (CSCO)
Bristlecone Advisors LLC cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.7% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 63,535 shares of the network equipment provider’s stock after selling 3,816 shares during the period. Bristlecone Advisors LLC’s holdings in Cisco Systems were worth $2,147,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of CSCO. Achmea Investment Management B.V. acquired a new stake in shares of Cisco Systems during the first quarter valued at $31,170,000. Gilbert & Cook Inc. acquired a new stake in shares of Cisco Systems during the first quarter valued at $298,000. Cambridge Trust Co. boosted its stake in shares of Cisco Systems by 49.8% in the first quarter. Cambridge Trust Co. now owns 563,269 shares of the network equipment provider’s stock valued at $19,038,000 after buying an additional 187,317 shares during the period. Garde Capital Inc. boosted its stake in shares of Cisco Systems by 1.9% in the first quarter. Garde Capital Inc. now owns 10,942 shares of the network equipment provider’s stock valued at $370,000 after buying an additional 204 shares during the period. Finally, American Beacon Advisors Inc. acquired a new stake in shares of Cisco Systems during the first quarter valued at $174,000. Institutional investors and hedge funds own 75.28% of the company’s stock.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) traded up 0.888% on Wednesday, reaching $32.375. 7,684,693 shares of the company traded hands. The stock’s 50 day moving average price is $31.53 and its 200-day moving average price is $32.57. Cisco Systems, Inc. has a one year low of $29.12 and a one year high of $34.60. The stock has a market capitalization of $161.88 billion, a P/E ratio of 16.434 and a beta of 1.24. Cisco Systems also was the target of some unusual options trading activity on Tuesday. Stock traders acquired 24,568 put options on the stock. This represents an increase of approximately 223% compared to the average volume of 7,606 put options.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.02. The business had revenue of $11.94 billion for the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 earnings per share. Equities analysts forecast that Cisco Systems, Inc. will post $2.38 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.61%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 58.29%.
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Several brokerages have weighed in on CSCO. BidaskClub upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating in a research note on Wednesday. Vetr cut shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price objective for the company. in a research note on Wednesday. Drexel Hamilton restated a “buy” rating and issued a $39.00 target price on shares of Cisco Systems in a research report on Tuesday. Credit Suisse Group restated a “buy” rating on shares of Cisco Systems in a research report on Thursday, August 10th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a research report on Tuesday, August 8th. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $35.31.
In related news, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the sale, the senior vice president now owns 271,725 shares in the company, valued at $8,616,399.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 396,179 shares of company stock worth $12,503,407. 0.11% of the stock is currently owned by company insiders.
Cisco Systems Company 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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